Plasticraft Displays (Huddersfield) Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 00447962 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2014

for

Plasticraft Displays (Huddersfield) Ltd

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

16,271

15,159

CURRENT ASSETS

Stocks

37,362

15,668

Debtors

41,262

57,873

Cash at bank and in hand

13,210

14,028

91,834

87,569

CREDITORS

Amounts falling due within one year

3

90,267

90,740

NET CURRENT ASSETS/(LIABILITIES)

1,567

(3,171

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,838

11,988

PROVISIONS FOR LIABILITIES

1,125

1,425

NET ASSETS

16,713

10,563

CAPITAL AND RESERVES

Called up share capital

4

2,530

2,530

Profit and loss account

14,183

8,033

SHAREHOLDERS' FUNDS

16,713

10,563

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 March 2015 and were signed on its behalf by:

M G Holland - Director

Miss T A Holland - Director

S G Holland - 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.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Website development

-

Straight line over 10 years

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

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.

Website development

Website developments costs have been included in tangible fixed assets where the following conditions apply:

- the expenditure is separately identifiable;

- the technical feasibility and commercial viability of the website has been assessed with reasonable certainty;

- the website will generate sales or other revenues directly and the expenditure makes an enduring contribution to the

development of the revenue-generating capabilities of the website;

-there is a reasonable expectation that the present value of the future cash flows to be generated by the website will

be no less than the amounts capitalised;

- adequate resources exist to enable the website project to be completed and to meet any consequential need for

increased working capital.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

68,917

Additions

5,289

Disposals

(600

)

At 31 December 2014

73,606

DEPRECIATION

At 1 January 2014

53,758

Charge for year

3,924

Eliminated on disposal

(347

)

At 31 December 2014

57,335

NET BOOK VALUE

At 31 December 2014

16,271

At 31 December 2013

15,159

3.

CREDITORS

Creditors include an amount of £ 19,842 (31.12.13 - £ 37,819 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

2,530

Ordinary

£1

2,530

2,530