Candle-It Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: SC256834 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 January 2014

for

Candle-It Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs G Wallace

Mrs L Bell

SECRETARY:

Mrs L Bell

REGISTERED OFFICE:

318 Morningside Road

Edinburgh

EH10 4QH

REGISTERED NUMBER:

SC256834 (Scotland)

ACCOUNTANTS:

Campbell Dallas LLP

Chartered Accountants

15 Gladstone Place

Stirling

FK8 2NX

BANKERS:

Royal Bank of Scotland plc

Edinburgh Comiston Branch

17 Comiston Road

Edinburgh

EH10 6AA

CURRENT ASSETS

Stocks

38,762

34,783

Cash in hand

100

100

38,862

34,883

CREDITORS

Amounts falling due within one year

185,221

175,504

NET CURRENT LIABILITIES

(146,359

)

(140,621

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(146,359

)

(140,621

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(146,459

)

(140,721

)

SHAREHOLDERS' FUNDS

(146,359

)

(140,621

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2014 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 20 October 2014 and were signed on its behalf by:

Mrs G Wallace - 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 is stated net of VAT and trade discounts. Turnover from the sales of goods is recognised when

the goods are physically delivered to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Going concern

At 31st January 2014 the company's liabilities exceeded its assets by £146,359 (2013: £140,621). The

company continues to trade with the support of its bankers and directors.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2013

and 31 January 2014

1,678

DEPRECIATION

At 1 February 2013

and 31 January 2014

1,678

NET BOOK VALUE

At 31 January 2014

-

At 31 January 2013

-

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES