Capability Brown Trading Company Ltd - Limited company accounts 11.7

REGISTERED NUMBER: 07962477 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 November 2014

for

Capability Brown Trading Company Ltd

Page

Company Information

1

Report of the Directors

2

Chartered Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

7

DIRECTORS:

K J Anderson

J P P Anderson

P Phillips

C L Phillips

REGISTERED OFFICE:

87 Station Road

Ashington

Northumberland

NE63 8RS

REGISTERED NUMBER:

07962477 (England and Wales)

ACCOUNTANTS:

Peter Weldon & Co. Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

The directors present their report with the financial statements of the company for the year ended 30 November 2014.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 December 2013 to the

date of this report.

K J Anderson

J P P Anderson

P Phillips

C L Phillips

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

C L Phillips - Director

26 August 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Capability Brown Trading Company Ltd for the year ended

30 November 2014 which comprise the Profit and Loss Account, the Balance Sheet and the related notes

from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Capability Brown Trading Company Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Capability Brown Trading Company Ltd and state those matters that we have agreed to state to the Board of Directors of Capability Brown Trading Company Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Capability Brown Trading Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Capability Brown Trading Company Ltd. You consider that Capability Brown Trading Company Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Capability Brown

Trading Company Ltd. For this reason, we have not verified the accuracy or completeness of the accounting

records or information and explanations you have given to us and we do not, therefore, express any opinion

on the statutory financial statements.

Peter Weldon & Co. Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

26 August 2015

TURNOVER

1,603

2,901

Cost of sales

307

2,875

GROSS PROFIT

1,296

26

Administrative expenses

1,276

1,691

OPERATING PROFIT/(LOSS)

2

20

(1,665

)

Interest receivable and similar income

1

26

PROFIT/(LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION

21

(1,639

)

Tax on profit/(loss) on ordinary activities

3

-

-

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

21

(1,639

)

CURRENT ASSETS

Stocks

4

1,125

1,300

Debtors

5

72

594

Cash at bank

786

1,180

1,983

3,074

CREDITORS

Amounts falling due within one year

6

3,501

4,613

NET CURRENT LIABILITIES

(1,518

)

(1,539

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,518

)

(1,539

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Profit and loss account

8

(1,618

)

(1,639

)

SHAREHOLDERS' FUNDS

(1,518

)

(1,539

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 26 August 2015 and were signed on its behalf by:

C L Phillips - 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.

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.

2.	OPERATING PROFIT/(LOSS)

The operating profit (2013 - operating loss) is stated after charging:

Period

23/2/12

Year Ended

to

30/11/14

30/11/13

£

£

Directors' remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 30 November 2014

nor for the period ended 30 November 2013.

4.

STOCKS

2014

2013

£

£

Finished goods

1,125

1,300

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

£

Trade debtors

72

562

VAT

-

32

72

594

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

£

Trade creditors

-

1,213

VAT

101

-

Directors' current accounts

3,400

3,400

3,501

4,613

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Profit

and loss

account

£

At 1 December 2013

(1,639

)

Profit for the year

21

At 30 November 2014

(1,618

)