Unique Apparel Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01569064

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

UNIQUE APPAREL LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P Small

J Johnston

SECRETARY:

P Small

REGISTERED OFFICE:

Block A Ground Floor East

Industrial House

Conway Street

Hove

East Sussex

BN3 3LW

REGISTERED NUMBER:

01569064

ACCOUNTANTS:

Cardens Accountants LLP

The Old Casino

28 Fourth Avenue

Hove

East Sussex

BN3 2PJ

FIXED ASSETS

Tangible assets

2

12,188

10,772

CURRENT ASSETS

Stocks

74,699

66,854

Debts

Debts factored without recourse

30,002

30,057

Amounts due to factoring agent

(8,068

)

(18,602

)

21,934

11,455

Debtors

109,570

81,666

Cash in hand

218

154

206,421

160,129

CREDITORS

Amounts falling due within one year

167,787

157,369

NET CURRENT ASSETS

38,634

2,760

TOTAL ASSETS LESS CURRENT LIABILITIES

50,822

13,532

CAPITAL AND RESERVES

Called up share capital

3

200

200

Share premium

49,900

49,900

Retained earnings

722

(36,568

)

SHAREHOLDERS' FUNDS

50,822

13,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 2 August 2016 and were signed on its behalf by:

P Small - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are

physically delivered to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

over term of lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

165,053

Additions

5,478

At 31 December 2015

170,531

DEPRECIATION

At 1 January 2015

154,281

Charge for year

4,062

At 31 December 2015

158,343

NET BOOK VALUE

At 31 December 2015

12,188

At 31 December 2014

10,772

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

200

ordinary

1

200

200

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES