Chambers Electrical (Wolverhampton) Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 01047567 (England and Wales)

Abbreviated Accounts for the Year Ended 30 April 2015

for

Chambers Electrical (Wolverhampton)

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr L W Chambers

Mrs T L Chambers

Mr R Chambers

SECRETARY:

Mrs T L Chambers

REGISTERED OFFICE:

74 Aldersley Road

Tettenhall

Wolverhampton

West Midlands

WV6 9LZ

REGISTERED NUMBER:

01047567 (England and Wales)

ACCOUNTANTS:

Haines Watts

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

FIXED ASSETS

Tangible assets

2

61,393

62,633

CURRENT ASSETS

Stocks

30,000

30,000

Debtors

187,311

191,890

Cash at bank and in hand

100,888

95,530

318,199

317,420

CREDITORS

Amounts falling due within one year

116,879

117,442

NET CURRENT ASSETS

201,320

199,978

TOTAL ASSETS LESS CURRENT LIABILITIES

262,713

262,611

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

262,613

262,511

SHAREHOLDERS' FUNDS

262,713

262,611

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 27 January 2016 and were signed on its behalf by:

Mr L W Chambers - Director

Mrs T L Chambers - 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, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work

done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and

contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

No depreciation is provided on freehold buildings, as the buildings are maintained to such a standard that their

estimated residual value is not less than their cost. The policy is not in accordance with Financial Reporting

Standard 15 Tangible Fixed Assets. However, in the opinion of the directors the effect is not material.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

123,698

Disposals

(9,869

)

At 30 April 2015

113,829

DEPRECIATION

At 1 May 2014

61,065

Charge for year

648

Eliminated on disposal

(9,277

)

At 30 April 2015

52,436

NET BOOK VALUE

At 30 April 2015

61,393

At 30 April 2014

62,633

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary Shares

£1

100

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2015 and

30 April 2014:

2015

2014

£

£

Mr L W Chambers

Balance outstanding at start of year

-

-

Amounts advanced

382

-

Amounts repaid

-

-

Balance outstanding at end of year

382

-

5.	CONTROLLING PARTY

The controlling party is Mr L W Chambers, director and majority shareholder. There is no other ultimate

controlling party.