Nelaro Fabrics Limited ABBREVIATED ACCOUNTS COVER
Nelaro Fabrics Limited
Company No. 07546580
Abbreviated Accounts
29 February 2016
Nelaro Fabrics Limited ABBREVIATED BALANCE SHEET
at
29 February 2016
Company No.
07546580
Notes
2016
2015
£
£
Fixed assets
Tangible assets
2
649438
649438
Current assets
Stocks
4,5008,000
Debtors
238402
Cash at bank and in hand
15348
4,8918,450
Creditors: Amounts falling due within one year
(4,358)
(3,688)
Net current assets
5334,762
Total assets less current liabilities
1,1825,200
Net assets
1,1825,200
Capital and reserves
Called up share capital
3
1,0001,000
Profit and loss account
1824,200
Shareholder's funds
1,1825,200
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
For the year ended 29 February 2016 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 29 February 2016
And signed on its behalf by:
N.M. Rodriguez
Director
29 February 2016
Nelaro Fabrics Limited NOTES TO THE ABBREVIATED ACCOUNTS
for the year ended 29 February 2016
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) ["the FRSSE"].
Turnover
Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery
20% Reducing balance
Stocks
Stocks and work-in-progress 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 expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based upon current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
2
Fixed assets
Tangible fixed assets
Total
£
£
Cost or revaluation
At 1 March 2015
793
793
Additions
373
373
Disposals
(34)
(34)
At 29 February 2016
1,132
1,132
Amortisation
At 1 March 2015
355
355
Charge for the year
162
162
Disposals
(34)
(34)
At 29 February 2016
483
483
Net book values
At 29 February 2016
649
649
At 28 February 2015
438
438
3
Share Capital
Nominal value
2016
2016
2015
£
Number
£
£
Allotted, called up and fully paid:
Ordinary10.001001,0001,000
1,000
1,000
Nelaro Fabrics Limited29 February 201629 February 20160754658001 March 2015falsetrue29 February 201629 February 2016075465802015-03-012016-02-29075465802016-02-29075465802015-02-2807546580uk-gaap:PlantMachinery2015-03-012016-02-29075465802015-03-0107546580uk-bus:OrdinaryShareClass12015-03-012016-02-2907546580uk-bus:OrdinaryShareClass12016-02-2907546580uk-bus:OrdinaryShareClass12015-02-2807546580uk-bus:Director12015-03-012016-02-29iso4217:GBPxbrli:shares