Clearwater Industrial Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04142539 (England and Wales)

CLEARWATER INDUSTRIAL LIMITED

Abbreviated Unaudited Accounts for the Year Ended 31 March 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R J Allen

J Dalby

SECRETARY:

Ms L Bishop

REGISTERED OFFICE:

Clearwater Business Park

Welsh Road East

Napton Holt

Warwickshire

CV47 1NA

REGISTERED NUMBER:

04142539 (England and Wales)

ACCOUNTANTS:

Michael Dufty Partnership Limited

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

65,560

73,537

65,560

73,537

CURRENT ASSETS

Stocks

2,600

2,550

Debtors

40,658

132,353

Cash at bank and in hand

55,325

68,130

98,583

203,033

CREDITORS

Amounts falling due within one year

164,043

216,135

NET CURRENT LIABILITIES

(65,460

)

(13,102

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100

60,435

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

-

60,335

SHAREHOLDERS' FUNDS

100

60,435

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 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 17 December 2015 and were signed on its behalf by:

R J Allen - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

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.

Improvements to property

-

20% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

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.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

77,000

AMORTISATION

At 1 April 2014

and 31 March 2015

77,000

NET BOOK VALUE

At 31 March 2015

-

At 31 March 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

202,010

Additions

1,287

Disposals

(12,495

)

At 31 March 2015

190,802

DEPRECIATION

At 1 April 2014

128,473

Charge for year

9,264

Eliminated on disposal

(12,495

)

At 31 March 2015

125,242

NET BOOK VALUE

At 31 March 2015

65,560

At 31 March 2014

73,537

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1

Ordinary

£1

100

100

5.	ULTIMATE PARENT COMPANY

The ultimate parent company is Clearwater Group International Limited due to its 100% holding of the

company's ordinary shares.

6.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party due to no one person holding more than 50% of the ordinary shares in the

parent company.