ZINK-IT (Norwich) Limited - Period Ending 2015-10-31

ZINK-IT (Norwich) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015

Colin Richardson Accountants Limited
Waterloo House
17 Waterloo Road
Norwich
Norfolk
NR3 1EH

ZINK-IT (Norwich) Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
ZINK-IT (Norwich) Limited
for the Year Ended 31 October 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ZINK-IT (Norwich) Limited for the year ended 31 October 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of ZINK-IT (Norwich) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of ZINK-IT (Norwich) Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ZINK-IT (Norwich) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ZINK-IT (Norwich) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ZINK-IT (Norwich) Limited. You consider that ZINK-IT (Norwich) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of ZINK-IT (Norwich) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Colin Richardson Accountants Limited
Waterloo House
17 Waterloo Road
Norwich
Norfolk
NR3 1EH

14 June 2016

Page 1

ZINK-IT (Norwich) Limited
(Registration number: 03198717)
Abbreviated Balance Sheet at 31 October 2015

	Note	2015 £	2014 £
Fixed assets
Tangible fixed assets		10,176	13,161
Current assets
Stocks		25,500	25,500
Debtors		49,471	48,725
		74,971	74,225
Creditors: Amounts falling due within one year		(83,682)	(74,668)
Net current liabilities		(8,711)	(443)
Net assets		1,465	12,718
Capital and reserves
Called up share capital	3	90	90
Profit and loss account		1,375	12,628
Shareholders' funds		1,465	12,718

For the year ending 31 October 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 14 June 2016

.........................................
Mr Carl Morris Bream
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

ZINK-IT (Norwich) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Assets are depreciated using the reducing balance method

Asset class	Depreciation method and rate
Leasehold Improvements	20% Reducing Balance
Fixtures & Fittings	20% Reducing Balance
Plant & Machinery	20% Reducing Balance
Motor Vehicles	25% Reducing Balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

ZINK-IT (Norwich) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 November 2014	26,595	26,595
At 31 October 2015	26,595	26,595
Depreciation
At 1 November 2014	13,434	13,434
Charge for the year	2,985	2,985
At 31 October 2015	16,419	16,419
Net book value
At 31 October 2015	10,176	10,176
At 31 October 2014	13,161	13,161

3	Share capital

Allotted, called up and fully paid shares

	2015			2014
		No.	£		No.	£
Ordinary Shares of £1 each		90	90		90	90

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Carl Morris Bream
Directors loan account	24,592	-	26,294	-

Control

The company is controlled by the director who owns 100% of the called up share capital.

Page 4