East Coast Flooring Limited - Period Ending 2014-04-30

Registration number: 03759195

East Coast Flooring Limited

Unaudited Abbreviated Accounts

FOR THE Year Ended 30 April 2014
 

East Coast Flooring Limited
Contents

			Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

East Coast Flooring Limited
(Registration number: 03759195)
Abbreviated Balance Sheet at 30 April 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					344,914			353,396
Current assets
Stocks					26,525			29,911
Debtors					237,391			122,989
Cash at bank and in hand					944,451			958,509
					1,208,367			1,111,409
Creditors: Amounts falling due within one year					(283,076)			(163,821)
Net current assets					925,291			947,588
Total assets less current liabilities					1,270,205			1,300,984
Provisions for liabilities					(12,822)			(11,532)
Net assets					1,257,383			1,289,452
Capital and reserves
Called up share capital		3			125			125
Profit and loss account					1,257,258			1,289,327
Shareholders' funds					1,257,383			1,289,452

For the year ending 30 April 2014 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the director on 12 September 2014

.........................................
J D Cooksey
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

East Coast Flooring Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Fixtures and fittings	15% reducing balance & 33% straight line
Motor vehicles	25% reducing balance
Land and buildings	2% straight line

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

East Coast Flooring Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2013		466,773			466,773
Additions		28,821			28,821
Disposals		(25,400)			(25,400)
At 30 April 2014		470,194			470,194
Depreciation
At 1 May 2013		113,377			113,377
Charge for the year		26,615			26,615
Eliminated on disposals		(14,712)			(14,712)
At 30 April 2014		125,280			125,280
Net book value
At 30 April 2014		344,914			344,914
At 30 April 2013		353,396			353,396

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Class A Shares of £1 each		100			100			100			100
Ordinary Class B Shares of £1 each		25			25			25			25
		125			125			125			125

Page 3