The Shoe Place (Bury) Ltd - Filleted accounts

The Shoe Place (Bury) Ltd - Filleted accounts


Registered number
04694012
The Shoe Place (Bury) Ltd
Filleted Accounts
31 March 2017
The Shoe Place (Bury) Ltd
Registered number: 04694012
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 35 47
Current assets
Stocks 6,877 8,250
Creditors: amounts falling due within one year 3 (14,167) (13,511)
Net current liabilities (7,290) (5,261)
Net liabilities (7,255) (5,214)
Capital and reserves
Called up share capital 1 1
Profit and loss account (7,256) (5,215)
Shareholders' funds (7,255) (5,214)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Alan Ross Garman
Director
Approved by the board on 7 September 2017
The Shoe Place (Bury) Ltd
Notes to the Accounts
for the year ended 31 March 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
2 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2016 1,458 197 1,655
At 31 March 2017 1,458 197 1,655
Depreciation
At 1 April 2016 1,415 193 1,608
Charge for the year 11 1 12
At 31 March 2017 1,426 194 1,620
Net book value
At 31 March 2017 32 3 35
At 31 March 2016 43 4 47
3 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 600 597
Trade creditors (65) -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 3,500 2,785
Corporation tax 40 40
Directors Loan Account 10,092 10,089
14,167 13,511
4 Other information
The Shoe Place (Bury) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
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