Gardwell Coatings Ltd - Limited company - abbreviated

REGISTERED NUMBER: 00896408 (England and Wales)

Abbreviated Unaudited Accounts For The Year Ended 30th April 2014

for

Gardwell Coatings Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr A P Robertson-Young

Miss S Coles

Mr A Robertson-Young

SECRETARY:

REGISTERED OFFICE:

Unit 7

Ellough Airfield

Beccles

Suffolk

NR34 7TE

REGISTERED NUMBER:

00896408 (England and Wales)

ACCOUNTANTS:

Aston Shaw

7 Church Plain

Great Yarmouth

Norfolk

NR30 1PL

FIXED ASSETS

Tangible assets

2

248,895

285,728

CURRENT ASSETS

Stocks

241,766

328,175

Debtors

893,589

473,486

Cash at bank and in hand

107,058

4

1,242,413

801,665

CREDITORS

Amounts falling due within one year

965,934

614,604

NET CURRENT ASSETS

276,479

187,061

TOTAL ASSETS LESS CURRENT
LIABILITIES

525,374

472,789

CREDITORS

Amounts falling due after more than one
year

3

80,000

NET ASSETS

445,374

392,789

CAPITAL AND RESERVES

Called up share capital

4

20,000

Share premium

6,370

Profit and loss account

419,004

366,419

SHAREHOLDERS' FUNDS

445,374

392,789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 31st January 2015 and were signed on its behalf
by:

Mr A P Robertson-Young - 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 etc

-

25% on reducing balance and at varying rates on cost

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 tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Going concern

These financial statements have been prepared using the going concern basis. The directors consider this basis to

be appropriate but have not assessed a period in excess of twelve months from the date of approving the

accounts.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2013

1,064,266

Additions

73,841

At 30th April 2014

1,138,107

DEPRECIATION

At 1st May 2013

778,538

Charge for year

110,674

At 30th April 2014

889,212

NET BOOK VALUE

At 30th April 2014

248,895

At 30th April 2013

285,728

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

30/4/14

30/4/13

£

Repayable otherwise than by instalments

80,000

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/14

30/4/13

value:

£

80,000

Preference

£1

80,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/14

30/4/13

value:

£

20,000

Ordinary

£1

20,000

5.	ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr A Robertson-Young, by virtue of his shareholdings for this and

the proceeding period.

Gardwell Coatings Ltd - Limited company - abbreviated - 11.6

Gardwell Coatings Ltd - Limited company - abbreviated - 11.6