Townstreet Joinery Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07817239 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016

FOR

TOWNSTREET JOINERY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr N Caley

REGISTERED OFFICE:

29 High Street

Morley

Leeds

West Yorkshire

LS27 9AL

REGISTERED NUMBER:

07817239 (England and Wales)

ACCOUNTANTS:

Cromack & Co Limited

Accountants

29 High Street

Morley

Leeds

West Yorkshire

LS27 9AL

FIXED ASSETS

Tangible assets

2

1,590

2,315

CURRENT ASSETS

Stocks

8,000

-

Cash at bank

33,065

40,498

41,065

40,498

CREDITORS

Amounts falling due within one year

41,753

42,082

NET CURRENT LIABILITIES

(688

)

(1,584

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

902

731

PROVISIONS FOR LIABILITIES

300

470

NET ASSETS

602

261

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

502

161

SHAREHOLDERS' FUNDS

602

261

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 26 September 2016 and were signed by:

Mr N Caley - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

6,307

DEPRECIATION

At 1 August 2015

3,992

Charge for year

725

At 31 July 2016

4,717

NET BOOK VALUE

At 31 July 2016

1,590

At 31 July 2015

2,315

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

100

Ordinary

£1

100