Cram Electrical Limited - Limited company - abbreviated - 11.6

Cram Electrical Limited

Abbreviated Unaudited Accounts

For The Year Ended 31 May 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Richard Clark Smith

Craig Dickson Smith

Mark Richard Smith

SECRETARY:

Anne Smith

REGISTERED OFFICE:

Unit 15 Parkburn Court

Parkburn Industrial Estate

Hamilton

ML3 0QQ

REGISTERED NUMBER:

SC229912 (Scotland)

ACCOUNTANTS:

John Di Mambro & Co.

Chartered Accountants

16 Muir Street

Hamilton

ML3 6EP

FIXED ASSETS

Tangible assets

2

36,161

28,707

CURRENT ASSETS

Stocks

351

218

Debtors

47,880

74,305

Cash at bank

34,151

22,370

82,382

96,893

CREDITORS

Amounts falling due within one year

43,873

55,406

NET CURRENT ASSETS

38,509

41,487

TOTAL ASSETS LESS CURRENT LIABILITIES

74,670

70,194

PROVISIONS FOR LIABILITIES

7,232

5,741

NET ASSETS

67,438

64,453

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

67,338

64,353

SHAREHOLDERS' FUNDS

67,438

64,453

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 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 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 3 September 2015 and were signed on its behalf by:

Richard Clark Smith - 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

62,921

Additions

41,143

Disposals

(28,210

)

At 31 May 2015

75,854

DEPRECIATION

At 1 June 2014

34,214

Charge for year

12,532

Eliminated on disposal

(7,053

)

At 31 May 2015

39,693

NET BOOK VALUE

At 31 May 2015

36,161

At 31 May 2014

28,707

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.15

31.5.14

value:

£

£

100

Ordinary

£1

100

100