Tacklestore Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04464608 (England and Wales)

Abbreviated Accounts

for the Year Ended 30 June 2015

for

Tacklestore Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M T Hughes

SECRETARY:

Miss S J Wickens

REGISTERED OFFICE:

65 St Mary Street

Chippenham

Wiltshire

SN15 3JF

REGISTERED NUMBER:

04464608 (England and Wales)

ACCOUNTANTS:

Mander Duffill

Chartered Accountants

65 St Mary Street

Chippenham

Wiltshire

SN15 3JF

FIXED ASSETS

Tangible assets

2

507,207

195,406

CURRENT ASSETS

Stocks

1,608,824

1,163,292

Debtors

1,359,476

1,317,775

Cash at bank and in hand

508,726

296,463

3,477,026

2,777,530

CREDITORS

Amounts falling due within one year

2,487,957

2,064,798

NET CURRENT ASSETS

989,069

712,732

TOTAL ASSETS LESS CURRENT LIABILITIES

1,496,276

908,138

CREDITORS

Amounts falling due after more than one year

(293,665

)

(56,692

)

PROVISIONS FOR LIABILITIES

(85,062

)

(26,941

)

NET ASSETS

1,117,549

824,505

CAPITAL AND RESERVES

Called up share capital

3

1,030

1,030

Profit and loss account

1,116,519

823,475

SHAREHOLDERS' FUNDS

1,117,549

824,505

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 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 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 31 March 2016 and were signed by:

M T Hughes - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements

-

Over remaining term of the lease

Plant and machinery

-

20% on reducing balance and 15% on reducing balance

Furniture, fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

391,294

Additions

482,174

Disposals

(42,896

)

At 30 June 2015

830,572

DEPRECIATION

At 1 July 2014

195,888

Charge for year

150,598

Eliminated on disposal

(23,121

)

At 30 June 2015

323,365

NET BOOK VALUE

At 30 June 2015

507,207

At 30 June 2014

195,406

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

£

8,500

Ordinary A

10p

850

850

1,500

Ordinary B

10p

150

150

300

Ordinary C

10p

30

30

1,030

1,030

4.	ULTIMATE CONTROLLING PARTY

The controlling party is M T Hughes.