Abbreviated Company Accounts - COTSWOLD HEALTH PRODUCTS LIMITED
Abbreviated Company Accounts - COTSWOLD HEALTH PRODUCTS LIMITED
Registered Number 01015946
COTSWOLD HEALTH PRODUCTS LIMITED
Abbreviated Accounts
3 March 2015
COTSWOLD HEALTH PRODUCTS LIMITED Registered Number 01015946
Abbreviated Balance Sheet as at 3 March 2015
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Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 3 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 3 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
COTSWOLD HEALTH PRODUCTS LIMITED Registered Number 01015946
Notes to the Abbreviated Accounts for the period ended 3 March 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Tools & Equipment - 25% per annum reducing balance basis
Office Equipment - 25% per annum reducing balance basis
Furniture & Fittings - 33.3% straight line basis
Motor Vehicles - 25% per annum reducing balance basis
Other accounting policies
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. 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 applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profit. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.
Pensions
The company operated a defined contribution pension scheme, Cotswold Health Products Limited Pension Scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year.
£ | |
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Cost | |
At 4 March 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 3 March 2015 |
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Depreciation | |
At 4 March 2014 |
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Charge for the year |
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On disposals |
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At 3 March 2015 |
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Net book values | |
At 3 March 2015 | 15,968 |
At 3 March 2014 | 20,789 |
2015
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2014
£ |
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Secured Debts |
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