COMPLETE_ROOFING_SYSTEMS_ - Accounts
COMPLETE_ROOFING_SYSTEMS_ - Accounts
Company Registration No. 07476657 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(1,021,899 )
(1,105,943 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
4
(21,391 )
(43,395 )
Provisions for liabilities
(4,474 )
(5,109 )
272,835
141,035
Capital and reserves
Called up share capital
5
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 30 September 2015
Director
Company Registration No. 07476657
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
1.2
Turnover
1.3
Tangible fixed assets and depreciation
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
1.4
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. 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 payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.
1.6
Deferred taxation
Deferred tax is recognised in respect of all timing differences which have originated but not reversed at the balance sheet date. Timing differences are differences between taxable profits and the results as stated in the financial statements which arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non - discounted basis.
Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non - discounted basis.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014
167,133
Additions
20,531
At 31 December 2014
187,664
Depreciation
At 1 January 2014
46,400
Charge for the period
31,324
At 31 December 2014
77,724
Net book value
At 31 December 2014
109,940
At 31 December 2013
120,733
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £249,294 (2013 - £159,938).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £21,391 (2013 - £43,395).
5
Share capital
2014
2013
£
£
Allotted, called up and fully paid