1st Call Locksmiths Limited - Period Ending 2016-03-31

Registration number: 07021894

1st Call Locksmiths Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 31 March 2016

Mansell & Co
Chartered Certified Accountants
5 Ducketts Wharf
South Street
Bishops Stortford
Hertfordshire
CM23 3AR

1st Call Locksmiths Limited

Contents

Abbreviated Balance Sheet	1
Notes to the Abbreviated Accounts	2 to 3

1st Call Locksmiths Limited

(Registration number: 07021894)
Abbreviated Balance Sheet as at 31 March 2016

	Note	2016  £	2015  £
Fixed assets
Tangible assets	2	5,534	978
Current assets
Stocks		6,575	6,225
Debtors		34,490	22,449
Cash at bank and in hand		377	578
		41,442	29,252
Creditors: Amounts falling due within one year		(44,827)	(33,152)
Net current liabilities		(3,385)	(3,900)
Total assets less current liabilities		2,149	(2,922)
Accruals and deferred income		(2,000)	(2,040)
Net assets/(liabilities)		149	(4,962)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		49	(5,062)
Shareholders funds/(deficit)		149	(4,962)

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 director on 21 December 2016

.........................................
Mr Robert Clive Jackson
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

1st Call Locksmiths Limited

Notes to the Abbreviated Accounts

1

Accounting policies

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance basis
Motor vehicles	25% reducing balance basis
Computer equipment	50% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

2

Fixed assets

	Tangible assets £	Total £
Cost
At 1 April 2015	9,584	9,584
Additions	6,400	6,400
At 31 March 2016	15,984	15,984
Depreciation
At 1 April 2015	8,606	8,606
Charge for the year	1,844	1,844
At 31 March 2016	10,450	10,450
Net book value
At 31 March 2016	5,534	5,534
At 31 March 2015	978	978

Page 2

1st Call Locksmiths Limited

Notes to the Abbreviated Accounts

3

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

Page 3