Commerce Windows Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04699391 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 31 July 2015

for

Commerce Windows Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

W J Liptrot

REGISTERED OFFICE:

44 Griffith Street

RUSHDEN

Northants

NN10 0RL

REGISTERED NUMBER:

04699391 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

The Stables

Church Walk

Daventry

Northamptonshire

NN11 4BL

FIXED ASSETS

Intangible assets

2

12,500

15,000

Tangible assets

3

27,217

19,646

39,717

34,646

CURRENT ASSETS

Stocks

8,040

35,394

Debtors

80,133

44,729

Cash in hand

-

(43

)

88,173

80,080

CREDITORS

Amounts falling due within one year

4

163,394

214,073

NET CURRENT LIABILITIES

(75,221

)

(133,993

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(35,504

)

(99,347

)

CREDITORS

Amounts falling due after more than one
year

4

(12,048

)

(9,520

)

PROVISIONS FOR LIABILITIES

(4,286

)

(2,518

)

NET LIABILITIES

(51,838

)

(111,385

)

CAPITAL AND RESERVES

Called up share capital

5

4

Profit and loss account

(51,842

)

(111,389

)

SHAREHOLDERS' FUNDS

(51,838

)

(111,385

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 28 April 2016 and were signed by:

W J Liptrot - 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 2010, 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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks and work in progress

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Work in progress is valued as a percentage of selling price, the percentage being based on the stage of

completion of a project as at the balance sheet date.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Going concern

The financial statements show an excess of liabilities over assets at the year end, the accounts have been

prepared on a going concern basis.

In deciding to prepare the accounts on this basis, the Director has taken account of the ongoing financial

support that the Director and shareholder are providing and intend to continue to provide to the Company.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

25,000

AMORTISATION

At 1 August 2014

10,000

Amortisation for year

2,500

At 31 July 2015

12,500

NET BOOK VALUE

At 31 July 2015

12,500

At 31 July 2014

15,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

45,148

Additions

15,490

Disposals

(8,600

)

At 31 July 2015

52,038

DEPRECIATION

At 1 August 2014

25,502

Charge for year

5,878

Eliminated on disposal

(6,559

)

At 31 July 2015

24,821

NET BOOK VALUE

At 31 July 2015

27,217

At 31 July 2014

19,646

4.

CREDITORS

Creditors include an amount of £ 55,972 (31/7/14 - £ 60,868 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/7/15

31/7/14

value:

£

2

Ordinary A

£1

2

Ordinary B

£1

2

4