Craven Woodcraft Co. Limited - Limited company - abbreviated - 11.6

Craven Woodcraft Co. Limited - Limited company - abbreviated - 11.6

CRAVEN WOODCRAFT CO. LIMITED - Company Information

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REGISTERED NUMBER: 01049801 (England and Wales)















CRAVEN WOODCRAFT CO. LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014






CRAVEN WOODCRAFT CO. LIMITED (REGISTERED NUMBER: 01049801)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2014










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

CRAVEN WOODCRAFT CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2014







DIRECTORS: T E Pedley
S H Pedley
D T Pedley





SECRETARY: Mrs J M Pedley





REGISTERED OFFICE: Warwick House
Forge Lane
Minworth
Sutton Coldfield
West Midlands
B76 1AH





REGISTERED NUMBER: 01049801 (England and Wales)





ACCOUNTANTS: Charts
(Charts Audit Limited)
17-19 Church Road
Northfield
Birmingham
West Midlands
B31 2JZ
Page 1
CRAVEN WOODCRAFT CO. LIMITED (REGISTERED NUMBER: 01049801)

ABBREVIATED BALANCE SHEET
30 SEPTEMBER 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 84,370 34,012
Investment property 3 3,054,476 3,054,476
3,138,846 3,088,488

CURRENT ASSETS
Stocks - 3,808
Debtors 82,913 67,665
Cash at bank and in hand 561,395 550,339
644,308 621,812
CREDITORS
Amounts falling due within one year 4 124,747 194,272
NET CURRENT ASSETS 519,561 427,540
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,658,407
3,516,028

CREDITORS
Amounts falling due after more than one
year
4
-
(53,111		 )

PROVISIONS FOR LIABILITIES (14,703 ) (4,155 )
NET ASSETS 3,643,704 3,458,762

CAPITAL AND RESERVES
Called up share capital 5 100 100
Capital redemption reserve 238 238
Profit and loss account 3,643,366 3,458,424
SHAREHOLDERS' FUNDS 3,643,704 3,458,762

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 notes form part of these abbreviated accounts

Page 2 continued...
CRAVEN WOODCRAFT CO. LIMITED (REGISTERED NUMBER: 01049801)

ABBREVIATED BALANCE SHEET - continued
30 SEPTEMBER 2014


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 28 July 2015 and were signed on its behalf by:





T E Pedley - Director


The notes form part of these abbreviated accounts

Page 3
CRAVEN WOODCRAFT CO. LIMITED (REGISTERED NUMBER: 01049801)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2014


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).

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a
small company.

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.

Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
market value is transferred to a revaluation reserve.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

Investment properties
In accordance with Statement of Standard Accounting Practice No. 19, certain of the company's properties are
held for long term investment and are included in the Balance Sheet at their open market values. The surplus(es)
or deficit(s) on revaluation of these properties are transferred to the investment property revaluation reserve.
Depreciation is not provided in respect of freehold investment properties. This policy represents a departure
from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors
consider that this policy is necessary in order that the financial statements may give a true and fair view because
current values are of prime importance rather than the calculation of systematic depreciation.

Page 4 continued...
CRAVEN WOODCRAFT CO. LIMITED (REGISTERED NUMBER: 01049801)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2014


2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2013 230,413
Additions 66,470
At 30 September 2014 296,883
DEPRECIATION
At 1 October 2013 196,401
Charge for year 16,112
At 30 September 2014 212,513
NET BOOK VALUE
At 30 September 2014 84,370
At 30 September 2013 34,012

3. INVESTMENT PROPERTY
Total
£   
COST
At 1 October 2013
and 30 September 2014 3,054,476
NET BOOK VALUE
At 30 September 2014 3,054,476
At 30 September 2013 3,054,476

Investment properties are shown at their original cost of £3,054,476 (2013 - £3,054,476) and have not been
depreciated. The directors have considered the market value of these properties and they consider that a
reasonable estimate of the open market value is the original cost. Whilst the yields on the properties might
indicate a higher value, the directors consider that in a period of economic uncertainty it would be imprudent to
show enhanced values. The directors review the position on a regular basis. The company now operates its
business from units and offices in the investment properties. No depreciation has been provided on the element
of these premises used in the company's business on the grounds that such a provision would be immaterial and
of no value to an understanding of the accounts.

4. CREDITORS

Creditors include an amount of £ 47,447 (2013 - £ 148,847 ) for which security has been given.

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
100 Ordinary shares £1 100 100

Page 5 continued...
CRAVEN WOODCRAFT CO. LIMITED (REGISTERED NUMBER: 01049801)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2014


6. FIRE DAMAGE TO INVESTMENT PROPERTIES

On 16th May 2014, a fire destroyed a number of units on the company's Birmingham Minworth Trading Estate.
The units have now been demolished and essential work carried out to make the site safe. The loss was insured
and the directors are liaising with the insurance company to determine the best terms of settlement. The
remainder of the site was not affected and rental operations continue. No adjustment has been made to the
property investment value as either the buildings will be reinstated by the insurance company or a cash settlement
will be received. A financial loss is not anticipated.

Page 6