Cornerstone Jewellers (Bolsover) Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 07313968 (England and Wales)

CORNERSTONE JEWELLERS (BOLSOVER) LIMITED

PREVIOUSLY KNOWN AS

CORNERSTONE JEWELLERS (GOLDTHORPE)

LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S Dungworth

Ms L Barratt

REGISTERED OFFICE:

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

REGISTERED NUMBER:

07313968 (England and Wales)

FIXED ASSETS

Tangible assets

2

323

431

CURRENT ASSETS

Stocks

13,000

9,900

Debtors

1,527

2,781

Cash in hand

-

32

14,527

12,713

CREDITORS

Amounts falling due within one year

35,114

17,738

NET CURRENT LIABILITIES

(20,587

)

(5,025

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(20,264

)

(4,594

)

CREDITORS

Amounts falling due after more than one year

4,167

3,472

NET LIABILITIES

(24,431

)

(8,066

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(24,531

)

(8,166

)

SHAREHOLDERS' FUNDS

(24,431

)

(8,066

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 16 October 2015 and were signed on its behalf by:

Ms L Barratt - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

1,522

DEPRECIATION

At 1 August 2014

1,091

Charge for year

108

At 31 July 2015

1,199

NET BOOK VALUE

At 31 July 2015

323

At 31 July 2014

431

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

4.	CONTROLLING PARTY

The company is controlled by the directors who own 100% of the issued share capital.

5.	GOING CONCERN

The financial statements have been prepared on the going concern basis, notwithstanding net liabilities of

£24,431 which the directors believe to be appropriate for the following reasons. The company is dependent for

its working capital on funds provided to it by the directors and the support of the bank. The directors will

continue to provide the company with an undertaking that for at least 12 months from the date of approval of

these financial statements and will not seek repayment of the amounts currently made available. This should

enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as

they fall due for payment.

Based on this assurance the directors believe that it remains appropriate to prepare the financial statements on a

going concern basis. The financial statements do not include any adjustments that would result from the basis of

preparation being inappropriate.