Carol Peace Ltd - Limited company accounts 11.9

REGISTERED NUMBER: 05762058 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2015

for

Carol Peace Ltd

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Mrs C Peace

SECRETARY:

G Woodruff

REGISTERED OFFICE:

Unit 5.2

Paintworks

Bath Road

Bristol

BS4 3EH

REGISTERED NUMBER:

05762058 (England and Wales)

ACCOUNTANTS:

Create Accountancy Solutions Limited

The West Wing

I Glass Wharf

Temple Quay

Bristol

BS2 0EL

The director presents her report with the financial statements of the company for the year ended 31 March 2015.

DIRECTOR

Mrs C Peace held office during the whole of the period from 1 April 2014 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mrs C Peace - Director

4 November 2015

TURNOVER

179,160

100,579

Cost of sales

80,533

28,449

GROSS PROFIT

98,627

72,130

Administrative expenses

56,925

52,789

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

2

41,702

19,341

Tax on profit on ordinary activities

3

9,197

2,593

PROFIT FOR THE FINANCIAL YEAR

32,505

16,748

FIXED ASSETS

Tangible assets

5

8,538

9,369

CURRENT ASSETS

Stocks

66,118

81,651

Debtors

6

21,766

17,360

Cash at bank

5,226

2,663

93,110

101,674

CREDITORS

Amounts falling due within one year

7

79,207

107,470

NET CURRENT ASSETS/(LIABILITIES)

13,903

(5,796

)

TOTAL ASSETS LESS CURRENT LIABILITIES

22,441

3,573

CAPITAL AND RESERVES

Called up share capital

8

100

100

Profit and loss account

9

22,341

3,473

SHAREHOLDERS' FUNDS

22,441

3,573

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 4 November 2015 and were signed by:

Mrs C Peace - 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.

Plant and machinery etc

-

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.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.15

31.3.14

£

£

Depreciation - owned assets

831

3,120

Director's remuneration and other benefits etc

8,282

7,696

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

31.3.15

31.3.14

£

£

Current tax:

UK corporation tax

9,197

2,593

Tax on profit on ordinary activities

9,197

2,593

4.

DIVIDENDS

31.3.15

31.3.14

£

£

Ordinary shares of 1 each

Interim

13,637

20,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2014

and 31 March 2015

36,664

DEPRECIATION

At 1 April 2014

27,295

Charge for year

831

At 31 March 2015

28,126

NET BOOK VALUE

At 31 March 2015

8,538

At 31 March 2014

9,369

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.15

31.3.14

£

£

Trade debtors

2,961

-

Other debtors

18,805

17,360

21,766

17,360

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.15

31.3.14

£

£

Trade creditors

1

6,813

Taxation and social security

8,506

2,990

Other creditors

70,700

97,667

79,207

107,470

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Profit

and loss

account

£

At 1 April 2014

3,473

Profit for the year

32,505

Dividends

(13,637

)

At 31 March 2015

22,341

10.	RELATED PARTY DISCLOSURES