CENTRIC_OFFICE_SOLUTIONS_ - Accounts

CENTRIC OFFICE SOLUTIONS LIMITED - Company Information

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Company Registration No. 02225986 (England and Wales)

CENTRIC OFFICE SOLUTIONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2015

CENTRIC OFFICE SOLUTIONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

CENTRIC OFFICE SOLUTIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

12,643

13,523

Investments

887

12,643

14,410

Current assets

Stocks

33,359

53,254

Debtors

415,673

496,899

Cash at bank and in hand

261,043

350,535

710,075

900,688

Creditors: amounts falling due within one year

(637,668)

(764,077)

Net current assets

72,407

136,611

Total assets less current liabilities

85,050

151,021

Provisions for liabilities

(2,042)

(2,102)

83,008

148,919

Capital and reserves

Called up share capital

50,000

Profit and loss account

33,008

98,919

Shareholders' funds

83,008

148,919

CENTRIC OFFICE SOLUTIONS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 OCTOBER 2015

- 2 -

For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 12 May 2016

Mr Ian Downward

Director

Company Registration No. 02225986

CENTRIC OFFICE SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

straight line over the life of the lease

Fixtures, fittings & equipment

15%-33% reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.9

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

CENTRIC OFFICE SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 November 2014

110,544

Additions

4,395

Disposals

(49,297)

At 31 October 2015

65,642

Depreciation

At 1 November 2014

97,021

On disposals

(47,427)

Charge for the year

3,405

At 31 October 2015

52,999

Net book value

At 31 October 2015

12,643

At 31 October 2014

14,410

Debtors

Debtors include an amount of £121,698 (2014 - £121,698) which is due after more than one year.

Share capital

2015

2014

Authorised

50,000 Ordinary of £1 each

50,000

Allotted, called up and fully paid

50,000 Ordinary of £1 each

50,000

Related party relationships and transactions

Directors' guarantee

Three of the directors, Ian Downward, Philip James Sloan and Paul Franchi Tindale have given to Cumberland Building Society limited joint and several personal guarantees of the company's obligations in the sum of £50,000.