Abbreviated Company Accounts - CHALLENGE FORGE LIMITED

Abbreviated Company Accounts - CHALLENGE FORGE LIMITED

CHALLENGE FORGE LIMITED - Company Information

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Registered Number 04911029

CHALLENGE FORGE LIMITED

Abbreviated Accounts

30 September 2015

CHALLENGE FORGE LIMITED Registered Number 04911029

Abbreviated Balance Sheet as at 30 September 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 148,917 140,986
148,917 140,986
Current assets
Stocks 10,500 7,000
Debtors 55,200 69,243
Cash at bank and in hand 57,608 60,491
123,308 136,734
Creditors: amounts falling due within one year (77,714) (78,099)
Net current assets (liabilities) 45,594 58,635
Total assets less current liabilities 194,511 199,621
Creditors: amounts falling due after more than one year (37,637) (37,966)
Provisions for liabilities (9,688) (7,520)
Total net assets (liabilities) 147,186 154,135
Capital and reserves
Called up share capital 200 200
Profit and loss account 146,986 153,935
Shareholders' funds 147,186 154,135
  • For the year ending 30 September 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 10 May 2016

And signed on their behalf by:
C Bates, Director
M Bates, Director

CHALLENGE FORGE LIMITED Registered Number 04911029

Notes to the Abbreviated Accounts for the period ended 30 September 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Property - 2% p.a. on Straight line basis
Plant & Machinery - 25-33% p.a. on Reducing balance basis
Fixtures & Fittings - 20% p.a. on Reducing balance basis
Motor Vehicles - 25% p.a. on Reducing balance basis

Intangible assets amortisation policy
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 10% p.a. on Straight line basis

2Tangible fixed assets
£
Cost
At 1 October 2014 221,227
Additions 26,053
Disposals (16,000)
Revaluations -
Transfers -
At 30 September 2015 231,280
Depreciation
At 1 October 2014 80,241
Charge for the year 15,980
On disposals (13,858)
At 30 September 2015 82,363
Net book values
At 30 September 2015 148,917
At 30 September 2014 140,986