Company Registration No. 07915349 (England and Wales)
PRINT 88 LIMITED
ABBREVIATED ACCOUNTSCompany accounts
FOR THE YEAR ENDED 31 JANUARY 2014
PRINT 88 LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PRINT 88 LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2014
31 January 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,052
246
Current assets
Stocks
6,910
7,560
Debtors
25,731
14,055
Cash at bank and in hand
88
16,378
32,729
37,993
Creditors: amounts falling due within one year
(37,425)
(36,789)
Net current (liabilities)/assets
(4,696)
1,204
Total assets less current liabilities
(2,644)
1,450
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(2,744)
1,350
Shareholders' funds
(2,644)
1,450
For the financial year ended 31 January 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 30 October 2014
Mr W Garner
Director
Company Registration No. 07915349
PRINT 88 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Reducing balance
Fixtures, fittings & equipment
20% Reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2013
308
Additions
9,542
Disposals
(7,136)
At 31 January 2014
2,714
Depreciation
At 1 February 2013
62
Charge for the year
600
At 31 January 2014
662
Net book value
At 31 January 2014
2,052
At 31 January 2013
246
PRINT 88 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2014
- 3 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100