REGISTERED NUMBER: 05993020 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 November 2013

for

Wise Owls Club Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mrs T Galitzine-Scott

REGISTERED OFFICE:

1 Langham Grange

Langham

Bury St Edmunds

Suffolk

IP31 3EE

REGISTERED NUMBER:

05993020 (England and Wales)

ACCOUNTANTS:

KPSK Accounts and Tax Limited

1 Langham Grange

Langham

Bury St Edmunds

Suffolk

IP31 3EE

FIXED ASSETS

Tangible assets

2

27,665

7,183

CURRENT ASSETS

Debtors

5,769

50,134

Cash at bank and in hand

132,375

44,496

138,144

94,630

CREDITORS

Amounts falling due within one year

49,597

47,470

NET CURRENT ASSETS

88,547

47,160

TOTAL ASSETS LESS CURRENT LIABILITIES

116,212

54,343

CREDITORS

Amounts falling due after more than one year

(11,212

)

-

PROVISIONS FOR LIABILITIES

(4,702

)

(510

)

NET ASSETS

100,298

53,833

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

100,297

53,832

SHAREHOLDERS' FUNDS

100,298

53,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2013 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 18 June 2014 and were signed by:

Mrs T Galitzine-Scott - 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 April 2008).

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

-

20% on reducing balance

Motor vehicles

-

25% on cost

Deferred tax

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

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2012

21,131

Additions

31,396

Disposals

(14,000

)

At 30 November 2013

38,527

DEPRECIATION

At 1 December 2012

13,948

Charge for year

8,354

Eliminated on disposal

(11,440

)

At 30 November 2013

10,862

NET BOOK VALUE

At 30 November 2013

27,665

At 30 November 2012

7,183

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/11/13

30/11/12

value:

£

£

1

Ordinary

£1

1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in the accounts is £109 owed to Mrs T Galitzine-Scott (2012: £44,582 owed by Mrs T Galitzine-Scott),

director and shareholder.

During the year, the company paid net dividends of £30,000 to Mrs T Galitzine-Scott, director and shareholder.