Cheshire Energy & Developments Limited - Period Ending 2015-07-31

Registration number: 07412641

Cheshire Energy & Developments Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2015
 

Paul Austen Associates
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Congleton
Cheshire
CW12 4BA

Cheshire Energy & Developments Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Cheshire Energy & Developments Limited
for the Year Ended 31 July 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cheshire Energy & Developments Limited for the year ended 31 July 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Cheshire Energy & Developments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Cheshire Energy & Developments Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cheshire Energy & Developments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cheshire Energy & Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Cheshire Energy & Developments Limited. You consider that Cheshire Energy & Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Cheshire Energy & Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Paul Austen Associates
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Congleton
Cheshire
CW12 4BA

22 September 2015

Page 1

Cheshire Energy & Developments Limited
(Registration number: 07412641)
Abbreviated Balance Sheet at 31 July 2015

		Note			31 July 2015 £			31 July 2014 £
Fixed assets
Tangible fixed assets					8,348			11,131
Current assets
Debtors					21,251			33,369
Cash at bank and in hand					-			17,325
					21,251			50,694
Creditors: Amounts falling due within one year					(28,044)			(53,016)
Net current liabilities					(6,793)			(2,322)
Total assets less current liabilities					1,555			8,809
Creditors: Amounts falling due after more than one year					(4,167)			(6,167)
Net (liabilities)/assets					(2,612)			2,642
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					(2,613)			2,641
Shareholders' (deficit)/funds					(2,612)			2,642

For the year ending 31 July 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 22 September 2015 and signed on its behalf by:

.........................................
Mr Matthew Burgess
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Cheshire Energy & Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... 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 values, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% Reducing Balance
Motor vehicles	25% Reducing Balance

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Cheshire Energy & Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2014		20,180			20,180
At 31 July 2015		20,180			20,180
Depreciation
At 1 August 2014		9,049			9,049
Charge for the year		2,783			2,783
At 31 July 2015		11,832			11,832
Net book value
At 31 July 2015		8,348			8,348
At 31 July 2014		11,131			11,131

3	Share capital

Allotted, called up and fully paid shares

	31 July 2015						31 July 2014
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

4	Related party transactions

Directors' advances and credits

	Year ended 31 July 2015 Advance/ Credit £	Year ended 31 July 2015 Repaid £	1 November 2013 to 31 July 2014 Advance/ Credit £	1 November 2013 to 31 July 2014 Repaid £
Mr Matthew Burgess
Amount loaned from director	-	-	1,081	-
Amount loaned to director	16,367	-	-	-
	16,367	-	1,081	-

Page 4