Cayen Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05619108

Abbreviated Accounts

for the Year Ended 31 March 2015

for

Cayen Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr N D J Sayles

SECRETARY:

Ms F E Sayles

REGISTERED OFFICE:

7 Hebden Road

SCUNTHORPE

North Lincolnshire

DN15 8DT

REGISTERED NUMBER:

05619108

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

BANKERS:

Yorkshire Bank

163 High Street

SCUNTHORPE

DN15 6EJ

FIXED ASSETS

Tangible assets

2

356,010

261,291

CURRENT ASSETS

Debtors

12,968

29,236

Cash at bank

1,500

455

14,468

29,691

CREDITORS

Amounts falling due within one year

3

146,863

105,964

NET CURRENT LIABILITIES

(132,395

)

(76,273

)

TOTAL ASSETS LESS CURRENT LIABILITIES

223,615

185,018

CREDITORS

Amounts falling due after more than one year

3

(175,476

)

(138,617

)

PROVISIONS FOR LIABILITIES

-

(2,082

)

NET ASSETS

48,139

44,319

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

48,137

44,317

SHAREHOLDERS' FUNDS

48,139

44,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 3 June 2015 and were signed by:

Mr N D J Sayles - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention modified

to include the revaluation of certain fixed assets and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods and services 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.

Improvements to property

-

10% on cost

Motor vehicles

-

16% on cost and 13% on cost

Computer equipment

-

15% on reducing balance

Deferred tax

Deferred tax recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date. Deferred tax is not recognised when assets are revalued

unless, by the balance sheet date, the company has entered into a binding agreement to sell

the assets and recognised the gains and losses expected to arise on sale or where the

assets have been sold and it is expected that the taxable gain will be rolled over into a

replacement asset.

Hire purchase and leasing commitments

Vehicles 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 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.

Vehicles held for use in operating leases are included in fixed assets at cost and depreciated

over their useful life. Rental income from operating leases is recognised on a straight line

basis over the term of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

328,971

Additions

180,481

Disposals

(54,313

)

At 31 March 2015

455,139

DEPRECIATION

At 1 April 2014

67,680

Charge for year

54,925

Eliminated on disposal

(23,476

)

At 31 March 2015

99,129

NET BOOK VALUE

At 31 March 2015

356,010

At 31 March 2014

261,291

3.

CREDITORS

The following secured debts are included within creditors:

2015

2014

£

£

Amounts due within 1 year

135,843

104,264

Amounts due after 1 year

175,476

138,617

311,319

242,881

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

2

2

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 March 2015 and 31 March 2014:

2015

2014

£

£

Mr N D J Sayles

Balance outstanding at start of year

14,494

-

Amounts advanced

37,387

96,320

Amounts repaid

(51,881

)

(81,826

)

Balance outstanding at end of year

-

14,494

During the year a charge arose of £104 for the use of the director's residence as the

company office. Interest has been charged on the overdrawn directors loan account. The

maximum overdrawn balance in the year was £14,494. Interest was charged of £33 on the

overdrawn balance in accordance with the official rate of interest of 3.25%.