Contorno Limited - Limited company - abbreviated

REGISTERED NUMBER: 07654218 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31ST JULY 2014

FOR

CONTORNO LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs K M Shaw

Miss R A Shaw

T R Down

SECRETARY:

REGISTERED OFFICE:

21G Somerset Square

Nailsea

Bristol

BS48 1RQ

REGISTERED NUMBER:

07654218 (England and Wales)

ACCOUNTANT:

Neil Houghton Accounting Limited

21G Somerset Square

Nailsea

Bristol

Somerset

BS48 1RQ

FIXED ASSETS

Intangible assets

2

141,899

341,899

Tangible assets

3

27,190

31,445

169,089

373,344

CURRENT ASSETS

Stocks

12,900

12,592

Debtors

18,799

12,319

Cash at bank and in hand

15,908

30,634

47,607

55,545

CREDITORS

Amounts falling due within one year

4

103,144

124,137

NET CURRENT LIABILITIES

(55,537

)

(68,592

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

113,552

304,752

CREDITORS

Amounts falling due after more than one
year

4

(68,000

)

(287,500

)

PROVISIONS FOR LIABILITIES

(2,173

)

(2,173

)

NET ASSETS

43,379

15,079

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

43,279

14,979

SHAREHOLDERS' FUNDS

43,379

15,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 30th September 2014 and were signed on its
behalf by:

Mrs K M Shaw - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2013

379,899

Disposals

(200,000

)

At 31st July 2014

179,899

AMORTISATION

At 1st August 2013

and 31st July 2014

38,000

NET BOOK VALUE

At 31st July 2014

141,899

At 31st July 2013

341,899

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2013

40,394

Additions

2,625

At 31st July 2014

43,019

DEPRECIATION

At 1st August 2013

8,949

Charge for year

6,880

At 31st July 2014

15,829

NET BOOK VALUE

At 31st July 2014

27,190

At 31st July 2013

31,445

4.

CREDITORS

Creditors include an amount of £ 0 (2013 - £ 312,500 ) for which security has been given.

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

2014

2013

as restated

£

Repayable otherwise than by instalments

20,000

Repayable by instalments

-

123,500

20,000

143,500

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

as restated

£

100

Ordinary

1

100

6.	POST BALANCE SHEET EVENTS

On 27th October 2014 Mrs K Shaw, a director, resigned due to personal difficulties.

Contorno Limited - Limited company - abbreviated - 11.6

Contorno Limited - Limited company - abbreviated - 11.6