Chase of Milford Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06939756 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2015

FOR

CHASE OF MILFORD LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr N M Wills

REGISTERED OFFICE:

The White House

76 Main Road

Milford

Staffordshire

ST17 OUW

REGISTERED NUMBER:

06939756 (England and Wales)

ACCOUNTANTS:

Howards Limited

Chartered Certified Accountants

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

FIXED ASSETS

Intangible assets

2

100,000

110,000

Tangible assets

3

6,520

8,211

106,520

118,211

CURRENT ASSETS

Stocks

6,765

22,075

Debtors

3,172

2,485

Cash at bank and in hand

100,806

145,915

110,743

170,475

CREDITORS

Amounts falling due within one year

13,674

63,102

NET CURRENT ASSETS

97,069

107,373

TOTAL ASSETS LESS CURRENT LIABILITIES

203,589

225,584

PROVISIONS FOR LIABILITIES

1,144

1,446

NET ASSETS

202,445

224,138

CAPITAL AND RESERVES

Called up share capital

4

2

1

Profit and loss account

202,443

224,137

SHAREHOLDERS' FUNDS

202,445

224,138

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

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

The director acknowledges his 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 director on 15th December 2015 and were signed by:

Mr N M Wills - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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).

Accounting convention

The financial statements have been prepared under the historical cost convention and are in accordance with

applicable accounting standards.

Turnover

Turnover represents the sales of goods net of VAT and trade discounts. Turnover is recognised when the goods

are physically delivered to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of fifteen years.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net

realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow

moving, obsolete or damaged stock where the net realisable value is less than cost.

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2014

and 31st March 2015

150,000

AMORTISATION

At 1st April 2014

40,000

Amortisation for year

10,000

At 31st March 2015

50,000

NET BOOK VALUE

At 31st March 2015

100,000

At 31st March 2014

110,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2014

25,189

Additions

436

At 31st March 2015

25,625

DEPRECIATION

At 1st April 2014

16,978

Charge for year

2,127

At 31st March 2015

19,105

NET BOOK VALUE

At 31st March 2015

6,520

At 31st March 2014

8,211

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

2

1

1 Ordinary share of £1 was issued during the year for cash of £ 1 .