Ravenswood Contract Interiors Limited - Accounts to registrar - small 17.2

Ravenswood Contract Interiors Limited - Accounts to registrar - small 17.2


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RAVENSWOOD CONTRACT INTERIORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2016






RAVENSWOOD CONTRACT INTERIORS LIMITED (REGISTERED NUMBER: 02542430)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RAVENSWOOD CONTRACT INTERIORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







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

RAVENSWOOD CONTRACT INTERIORS LIMITED (REGISTERED NUMBER: 02542430)

BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
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 2017and were signed by:





Sarita Kent- Director


RAVENSWOOD CONTRACT INTERIORS LIMITED (REGISTERED NUMBER: 02542430)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

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.

RAVENSWOOD CONTRACT INTERIORS LIMITED (REGISTERED NUMBER: 02542430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

2. ACCOUNTING POLICIES - continued

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.

RAVENSWOOD CONTRACT INTERIORS LIMITED (REGISTERED NUMBER: 02542430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

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.