S & G Fashions Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03958233 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

S & G FASHIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

5

DIRECTORS:

S Patel

G Mulla

REGISTERED OFFICE:

Hamilton House

315 St. Saviours Road

Leicester

Leicestershire

LE5 4HG

REGISTERED NUMBER:

03958233 (England and Wales)

ACCOUNTANTS:

K G Solanki & Co.

Hamilton House

315 St Saviours Road

Leicester

Leicestershire

LE5 4HG

FIXED ASSETS

Tangible assets

2

10,426

6,728

CURRENT ASSETS

Stocks

5,865

6,789

Debtors

1,603

46,567

Cash at bank and in hand

86,045

56,468

93,513

109,824

CREDITORS

Amounts falling due within one year

79,958

91,054

NET CURRENT ASSETS

13,555

18,770

TOTAL ASSETS LESS CURRENT
LIABILITIES

23,981

25,498

PROVISIONS FOR LIABILITIES

1,996

1,237

NET ASSETS

21,985

24,261

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

21,983

24,259

SHAREHOLDERS' FUNDS

21,985

24,261

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

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

The directors acknowledge their 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 Board of Directors on 20 December 2016 and were signed on its behalf
by:

S Patel - 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).

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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

37,426

Additions

5,560

At 31 March 2016

42,986

DEPRECIATION

At 1 April 2015

30,698

Charge for year

1,862

At 31 March 2016

32,560

NET BOOK VALUE

At 31 March 2016

10,426

At 31 March 2015

6,728

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of S & G Fashions Limited for the year ended 31 March 2016 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of S & G Fashions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of S & G Fashions Limited and state those matters that we have agreed to state to the Board of Directors of S & G Fashions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S & G Fashions Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that S & G Fashions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of S & G Fashions Limited. You consider that S & G Fashions 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 financial statements of S & G Fashions 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 financial statements.

K G Solanki & Co.

Hamilton House

315 St Saviours Road

Leicester

Leicestershire

LE5 4HG

20 December 2016