Registered number
03005491
SURF BATHROOM SUPPLIES LTD
Abbreviated Accounts
31 December 2015
SURF BATHROOM SUPPLIES LTD
Registered number: 03005491
Abbreviated Balance Sheet
as at 31 December 2015
Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 841 1,122
Current assets
Stocks 59,682 76,535
Debtors 114,647 41,861
Cash at bank and in hand 50,048 64,334
224,377 182,730
Creditors: amounts falling due within one year (123,762) (77,692)
Net current assets 100,615 105,038
Total assets less current liabilities 101,456 106,160
Provisions for liabilities (2) (2)
Net assets 101,454 106,158
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 101,354 106,058
Shareholder's funds 101,454 106,158
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Mr S S Aujla
Director
Approved by the board on 20 September 2016
SURF BATHROOM SUPPLIES LTD
Notes to the Abbreviated Accounts
for the year ended 31 December 2015
1 Accounting policies
Basis of preparation
The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
2 Tangible fixed assets £
Cost
At 1 January 2015 9,399
At 31 December 2015 9,399
Depreciation
At 1 January 2015 8,277
Charge for the year 281
At 31 December 2015 8,558
Net book value
At 31 December 2015 841
At 31 December 2014 1,122
3 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
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