Ravenswood Contract Interiors Limited - Accounts to registrar - small 17.2

RAVENSWOOD CONTRACT INTERIORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Sarita Kent

REGISTERED OFFICE:

197B Perry Vale

Forest Hill

London

SE23 2JF

REGISTERED NUMBER:

02542430 (England and Wales)

ACCOUNTANTS:

AEL Markhams Ltd

Chartered Accountants

201 Haverstock Hill

London

NW3 4QG

FIXED ASSETS

Tangible assets

4

627

836

CURRENT ASSETS

Stocks

3,936

4,140

Debtors

5

33,023

23,111

Cash at bank

11,924

35,348

48,883

62,599

CREDITORS

Amounts falling due within one year

6

46,846

52,058

NET CURRENT ASSETS

2,037

10,541

TOTAL ASSETS LESS CURRENT LIABILITIES

2,664

11,377

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,662

11,375

SHAREHOLDERS' FUNDS

2,664

11,377

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 27 July 2017 and were signed by:

Sarita Kent - Director

1.	STATUTORY INFORMATION

Ravenswood Contract Interiors Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS

102 has affected the reported financial position and financial performance is given in note 9.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Trade debtors

Trade debtors are recognised and carried at original invoice amount less an allowance for any non-collectable

amounts. An estimate for doubtful debts is made when collection of the full amount is no longer probable. Bad

debts are written off when identified.

Trade creditors

Trade creditors are recognised and carried at original invoice amount.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a

result of a past event, it is probable that the company will be required to settle the obligation and the amount of

the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to

settle the obligation at the reporting date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2015 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

and 31 December 2016

13,452

DEPRECIATION

At 1 January 2016

12,616

Charge for year

209

At 31 December 2016

12,825

NET BOOK VALUE

At 31 December 2016

627

At 31 December 2015

836

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

27,123

17,335

Other debtors

5,900

5,776

33,023

23,111

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

23,737

17,707

Taxation and social security

7,813

6,942

Other creditors

15,296

27,409

46,846

52,058

7.	RELATED PARTY TRANSACTIONS

During the year, total dividends of £9,000 (2015 - £25,000) were paid to the director .

Other creditors include an amount which is owed to Ms Sarita Kent of £722 (2015: £10,409), who is a director

of the company.

8.	CONTROLLING PARTY

Ms Sarita Kent, a director, controls the company by virtue of a controlling interest of 100% of the issued

ordinary share capital.

9.	FIRST YEAR ADOPTION

The policies applied under the company's previous accounting framework are not materially different to FRS 102

and have not impacted on equity or profit and loss.