Nalestar Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01255101 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 April 2016

for

NALESTAR LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr I Gupta

Mrs H Gupta

Mr A Gupta

SECRETARY:

Mrs S Gupta

REGISTERED OFFICE:

Melton House

Melton Place

Leyland

Lancashire

PR25 4XU

REGISTERED NUMBER:

01255101 (England and Wales)

ACCOUNTANTS:

Abrams Ashton

Chartered Accountants

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

FIXED ASSETS

Tangible assets

2

348,582

325,719

CURRENT ASSETS

Stocks

196,189

261,287

Debtors

245,529

501,089

Cash at bank

932,378

408,563

1,374,096

1,170,939

CREDITORS

Amounts falling due within one year

521,287

336,286

NET CURRENT ASSETS

852,809

834,653

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,201,391

1,160,372

PROVISIONS FOR LIABILITIES

1,610

2,536

NET ASSETS

1,199,781

1,157,836

CAPITAL AND RESERVES

Called up share capital

3

50,000

Revaluation reserve

140,665

Profit and loss account

1,009,116

967,171

SHAREHOLDERS' FUNDS

1,199,781

1,157,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 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 14 October 2016 and were signed on its behalf by:

Mr I Gupta - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

Turnover represents the value of goods, excluding value added tax, provided to customers during the year.

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

In accordance with the Financial Reporting Standard or Smaller Entities (effective January 2015) no depreciation

is provided in respect of freehold properties. This is a departure from the requirements of the Companies Act

2006 which requires all properties to be depreciated. The directors consider that to depreciate them would not

give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of

properties and accordingly the amount of depreciation which might otherwise have been charged cannot be

separately identified or quantified. The directors consider that this policy results in the financial statements

giving a true and fair view.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company makes payments to the director's own private pension plans. Contributions to the director's pension

plans are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 May 2015

603,984

Additions

39,699

At 30 April 2016

643,683

DEPRECIATION

At 1 May 2015

278,265

Charge for year

16,836

At 30 April 2016

295,101

NET BOOK VALUE

At 30 April 2016

348,582

At 30 April 2015

325,719

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

50,000

Ordinary

£1

50,000