Cornerstone Jewellers Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03830010 (England and Wales)

CORNERSTONE JEWELLERS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs L A Dungworth

Mr P R Dungworth

SECRETARY:

Mr P R Dungworth

REGISTERED OFFICE:

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

REGISTERED NUMBER:

03830010 (England and Wales)

FIXED ASSETS

Tangible assets

2

3,076

3,143

CURRENT ASSETS

Stocks

25,573

7,275

Debtors

80

9,552

Cash in hand

1,534

2,145

27,187

18,972

CREDITORS

Amounts falling due within one year

3

27,616

20,902

NET CURRENT LIABILITIES

(429

)

(1,930

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,647

1,213

PROVISIONS FOR LIABILITIES

615

629

NET ASSETS

2,032

584

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

1,932

484

SHAREHOLDERS' FUNDS

2,032

584

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 3 November 2016 and were signed on its behalf
by:

Mrs L A Dungworth - 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).

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

-

33% on cost 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

11,756

Additions

786

Disposals

(417

)

At 31 March 2016

12,125

DEPRECIATION

At 1 April 2015

8,613

Charge for year

627

Eliminated on disposal

(191

)

At 31 March 2016

9,049

NET BOOK VALUE

At 31 March 2016

3,076

At 31 March 2015

3,143

3.

CREDITORS

Creditors include an amount of £ 6,444 (2015 - £ 1,923 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

5.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, who own 100% of the issued share capital.