Richard Safadi Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 07723389 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 31 AUGUST 2015 TO 31 AUGUST 2016

FOR

RICHARD SAFADI LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

R J Safadi

REGISTERED OFFICE:

44 St Helens Road

Swansea

SA1 4BB

REGISTERED NUMBER:

07723389 (England and Wales)

ACCOUNTANTS:

HR Harris & Partners (2010) Limited

Chartered Accountants

44 St Helens Road

Swansea

West Glamorgan

SA1 4BB

FIXED ASSETS

Tangible assets

2

3,877

254

CURRENT ASSETS

Stocks

282,885

245,318

Debtors

-

1,759

Cash at bank and in hand

60,088

25,202

342,973

272,279

CREDITORS

Amounts falling due within one year

325,030

269,291

NET CURRENT ASSETS

17,943

2,988

TOTAL ASSETS LESS CURRENT
LIABILITIES

21,820

3,242

PROVISIONS FOR LIABILITIES

826

51

NET ASSETS

20,994

3,191

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

20,894

3,091

SHAREHOLDERS' FUNDS

20,994

3,191

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

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

The director acknowledges his 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 director on 29 August 2017 and were signed by:

R J Safadi - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Going concern

Based on the results shown in these financial statements together with post period end trading and

his knowledge of the business, the Director is confident that the going concern principle may be

applied.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 31 August 2015

341

Additions

3,882

At 31 August 2016

4,223

DEPRECIATION

At 31 August 2015

87

Charge for period

259

At 31 August 2016

346

NET BOOK VALUE

At 31 August 2016

3,877

At 30 August 2015

254

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100