Registered Number 03919441

JACOB GRAFF LIMITED

Abbreviated Accounts

31 December 2014

JACOB GRAFF LIMITED Registered Number 03919441

Abbreviated Balance Sheet as at 31 December 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 55 81
55 81
Current assets
Stocks 360 2,780
Cash at bank and in hand 3,884 2,899
4,244 5,679
Creditors: amounts falling due within one year (136,358) (138,440)
Net current assets (liabilities) (132,114) (132,761)
Total assets less current liabilities (132,059) (132,680)
Total net assets (liabilities) (132,059) (132,680)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (133,059) (133,680)
Shareholders' funds (132,059) (132,680)
  • For the year ending 31 December 2014 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 directors acknowledge their 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 Board on 30 September 2015

And signed on their behalf by:
G Hyams, Director

JACOB GRAFF LIMITED Registered Number 03919441

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment .

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets,
less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment 33% Reducing balance

Other accounting policies
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2Tangible fixed assets
£
Cost
At 1 January 2014 1,568
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2014 1,568
Depreciation
At 1 January 2014 1,487
Charge for the year 26
On disposals -
At 31 December 2014 1,513
Net book values
At 31 December 2014 55
At 31 December 2013 81