Chas. Swann (Walsall) Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 01489609

Abbreviated Unaudited Accounts

for the Year Ended 31st March 2014

for

CHAS. SWANN (WALSALL) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R.E. Pugh

P.A. Joynes

SECRETARY:

P.A. Joynes

REGISTERED OFFICE:

Old Landywood Lane

Essington

Nr.Wolverhampton

West Midlands

WV11 2AP

REGISTERED NUMBER:

01489609

ACCOUNTANTS:

Bakers

(The practising name of

Baker (Midlands) Limited)

Arbor House

Broadway North

Walsall

WS1 2AN

FIXED ASSETS

Intangible assets

2

8,000

12,000

Tangible assets

3

22,963

28,533

30,963

40,533

CURRENT ASSETS

Stocks

224,187

103,351

Debtors

248,113

419,190

Cash at bank and in hand

62,355

66,715

534,655

589,256

CREDITORS

Amounts falling due within one year

151,150

188,671

NET CURRENT ASSETS

383,505

400,585

TOTAL ASSETS LESS CURRENT LIABILITIES

414,468

441,118

PROVISIONS FOR LIABILITIES

4,400

5,400

NET ASSETS

410,068

435,718

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

410,066

435,716

SHAREHOLDERS' FUNDS

410,068

435,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 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 31st July 2014 and were signed on its behalf by:

R.E. Pugh - Director

P.A. Joynes - 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 & services provided excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Improvements to property

-

over term of the lease

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% 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.

Pension costs and other post-retirement benefits

The company operates defined contribution pension schemes.The assets of the schemes are held separately

from those of the company in independently administered funds. Contributions paid in the year are charged to

the profit and loss account.

Operating leases

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 1st April 2013

and 31st March 2014

20,000

AMORTISATION

At 1st April 2013

8,000

Amortisation for year

4,000

At 31st March 2014

12,000

NET BOOK VALUE

At 31st March 2014

8,000

At 31st March 2013

12,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

and 31st March 2014

337,379

DEPRECIATION

At 1st April 2013

308,846

Charge for year

5,570

At 31st March 2014

314,416

NET BOOK VALUE

At 31st March 2014

22,963

At 31st March 2013

28,533

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2

5.	ULTIMATE PARENT UNDERTAKING

The company is a wholly owned subsidiary of Chas B.Pugh (Walsall) Limited, a company incorporated in

England and Wales.