ZINK-IT (Norwich) Limited - Period Ending 2015-10-31

ZINK-IT (Norwich) Limited - Period Ending 2015-10-31


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Registration number: 03198717

ZINK-IT (Norwich) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

Colin Richardson Accountants Limited
Waterloo House
17 Waterloo Road
Norwich
Norfolk
NR3 1EH

 

ZINK-IT (Norwich) Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 4

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
ZINK-IT (Norwich) Limited
for the Year Ended 31 October 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ZINK-IT (Norwich) Limited for the year ended 31 October 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of ZINK-IT (Norwich) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of ZINK-IT (Norwich) Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ZINK-IT (Norwich) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ZINK-IT (Norwich) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ZINK-IT (Norwich) Limited. You consider that ZINK-IT (Norwich) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of ZINK-IT (Norwich) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Colin Richardson Accountants Limited
Waterloo House
17 Waterloo Road
Norwich
Norfolk
NR3 1EH

14 June 2016

 

ZINK-IT (Norwich) Limited
(Registration number: 03198717)
Abbreviated Balance Sheet at 31 October 2015

   

Note

   

2015
£

   

2014
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

10,176

   

13,161

 

Current assets

 

             

Stocks

 

   

25,500

   

25,500

 

Debtors

 

   

49,471

   

48,725

 
   

   

74,971

   

74,225

 

Creditors: Amounts falling due within one year

 

   

(83,682)

   

(74,668)

 

Net current liabilities

 

   

(8,711)

   

(443)

 

Net assets

 

   

1,465

   

12,718

 

Capital and reserves

 

             

Called up share capital

 

3

   

90

   

90

 

Profit and loss account

 

   

1,375

   

12,628

 

Shareholders' funds

 

   

1,465

   

12,718

 

For the year ending 31 October 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 director acknowledges his 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 director on 14 June 2016

.........................................
Mr Carl Morris Bream
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

ZINK-IT (Norwich) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Assets are depreciated using the reducing balance method

Asset class

Depreciation method and rate

Leasehold Improvements

20% Reducing Balance

Fixtures & Fittings

20% Reducing Balance

Plant & Machinery

20% Reducing Balance

Motor Vehicles

25% Reducing Balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

ZINK-IT (Norwich) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 November 2014

 

26,595

   

26,595

 

At 31 October 2015

 

26,595

   

26,595

 

Depreciation

           

At 1 November 2014

 

13,434

   

13,434

 

Charge for the year

 

2,985

   

2,985

 

At 31 October 2015

 

16,419

   

16,419

 

Net book value

           

At 31 October 2015

 

10,176

   

10,176

 

At 31 October 2014

 

13,161

   

13,161

 

3

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

Ordinary Shares of £1 each

 

90

   

90

   

90

   

90

 
                         

4

Related party transactions

Director's advances and credits

 

2015
Advance/ Credit
£

2015
Repaid
£

2014
Advance/ Credit
£

2014
Repaid
£

Mr Carl Morris Bream

Directors loan account

24,592

-

26,294

-

         
         

5

Control

The company is controlled by the director who owns 100% of the called up share capital.