The Maker's Atelier Limited - Accounts to registrar - small 17.2

The Maker's Atelier Limited - Accounts to registrar - small 17.2


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REGISTERED NUMBER: 08822142(England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

THE MAKER'S ATELIER LIMITED

THE MAKER'S ATELIER LIMITED (REGISTERED NUMBER: 08822142)

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


THE MAKER'S ATELIER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTOR: F Tobin





REGISTERED OFFICE: Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY





REGISTERED NUMBER: 08822142(England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

THE MAKER'S ATELIER LIMITED (REGISTERED NUMBER: 08822142)

BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,066 9,823
Tangible assets 5 893 1,866
8,959 11,689

CURRENT ASSETS
Stocks 18,562 11,433
Debtors 6 2,508 1,527
Cash at bank 1,181 2,416
22,251 15,376
CREDITORS
Amounts falling due within one year 7 52,528 52,473
NET CURRENT LIABILITIES (30,277 ) (37,097 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,318

)

(25,408

)

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (21,319 ) (25,409 )
SHAREHOLDERS' FUNDS (21,318 ) (25,408 )

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 8 September 2017and were signed by:





F Tobin- Director


THE MAKER'S ATELIER LIMITED (REGISTERED NUMBER: 08822142)

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


1. STATUTORY INFORMATION

The Maker's Atelier 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis as the director has indicated her
willingness to support the activities of the company for the foreseeable future.

Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of Value Added Tax
and trade discounts.

Pattern design costs
Pattern design expenditure is capitalised when the director is satisfied as to the technical, commercial and
financial viability of each design. These assets are amortised to the profit and loss account over their estimated
useful economic life of 3 years.

Website development costs
Intangible assets include website development. This is amortised to the profit and loss account over its estimated
useful economic life of 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on cost
Plant and machinery - 33% on cost
Computer equipment - 33% on cost

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.


THE MAKER'S ATELIER LIMITED (REGISTERED NUMBER: 08822142)

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


2. ACCOUNTING POLICIES - continued
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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance
sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is
estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an
impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the
impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1(2015 - 1) .

4. INTANGIBLE FIXED ASSETS
Pattern
design Website Totals
£    £    £   
COST
At 1 January 2016 12,521 2,093 14,614
Additions 4,669 - 4,669
At 31 December 2016 17,190 2,093 19,283
AMORTISATION
At 1 January 2016 3,756 1,035 4,791
Amortisation for year 5,728 698 6,426
At 31 December 2016 9,484 1,733 11,217
NET BOOK VALUE
At 31 December 2016 7,706 360 8,066
At 31 December 2015 8,765 1,058 9,823

THE MAKER'S ATELIER LIMITED (REGISTERED NUMBER: 08822142)

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


5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 January 2016
and 31 December 2016 2,070 333 516 2,919
DEPRECIATION
At 1 January 2016 987 9 57 1,053
Charge for year 690 111 172 973
At 31 December 2016 1,677 120 229 2,026
NET BOOK VALUE
At 31 December 2016 393 213 287 893
At 31 December 2015 1,083 324 459 1,866

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 261 87
Other debtors 2,247 1,440
2,508 1,527

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade creditors 238 1,812
Taxation and social security 1,105 266
Other creditors 51,185 50,395
52,528 52,473

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary £0.01 1 1

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £50,236 (2015: £49,380) to the director.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is F Tobin.

THE MAKER'S ATELIER LIMITED (REGISTERED NUMBER: 08822142)

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


11. FIRST YEAR TRANSITION

The company's date of transition to FRS 102 was 1 January 2015.

No transitional adjustments have been made to the comparative figures and the company's financial position and
performance have not been affected by the transition to FRS 102. There have been no significant changes to the
accounting policies as a result of the new financial reporting framework.