Abbreviated Company Accounts - FAIRPRICE (WEYMOUTH) LIMITED

FAIRPRICE (WEYMOUTH) LIMITED - Company Information

Registered Number 03897542

FAIRPRICE (WEYMOUTH) LIMITED

Abbreviated Accounts

31 March 2016

FAIRPRICE (WEYMOUTH) LIMITED Registered Number 03897542

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	450,444	450,000
		450,444	450,000
Current assets
Cash at bank and in hand		11,429	9,798
		11,429	9,798
Creditors: amounts falling due within one year		(60,128)	(56,199)
Net current assets (liabilities)		(48,699)	(46,401)
Total assets less current liabilities		401,745	403,599
Creditors: amounts falling due after more than one year		(270,000)	(270,000)
Total net assets (liabilities)		131,745	133,599
Capital and reserves
Called up share capital		300	300
Revaluation reserve		150,000	150,000
Profit and loss account		(18,555)	(16,701)
Shareholders' funds		131,745	133,599

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.

Approved by the Board on 15 November 2016

And signed on their behalf by:
R C Paull, Director
C N Crane, Director

FAIRPRICE (WEYMOUTH) LIMITED Registered Number 03897542

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:

Fixtures, fittings and equipment - 15% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

2Tangible fixed assets

	£
Cost
At 1 April 2015	450,000
Additions	522
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	450,522
Depreciation
At 1 April 2015	-
Charge for the year	78
On disposals	-
At 31 March 2016	78
Net book values
At 31 March 2016	450,444
At 31 March 2015	450,000