Accounts filed on 31-07-2016

Accounts filed on 31-07-2016

SAM'S PALACE LTD - Company Information

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096735922015-08-012016-07-31falsetruehttp://www.companieshouse.gov.uk/2015-07-31http://www.companieshouse.gov.uk/cd:Director12015-08-012016-07-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-08-012016-07-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2016-07-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12016-07-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2015-08-012016-07-31http://www.companieshouse.gov.uk/2015-08-012016-07-31http://www.companieshouse.gov.uk/2016-07-31http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2015-08-012016-07-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 09673592
Sam's Palace Ltd
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/07/2016
Prepared By:
Vertice International
Accountancy and Consultancy
1 College Yard
56 Winchester Avenue
London
England
NW67UA
Sam's Palace Ltd
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/07/2016
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 09673592
Sam's Palace Ltd
Registered Number: 09673592
BALANCE SHEET AT 31/07/2016
2016
Notes£
FIXED ASSETS
Tangible assets212,671
CURRENT ASSETS
Stock18,542
Debtors (amounts falling due within one year)310,499
Cash at bank and in hand795
29,836
CREDITORS: Amounts falling due within one year3,217
NET CURRENT ASSETS26,619
TOTAL ASSETS LESS CURRENT LIABILITIES39,290
CREDITORS: Amounts falling due after more than one year4100,000
NET LIABILITIES(60,710)
CAPITAL AND RESERVES
Called up share capital52
Profit and loss account(60,712)
SHAREHOLDERS' FUNDS(60,710)
For the year ending 31/07/2016 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 06/04/2017 and signed on their behalf by
Samyra Barzin
Director
Sam's Palace Ltd
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/07/2016
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipment %
1c. Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.
1d. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
2. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
Additions15,83915,839
At 31/07/201615,83915,839
Depreciation
For the year3,1683,168
At 31/07/20163,1683,168
Net Book Amounts
At 31/07/201612,67112,671
Sam's Palace Ltd
3. DEBTORS 2016
£
Amounts falling due within one year:
Other debtors10,499
10,499
4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2016
£
Bank loans and overdrafts100,000
100,000
5. SHARE CAPITAL 2016
£
Allotted, issued and fully paid:
2 Ordinary shares of £1 each2
2