Chris W Roads Limited - Period Ending 2015-07-31

Registration number: 03611139

Chris W Roads Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2015
 

AIMS Accountants For Business
Montpelier Accountancy Limited
7 Montpelier
Quarndon
Derby
DE22 5JW

Chris W Roads Limited
(Registration number: 03611139)
Abbreviated Balance Sheet at 31 July 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					11,713			14,214
Current assets
Stocks					1,197,584			1,089,685
Debtors					29,871			29,612
Cash at bank and in hand					213,842			98,586
					1,441,297			1,217,883
Creditors: Amounts falling due within one year					(1,217,217)			(1,014,512)
Net current assets					224,080			203,371
Total assets less current liabilities					235,793			217,585
Provisions for liabilities					(20,813)			(20,670)
Net assets					214,980			196,915
Capital and reserves
Called up share capital		4			20,000			20,000
Profit and loss account					194,980			176,915
Shareholders' funds					214,980			196,915

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 20 April 2016 and signed on its behalf by:

.........................................
Anthony Annison
Director

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

Chris W Roads 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 value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Improvements to freehold property	5% straight line
Plant & machinery	15% straight line
Fixtures & fittings	25% straight line
Office equipment	25% straight line

Stock

Stock is 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.

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.

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

Chris W Roads 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		88,343			88,343
Additions		3,393			3,393
At 31 July 2015		91,736			91,736
Depreciation
At 1 August 2014		74,129			74,129
Charge for the year		5,894			5,894
At 31 July 2015		80,023			80,023
Net book value
At 31 July 2015		11,713			11,713
At 31 July 2014		14,214			14,214

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		724,080			755,793

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		20,000			20,000			20,000			20,000

Page 3