C_&_C_MATERIALS_LIMITED - Accounts
C_&_C_MATERIALS_LIMITED - Accounts
Company Registration number 08629115
Abbreviated Accounts
For the year ended 31 July 2015
Financial statements for the year ended 31 July 2015
Contents
Pages
Balance sheet
1
Notes to the financial statements
2-3
Abbreviated balance sheet as at 31 July 2015
2015
2014
Notes
£
£
£
£
£
£
Fixed assets
Intangible assets
Tangible assets
2
2
Current assets
Debtors
Cash at bank and in hand
Creditors:
amounts falling due within one year
(27,322 )
(31,502 )
Net current assets
Total assets less current liabilities
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
Director's responsibilities:
Approved by the board of directors on 28 April 2016 and signed on its behalf.
Company Registration No: 08629115
The notes on pages 2 to 3 form part of these financial statements.
1
Notes to the abbreviated accounts for the year ended 31 July 2015
1
Accounting policies
a)
Basis of accounting
The company has taken advantage of the exemption, conferred by Financial Reporting Standard 1, from presenting a cash flow statement as it qualifies as a small company.
b)
Turnover
c)
Depreciation of tangible fixed assets
Equipment, fixtures and fittings
d)
Goodwill
e)
Deferred taxation
Deferred tax is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date.
A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on a nondiscounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on a nondiscounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
f)
Pension scheme
The company provides a defined contribution pension scheme, the assets of which are held separately from those of the company in an independently administered fund. Contributions to this scheme are charged to the Profit and Loss account as they become payable.
g)
Accounting period
The financial statements cover the year to 31 July 2015. The comparatives cover the period from 29 July 2013 to 31 July 2014.
2
Notes to the abbreviated accounts for the year ended 31 July 2015 (continued)
2
Fixed assets
Intangible
Tangible
fixed
fixed
assets
assets
Total
£
£
£
£
£
£
£
£
£
Cost:
At 1 August 2014
10,000
2,745
12,745
At 31 July 2015
10,000
2,745
12,745
Depreciation:
At 1 August 2014
686
2,686
Provision for the year
2,000
686
2,686
At 31 July 2015
4,000
1,372
5,372
Net book value:
At 31 July 2015
7,373
At 31 July 2014
2,059
10,059
3
Called-up share capital
2015
2014
2015
2014
£
£
£
£
£
£
£
£
£
£
£
£
Allotted, called up and fully paid
Equity shares:
Shares rank pari passu in all respects.
4
Controlling party
The company is controlled by the directors K L Choy and I T H Chang.
3