Rushstamps (Retail) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01949347 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2016

for

RUSHSTAMPS (RETAIL) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A M Grant Esq

Mrs C L Grant

E J Friedman Esq

Mrs S J Brunsdon

SECRETARY:

Mrs C L Grant

REGISTERED OFFICE:

Prospect House

50 Leigh Road

Eastleigh

Hampshire

SO50 9DT

REGISTERED NUMBER:

01949347 (England and Wales)

ACCOUNTANTS:

Walji & Co Private Clients Limited

Prospect House

50 Leigh Road

Eastleigh

Hampshire

SO50 9DT

FIXED ASSETS

Tangible assets

2

9,352

11,058

CURRENT ASSETS

Stocks

140,975

123,217

Debtors

9,971

4,389

Cash at bank and in hand

125,300

120,263

276,246

247,869

CREDITORS

Amounts falling due within one year

148,131

169,498

NET CURRENT ASSETS

128,115

78,371

TOTAL ASSETS LESS CURRENT LIABILITIES

137,467

89,429

PROVISIONS FOR LIABILITIES

1,546

2,136

NET ASSETS

135,921

87,293

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

135,821

87,193

SHAREHOLDERS' FUNDS

135,921

87,293

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 29 March 2017 and were signed on its behalf by:

A M Grant Esq - Director

E J Friedman Esq - 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

103,716

DEPRECIATION

At 1 November 2015

92,658

Charge for year

1,706

At 31 October 2016

94,364

NET BOOK VALUE

At 31 October 2016

9,352

At 31 October 2015

11,058

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

£

100

Ordinary

£1

100

100

4.	ULTIMATE PARENT COMPANY

21st Century Stamps Limited is regarded by the directors as being the company's ultimate parent

company.