Abbreviated Company Accounts - SHREWS LIMITED

Abbreviated Company Accounts - SHREWS LIMITED


Registered Number SC167630

SHREWS LIMITED

Abbreviated Accounts

28 February 2015

SHREWS LIMITED Registered Number SC167630

Abbreviated Balance Sheet as at 28 February 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 569 487
Investments 3 14,235 14,235
14,804 14,722
Current assets
Debtors 1,636 1,619
Cash at bank and in hand 379 197
2,015 1,816
Creditors: amounts falling due within one year (164,957) (157,806)
Net current assets (liabilities) (162,942) (155,990)
Total assets less current liabilities (148,138) (141,268)
Total net assets (liabilities) (148,138) (141,268)
Capital and reserves
Called up share capital 100 100
Profit and loss account (148,238) (141,368)
Shareholders' funds (148,138) (141,268)
  • For the year ending 28 February 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 November 2015

And signed on their behalf by:
John Birchmore, Director

SHREWS LIMITED Registered Number SC167630

Notes to the Abbreviated Accounts for the period ended 28 February 2015

1Accounting Policies

Basis of measurement and preparation of accounts
Basis of accounting
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).

Going concern
At 28 February 2015, the company has net current liabilities of £162,942 (2014 - £155,990). This includes amounts owing by the company to the directors of £151,998 (2014 - £145,040). The directors have confirmed that repayment of their loans will not be required unless other creditors have been paid in full. On that basis, the directors are satisfied that it is appropriate to prepare these Financial Statements on the going concern basis.

Turnover policy
Turnover comprises the fair value of consultancy services provided.
Revenue from consulting is recognised when the service has been provided and all obligations to the customers under the consulting agreement have been fulfilled. For larger consulting projects containing several project milestones, revenue is recognised as each milestone is achieved or on a percentage of completion basis unless management has doubts as to the recoverability of fees.

Tangible assets depreciation policy
Computer equipment is stated at cost less accumulated depreciation. Depreciation is charged to write off the cost, less estimated residual value, of each asset as follows :

Computer equipment - 33% straight line
Office furniture - 25% straight line

Other accounting policies
Deferred taxation
Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date.
A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the reversal of the underlying timing differences can be deducted.

2Tangible fixed assets
£
Cost
At 1 March 2014 7,553
Additions 377
Disposals -
Revaluations -
Transfers -
At 28 February 2015 7,930
Depreciation
At 1 March 2014 7,066
Charge for the year 295
On disposals -
At 28 February 2015 7,361
Net book values
At 28 February 2015 569
At 28 February 2014 487

3Fixed assets Investments
2015 2014
£ £
Loan to unquoted trading company 14,235 14,235

The loan was advanced to First Malpils Power SIA, in which shares are held personally by the director J. Birchmore.