Contrak Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05355171 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 November 2014

for

Contrak Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P J Cookson

SECRETARY:

Miss V C Hewitt

REGISTERED OFFICE:

The Glades

Festival Way

Stoke on Trent

Staffordshire

ST1 5SQ

REGISTERED NUMBER:

05355171 (England and Wales)

FIXED ASSETS

Intangible assets

2

7,000

14,000

Tangible assets

3

100,193

43,211

107,193

57,211

CURRENT ASSETS

Stocks

7,958

5,460

Debtors

6,052

4,704

14,010

10,164

CREDITORS

Amounts falling due within one year

4

125,151

48,080

NET CURRENT LIABILITIES

(111,141

)

(37,916

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,948

)

19,295

CREDITORS

Amounts falling due after more than one year

4

(107,147

)

-

PROVISIONS FOR LIABILITIES

-

(8,640

)

NET (LIABILITIES)/ASSETS

(111,095

)

10,655

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

(111,195

)

10,555

SHAREHOLDERS' FUNDS

(111,095

)

10,655

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 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 February 2015 and were signed by:

P J Cookson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the assumption that the company is able to carry

on business as a going concern, which the directors consider appropriate having regard to the

company's current and expected performance.

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, except in respect of

service contracts where turnover is recognised when the company obtains the right to

consideration.

Turnover from the supply of services represents the value of services provided under contracts, to

the extent that there is a right to consideration, and is recorded at the value of the consideration

due. Where a contract has only been partially completed at the balance sheet date turnover

represents the value of the service provided to date based on a proportion of the total contract

value.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks and work in progress 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 expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

at the balance sheet date.

Hire purchase and leasing commitments

Assets 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 the 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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2013

and 30 November 2014

70,000

AMORTISATION

At 1 December 2013

56,000

Amortisation for year

7,000

At 30 November 2014

63,000

NET BOOK VALUE

At 30 November 2014

7,000

At 30 November 2013

14,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2013

128,430

Additions

92,977

Disposals

(48,287

)

At 30 November 2014

173,120

DEPRECIATION

At 1 December 2013

85,219

Charge for year

19,722

Eliminated on disposal

(32,014

)

At 30 November 2014

72,927

NET BOOK VALUE

At 30 November 2014

100,193

At 30 November 2013

43,211

4.

CREDITORS

Creditors include an amount of £ 63,942 for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

100 Ordinary shares

£1

100

100