Catfoss Modular & Portable Buildings Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06655516 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2014

for

Catfoss Modular & Portable Buildings

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

B. Foreman

A. P. Foreman

S. A. Lawrence

REGISTERED OFFICE:

Rasher House

Catfoss Lane

Brandesburton

Driffield

East Yorkshire

YO25 8EJ

REGISTERED NUMBER:

06655516 (England and Wales)

ACCOUNTANTS:

ESR Accountancy Limited

Tickton Hall

Tickton

Beverley

East Yorkshire

HU17 9RX

BANKERS:

HSBC Bank plc

Humber Commercial Centre

Merit House

Priory Park West

Hessle

East Yorkshire

HU13 9PB

FIXED ASSETS

Tangible assets

2

795,329

1,205,346

CURRENT ASSETS

Stocks

1,450,029

339,869

Debtors

1,295,040

482,043

Cash at bank and in hand

297,156

217,885

3,042,225

1,039,797

CREDITORS

Amounts falling due within one year

3

2,851,158

1,466,235

NET CURRENT ASSETS/(LIABILITIES)

191,067

(426,438

)

TOTAL ASSETS LESS CURRENT LIABILITIES

986,396

778,908

CREDITORS

Amounts falling due after more than one year

3

(451,780

)

(523,919

)

PROVISIONS FOR LIABILITIES

(70,300

)

(113,805

)

NET ASSETS

464,316

141,184

CAPITAL AND RESERVES

Called up share capital

4

200

100

Revaluation reserve

210,000

-

Profit and loss account

254,116

141,084

SHAREHOLDERS' FUNDS

464,316

141,184

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 23 September 2015 and were signed on its behalf by:

B Foreman - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

at varying rates on cost

Improvements to property

-

20% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

33% 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.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 January 2014

1,695,920

Additions

396,952

Disposals

(1,008,678

)

Revaluations

110,250

At 31 December 2014

1,194,444

DEPRECIATION

At 1 January 2014

490,574

Charge for year

127,200

Eliminated on disposal

(218,659

)

At 31 December 2014

399,115

NET BOOK VALUE

At 31 December 2014

795,329

At 31 December 2013

1,205,346

3.

CREDITORS

Creditors include an amount of £ 780,959 (31.12.13 - £ 803,243 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

100

B Ordinary

£1

100

100

100

A Ordinary

£1

100

-

200

100

100 A Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.