Celtic Company (Mid-Wales) Ltd,Ltd - Accounts

Celtic Company (Mid-Wales) Ltd,Ltd - Accounts

CELTIC COMPANY (MID-WALES) LIMITED - Company Information

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Celtic Company (Mid-Wales) Ltd
For the year ended 31 December 2014
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03124054
2
Contents Page
Celtic Company (Mid-Wales) Ltd
For the year ended 31 December 2014
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
3
Abbreviated Balance Sheet
Celtic Company (Mid-Wales) Ltd
As at 31 December 2014
03124054
Registered Number :
£
£
2014
Notes
2013
Fixed assets
Tangible assets
2
9,816
11,548
9,816
11,548
Current assets
Stocks
75,694
70,749
Cash at bank and in hand
3,349
987
74,098
76,681
Creditors: amounts falling due within one year
3
(16,602)
(13,525)
60,079
60,573
Net current assets
Total assets less current liabilities
70,389
71,627
Creditors: amounts falling due after more than one year
4
(152,268)
(147,872)
(77,483)
Net liabilities
(80,641)
Capital and reserves
Called up share capital
902
902
Profit and loss account
(78,385)
(81,543)
(77,483)
(80,641)
Shareholders funds
For the year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Date approved by the board: 27 April 2015
Mrs R Jones Director
Signed on behalf of the board of directors
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4
Notes to the Abbreviated Financial Statements
Celtic Company (Mid-Wales) Ltd
For the year ended 31 December 2014
1 Accounting Policies
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
15% Reducing balance
Fixtures and Fittings
15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
61,776
At 01 January 2014
At 31 December 2014
61,776
Depreciation
50,228
At 01 January 2014
1,732
Charge for year
51,960
At 31 December 2014
Net book values
At 31 December 2014
9,816
11,548
At 31 December 2013
2014
3 Creditors: amounts falling due within one year
£
£
2013
3,500
3,319
Bank loans and overdrafts (secured)
2 of 3
5
Notes to the Abbreviated Financial Statements
Celtic Company (Mid-Wales) Ltd
For the year ended 31 December 2014
2013
2014
4 Creditors due after more than one year
£
£
50,038
47,556
Bank loans and overdrafts (secured)
3 of 3