Accounts

Accounts

CROWN SCREW LIMITED - Company Information

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  CROWN SCREW LIMITED
         
         
  ABBREVIATED UNAUDITED ACCOUNTS
         
         
  FOR THE YEAR ENDED 30 JUNE 2015
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
  INDEX TO THE ACCOUNTS
         
 
         
  Pages
         
  1 Abbreviated Balance Sheet    
         
  2-3 Notes to the Abbreviated Accounts    
         
 
         
         
         
         
         
         
         
         
         
         
         
         
         
  CROWN SCREW LIMITED
  Company registered number: 05509146
  ABBREVIATED BALANCE SHEET
  AT 30 June 2015
           
    Note 2015 2014
      £ £ £
  FIXED ASSETS
  Tangible Assets 2 40,532 50,021
         
  CURRENT ASSETS
  Stock 1c 202,849 149,293
  Debtors falling due within one year   419,720 401,652
  Cash at bank and in hand   185,997 46,738
      808,566 597,683
  CREDITORS: Amounts falling due within one year   616,824 555,627
  NET CURRENT ASSETS   191,742 42,056
  TOTAL ASSETS LESS CURRENT LIABILITIES   232,274 92,077
           
  CREDITORS: Amounts falling due after more than one year (168,708) (76,912)
  NET ASSETS   £63,566 £15,165
       
  CAPITAL AND RESERVES
  Called up share capital 4 5 5
  Profit and loss account   63,561 15,160
  SHAREHOLDERS' FUNDS   £63,566 £15,165
       
         
  In approving these financial statements as directors of the company we hereby confirm the following:
  For the year in question the company was entitled to exemption 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 for 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.
         
  The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
         
  These abbreviated accounts were approved by the board of directors on 25 August 2015
 
 
         
  J M Porter , Director
   
  The notes on pages 2 to 3 form part of these accounts
  page 1
  NOTES TO THE ABBREVIATED ACCOUNTS
  FOR THE YEAR ENDED 30 JUNE 2015
       
 
1. ACCOUNTING POLICIES
     
     
1a. Basis of accounting
     
  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).
         
         
1b. Tangible fixed assets
         
  Fixed assets are shown at historical cost.
         
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
         
         
  Plant and machinery Reducing balance 20%    
  Vehicles Reducing balance 25%    
  Fixtures and fittings Reducing balance 15%    
  Equipment Reducing balance 15%    
       
       
1c. Stocks
       
  Stocks are stated at the lower of cost and net realisable value. Cost incurred in bringing each product to its present location and condition is based on purchase cost on a first-in, first-out basis, including transport.
       
       
1d. Taxation
       
  Corporation tax payable is provided on taxable profits at the current rate.
       
       
       
1e. Turnover
       
  Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business.
     
     
1f. Leasing and hire purchase contracts
     
  Assets obtained under finance leases and hire purchase contracts are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
     
  Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
  page 2
  CROWN SCREW LIMITED
  NOTES TO THE ABBREVIATED ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 JUNE 2015
       
       
2. TANGIBLE FIXED ASSETS 2015 2014
    £ £
  Cost
       
  At 1 July 2014 103,279 93,655
  Additions 1,122 9,625
  At 30 June 2015 104,401 103,280
   
  Depreciation
       
  At 1 July 2014 53,258 40,978
  For the year 10,611 12,281
  At 30 June 2015 63,869 53,259
   
  Net Book Amounts
       
  At 30 June 2015 £40,532 £50,021
   
       
       
3. CREDITORS
    2015 2014
    £ £
  Creditors include the following amounts of secured liabilities:
       
  Due after more than one year 168,708 76,912
   
       
       
4. SHARE CAPITAL 2015 2014
    £ £
  Allotted, issued and fully paid:
       
  5 Ordinary shares of £1 each £5 £5
   
       
       
5. RELATED PARTIES
       
  The ultimate controlling party of this company is the directors.
       
       
  page 3