STY.COM Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04094597 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 January 2016

for

STY.COM Limited

T/A

Simply Thank You

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C W Eglington

M J Wood

K Iceton

M Eglington

G Lumby

S Martin

SECRETARY:

K Iceton

REGISTERED OFFICE:

Richmond Court

Morton Road

DARLINGTON

Co Durham

DL1 4PT

REGISTERED NUMBER:

04094597 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

Co Durham

DL3 7RT

FIXED ASSETS

Tangible assets

2

391,541

369,270

Investments

3

6,600

6,600

398,141

375,870

CURRENT ASSETS

Stocks

629,684

383,494

Debtors

945,747

793,912

Cash at bank and in hand

77,637

19,711

1,653,068

1,197,117

CREDITORS

Amounts falling due within one year

4

1,231,968

907,503

NET CURRENT ASSETS

421,100

289,614

TOTAL ASSETS LESS CURRENT LIABILITIES

819,241

665,484

CREDITORS

Amounts falling due after more than one year

4

(23,269

)

(22,160

)

PROVISIONS FOR LIABILITIES

(60,842

)

(29,031

)

NET ASSETS

735,130

614,293

CAPITAL AND RESERVES

Called up share capital

5

1,221

1,221

Share premium

391,339

391,339

Profit and loss account

342,570

221,733

SHAREHOLDERS' FUNDS

735,130

614,293

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 3 May 2016 and were signed on its behalf by:

C W Eglington - 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 January 2015).

Preparation of consolidated financial statements

The financial statements contain information about STY.COM Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

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.

Improvements to property

-

10% on cost and 5% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost and 10% 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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.

Investments

Investments held as fixed assets are stated at cost less provision for any impairment in value.

Grants

Revenue based grants are credited to the profit and loss account on receipt.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

910,364

Additions

115,385

Disposals

(13,700

)

At 31 January 2016

1,012,049

DEPRECIATION

At 1 February 2015

541,094

Charge for year

89,689

Eliminated on disposal

(10,275

)

At 31 January 2016

620,508

NET BOOK VALUE

At 31 January 2016

391,541

At 31 January 2015

369,270

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 February 2015

and 31 January 2016

6,600

NET BOOK VALUE

At 31 January 2016

6,600

At 31 January 2015

6,600

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Simply Thank You Pty Limited

Country of incorporation: Australia

Nature of business: Retail via mail order and internet

%

Class of shares:

holding

Ordinary

80.00

2016

2015

£

£

Aggregate capital and reserves

(8,224

)

(12,575

)

Profit for the year

4,351

222

Associated company

STY Europe B.V.

Country of incorporation: Holland

Nature of business: Retail sale via mail order and internet.

%

Class of shares:

holding

Ordinary

40.00

31.12.15

31.12.14

£

£

Aggregate capital and reserves

(112,210

)

(88,740

)

Loss for the year

(28,083

)

(30,267

)

4.

CREDITORS

Creditors include an amount of £ 187,634 (2015 - £ 30,672 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

122,080

Ordinary

1p

1,221

1,221