Lizzie_Bell_Interiors_Lim - Accounts

LIZZIE BELL INTERIORS LIMITED - Company Information

Print Friendly Version

Company Registration No. SC263456 (Scotland)

Lizzie Bell Interiors Limited

Abbreviated financial statements

for the year ended 28 February 2015

Lizzie Bell Interiors Limited

Contents

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated financial statements

3 - 4

LIZZIE BELL INTERIORS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

28 FEBRUARY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

2,277

4,983

Current assets

Stocks

12,517

7,476

Debtors

28,918

11,777

Cash at bank and in hand

13,982

41,940

55,417

61,193

Creditors: amounts falling due within one year

(51,344)

(36,888)

Net current assets

4,073

24,305

Total assets less current liabilities

6,350

29,288

6,350

29,288

Capital and reserves

Called up share capital

Profit and loss account

6,349

29,287

Shareholders' funds

6,350

29,288

LIZZIE BELL INTERIORS LIMITED

ABBREVIATED BALANCE SHEET (continued)

AS AT

28 FEBRUARY 2015

- 2 -

For the financial year ended 28 February 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 October 2015

Elizabeth Bell

Director

Company Registration No. SC263456

Lizzie Bell Interiors Limited

Notes to the abbreviated financial statements

for the year ended 28 February 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the forseeable future. Having considered the future prospects and trading of the company, the director considers that the going concern basis is appropriate in the preparation of these financial statements.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

20% on cost

Fixtures and fittings

20% on cost

Motor vehicles

20% on cost

1.5

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

1.6

Taxation

The tax expense represents the sum of the corporation tax and deferred tax charge for the year.

The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using the tax rates that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Lizzie Bell Interiors Limited

Notes to the abbreviated financial statements (continued)

for the year ended 28 February 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 March 2014

18,644

Additions

741

At 28 February 2015

19,385

Depreciation

At 1 March 2014

13,660

Charge for the year

3,448

At 28 February 2015

17,108

Net book value

At 28 February 2015

2,277

At 28 February 2014

4,983

Share capital

2015

2014

Allotted, called up and fully paid

1 Ordinary shares of £1 each