Evolution Paint & Graphic Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03469044 (England and Wales)

EVOLUTION PAINT & GRAPHIC LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

A Mycroft

S J Tysoe

SECRETARY:

K J Mycroft

REGISTERED OFFICE:

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

REGISTERED NUMBER:

03469044 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

2

207,398

294,202

CURRENT ASSETS

Stocks

74,442

50,984

Debtors

798,131

325,096

Cash at bank and in hand

86,297

73,423

958,870

449,503

CREDITORS

Amounts falling due within one year

621,699

326,492

NET CURRENT ASSETS

337,171

123,011

TOTAL ASSETS LESS CURRENT LIABILITIES

544,569

417,213

CREDITORS

Amounts falling due after more than one year

(52,409

)

(123,638

)

PROVISIONS FOR LIABILITIES

(18,044

)

(31,868

)

NET ASSETS

474,116

261,707

CAPITAL AND RESERVES

Called up share capital

3

200

200

Profit and loss account

473,916

261,507

SHAREHOLDERS' FUNDS

474,116

261,707

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 5 March 2015 and were signed on its behalf by:

A Mycroft - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold property improvements

-

10% on cost

Plant & machinery

-

20% on reducing balance

Fixtures, fittings & equipment

-

20% on reducing balance

Motor vehicles

-

25% 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2013

605,889

Additions

10,397

Disposals

(2,149

)

At 30 November 2014

614,137

DEPRECIATION

At 1 December 2013

311,687

Charge for year

95,909

Eliminated on disposal

(857

)

At 30 November 2014

406,739

NET BOOK VALUE

At 30 November 2014

207,398

At 30 November 2013

294,202

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

200

Ordinary

£1

200

200