Abbreviated Company Accounts - SCHNEIDER FURNITURE LIMITED

Abbreviated Company Accounts - SCHNEIDER FURNITURE LIMITED

SCHNEIDER FURNITURE LIMITED - Company Information

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Registered Number 07124677

SCHNEIDER FURNITURE LIMITED

Abbreviated Accounts

31 March 2016

SCHNEIDER FURNITURE LIMITED Registered Number 07124677

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 6,858 6,209
6,858 6,209
Current assets
Stocks 48,978 38,860
Debtors 113,879 145,077
Cash at bank and in hand 110,939 47,601
273,796 231,538
Creditors: amounts falling due within one year (228,877) (233,222)
Net current assets (liabilities) 44,919 (1,684)
Total assets less current liabilities 51,777 4,525
Total net assets (liabilities) 51,777 4,525
Capital and reserves
Called up share capital 200 200
Profit and loss account 51,577 4,325
Shareholders' funds 51,777 4,525
  • For the year ending 31 March 2016 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 15 April 2016

And signed on their behalf by:
TL Schneider, Director

SCHNEIDER FURNITURE LIMITED Registered Number 07124677

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises the value of sales excluding value added tax and trade discounts

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less estimated residual value, over their expected useful lives on the following bases:
Motor vehicles 25% per annum reducing balance basis
Furniture and equipment 20% per annum reducing balance basis
Fixtures and fittings 20% per annum reducing balance basis

Valuation information and policy
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2Tangible fixed assets
£
Cost
At 1 April 2015 16,988
Additions 2,515
Disposals -
Revaluations -
Transfers -
At 31 March 2016 19,503
Depreciation
At 1 April 2015 10,779
Charge for the year 1,866
On disposals -
At 31 March 2016 12,645
Net book values
At 31 March 2016 6,858
At 31 March 2015 6,209