Rose Velvet Limited - Period Ending 2016-02-28

ROSE VELVET LIMITED - Company Information

Registration number: 06509997

Rose Velvet Limited

Unaudited Abbreviated Accountsfor

the Period from 1 March 2015 to 28 February 2016

Walker Associates Accountancy Limited
Royal House
110 Station Parade
Harrogate
North Yorkshire
HG1 1EP

Rose Velvet Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 6

Rose Velvet Limited

Company Information

Directors

Miss Julie Anne Chilver

Company secretary

Mrs Margaret Chilver

Registered office

Beaufort House
4a Montpellier Street
Harrogate
North Yorkshire
HG1 2TQ

Accountants

Walker Associates Accountancy Limited
Royal House
110 Station Parade
Harrogate
North Yorkshire
HG1 1EP

Page 1

Rose Velvet Limited

(Registration number: 06509997)
Abbreviated Balance Sheet as at 28 February 2016

	Note	28 February 2016 £	28 February 2015 £
Fixed assets
Intangible assets	3	60,000	65,000
Tangible assets	4	2,323	3,245
		62,323	68,245
Current assets
Stocks		60,436	51,342
Debtors		4,591	23,348
Cash at bank and in hand		111,761	69,847
		176,788	144,537
Creditors: Amounts falling due within one year		(151,213)	(151,719)
Net current assets/(liabilities)		25,575	(7,182)
Net assets		87,898	61,063
Capital and reserves
Called up share capital		1	1
Profit and loss account		87,897	61,062
Total equity		87,898	61,063

For the financial period ending 28 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges hisdirector acknowledges her 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 20 October 2016

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

Miss Julie Anne Chilver

Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Rose Velvet Limited

(Registration number: 06509997)
Abbreviated Balance Sheet as at 28 February 2016

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

Miss Julie Anne Chilver

Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Rose Velvet Limited

Notes to the Abbreviated Accounts for the Period from 1 March 2015 to 28 February 2016

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Beaufort House
4a Montpellier Street
Harrogate
North Yorkshire
HG1 2TQ

The principal place of business is:
Beaufort House
4a Montpellier Street
Harrogate
North Yorkshire
HG1 2TQ

These financial statements were authorised for issue by the director on 20 October 2016.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	15% straight line method
Furniture and fittings	15% straight line method

Page 4

Rose Velvet Limited

Notes to the Abbreviated Accounts for the Period from 1 March 2015 to 28 February 2016

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

3	Intangible assets

	Goodwill £	Total £
Cost or valuation
At 1 March 2015	100,000	100,000
At 28 February 2016	100,000	100,000
Amortisation
At 1 March 2015	35,000	35,000
Amortisation charge	5,000	5,000
At 28 February 2016	40,000	40,000
Carrying amount
At 28 February 2016	60,000	60,000
At 28 February 2015	65,000	65,000

4	Tangible assets

	Furniture, fittings and equipment £	Total £
Cost or valuation
At 1 March 2015	8,518	8,518
Additions	275	275
At 28 February 2016	8,793	8,793
Depreciation
At 1 March 2015	5,273	5,273
Charge for the year	1,197	1,197
At 28 February 2016	6,470	6,470
Carrying amount
At 28 February 2016	2,323	2,323
At 28 February 2015	3,245	3,245

Page 5

Rose Velvet Limited

Notes to the Abbreviated Accounts for the Period from 1 March 2015 to 28 February 2016

	Furniture, fittings and equipment £	Total £
Cost or valuation
At 1 March 2015	8,518	8,518
Additions	275	275
At 28 February 2016	8,793	8,793
Depreciation
At 1 March 2015	5,273	5,273
Charge for the year	1,197	1,197
At 28 February 2016	6,470	6,470
Carrying amount
At 28 February 2016	2,323	2,323
At 28 February 2015	3,245	3,245

Page 6