C_&_C_MATERIALS_LIMITED - Accounts
C_&_C_MATERIALS_LIMITED - Accounts
Company Registration number 08629115
Abbreviated Accounts
For the period ended 31 July 2014
Financial statements for the period ended 31 July 2014
Contents
Pages
Balance sheet
1
Notes to the financial statements
2-3
Abbreviated balance sheet as at 31 July 2014
2014
Notes
£
£
£
Fixed assets
Intangible assets
Tangible assets
2
2
Current assets
Debtors
Cash at bank and in hand
Creditors:
amounts falling due within one year
(31,502 )
Net current assets
Total assets less current liabilities
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
Director's responsibilities:
Approved by the board of directors on 24 April 2015 and signed on its behalf.
Company Registration No: 08629115
The notes on pages 2 to 3 form part of these financial statements.
1
Notes to the abbreviated accounts for the period ended 31 July 2014
1
Accounting policies
a)
Basis of accounting
The company has taken advantage of the exemption, conferred by Financial Reporting Standard 1, from presenting a cash flow statement as it qualifies as a small company.
b)
Turnover
c)
Depreciation of tangible fixed assets
Equipment, fixtures and fittings
d)
Goodwill
e)
Deferred taxation
Deferred tax is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date.
A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on a nondiscounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on a nondiscounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
f)
Accounting period
The financial statements cover the period from 29 July 2013 to 31 July 2014.
2
Fixed assets
Intangible
Tangible
fixed
fixed
assets
assets
Total
£
£
£
£
£
£
£
£
£
Cost:
Additions
2,745
12,745
Depreciation:
Provision for the year
2,000
686
2,686
At 31 July 2014
2,000
686
2,686
Net book value:
At 31 July 2014
10,059
2
Notes to the abbreviated accounts for the period ended 31 July 2014 (continued)
3
Called-up share capital
2014
£
£
£
Allotted, called up and fully paid
Equity shares:
On incorporation the company issued 5 ordinary A shares and 5 ordinary B shares at par value. Shares rank pari passu in all respects.
4
Controlling party
The company is controlled by the directors K L Choy and I T H Chang by virtue of their shareholdings.
3