Simi & Lola Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 08273341 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2015

FOR

SIMI & LOLA LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr H B Camara

SECRETARY:

Mr H B Camara

REGISTERED OFFICE:

6 Church Arcade

Bedford

Bedfordshire

MK40 1LQ

REGISTERED NUMBER:

08273341 (England and Wales)

ACCOUNTANTS:

Stoten Gillam Limited

Chartered Accountants

Alban House

99 High Street South

Dunstable

Bedfordshire

LU6 3SF

FIXED ASSETS

Tangible assets

2

3,567

3,156

CURRENT ASSETS

Stocks

39,982

15,175

Debtors

4,462

1,991

Cash at bank and in hand

5,377

1,869

49,821

19,035

CREDITORS

Amounts falling due within one year

52,685

25,778

NET CURRENT LIABILITIES

(2,864

)

(6,743

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

703

(3,587

)

PROVISIONS FOR LIABILITIES

170

-

NET ASSETS/(LIABILITIES)

533

(3,587

)

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

532

(3,588

)

SHAREHOLDERS' FUNDS

533

(3,587

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2015 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 30 September 2016 and were signed by:

Mr H B Camara - 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 April 2008).

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 etc

-

25% on reducing balance and 15% 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.

Deferred tax

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

date.

Hire purchase and leasing commitments

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

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

4,212

Additions

1,603

At 30 November 2015

5,815

DEPRECIATION

At 1 December 2014

1,056

Charge for year

1,192

At 30 November 2015

2,248

NET BOOK VALUE

At 30 November 2015

3,567

At 30 November 2014

3,156

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

1

Ordinary

£1

1