Little Italy Menswear Limited - Limited company - abbreviated - 11.6

Little Italy Menswear Limited - Limited company - abbreviated - 11.6

LITTLE ITALY MENSWEAR LIMITED - Company Information

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REGISTERED NUMBER: 03564151 (England and Wales)



















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2014

FOR

LITTLE ITALY MENSWEAR LIMITED

LITTLE ITALY MENSWEAR LIMITED (REGISTERED NUMBER: 03564151)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 31 May 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

LITTLE ITALY MENSWEAR LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2014







DIRECTOR: Mr Sukhbinder Randhawa





SECRETARY: Mrs Neena Randhawa





REGISTERED OFFICE: 17 Monksfield Avenue
Great Barr
Birmingham
West Midlands
B43 6AP





REGISTERED NUMBER: 03564151 (England and Wales)





ACCOUNTANTS: Brindleys Limited
2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD
Page 1
LITTLE ITALY MENSWEAR LIMITED (REGISTERED NUMBER: 03564151)

ABBREVIATED BALANCE SHEET
31 May 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 9,271 10,907
9,271 10,907

CURRENT ASSETS
Stocks 127,250 110,250
Debtors 4,395 33,420
Cash at bank and in hand 18,281 22,545
149,926 166,215
CREDITORS
Amounts falling due within one year 146,493 165,404
NET CURRENT ASSETS 3,433 811
TOTAL ASSETS LESS CURRENT
LIABILITIES
12,704
11,718

CAPITAL AND RESERVES
Called up share capital 4 2 2
Profit and loss account 12,702 11,716
SHAREHOLDERS' FUNDS 12,704 11,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these abbreviated accounts

Page 2 continued...
LITTLE ITALY MENSWEAR LIMITED (REGISTERED NUMBER: 03564151)

ABBREVIATED BALANCE SHEET - continued
31 May 2014


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 director on 15 February 2015 and were signed by:





Mr Sukhbinder Randhawa - Director


The notes form part of these abbreviated accounts

Page 3
LITTLE ITALY MENSWEAR LIMITED (REGISTERED NUMBER: 03564151)

NOTES TO THE ABBREVIATED ACCOUNTS
for the Year Ended 31 May 2014

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

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 - 15% on reducing balance

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. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2013
and 31 May 2014 25,000
AMORTISATION
At 1 June 2013
and 31 May 2014 25,000
NET BOOK VALUE

At 31 May 2014 -
At 31 May 2013 -

Page 4 continued...
LITTLE ITALY MENSWEAR LIMITED (REGISTERED NUMBER: 03564151)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 May 2014

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2013
and 31 May 2014 16,288
DEPRECIATION
At 1 June 2013 5,381
Charge for year 1,636
At 31 May 2014 7,017
NET BOOK VALUE
At 31 May 2014 9,271
At 31 May 2013 10,907

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
2 Ordinary £1 2 2

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Dividends of £46,000 (2013: £46,000) were paid to the shareholders in which Mr Sukhbinder Randhawa is a
shareholder and director of the company.

Directors Remuneration of £7,726 (2013: £7,580) were paid to Mr Sukhbinder Randhawa.

6. ULTIMATE CONTROLLING PARTY

The Ultimate controlling party of the company are Mr Sukhbinder Randhawa and Mrs Neena Randhawa.

Page 5