Craig Barnes Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05512950 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Craig Barnes Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C A Barnes

A B Carter

SECRETARY:

Mrs C P Barnes

REGISTERED OFFICE:

Breeze Hill

Gregson Lane

Hoghton

Preston

Lancashire

PR5 0LE

REGISTERED NUMBER:

05512950 (England and Wales)

ACCOUNTANTS:

Egan Roberts Limited

Chartered Accountants

Manor Court

Salesbury Hall Road

Ribchester

Lancashire

PR3 3XR

FIXED ASSETS

Tangible assets

2

11,736

14,597

CURRENT ASSETS

Stocks

1,716

-

Debtors

136,347

104,253

Cash at bank

95,335

148,961

233,398

253,214

CREDITORS

Amounts falling due within one year

53,214

50,495

NET CURRENT ASSETS

180,184

202,719

TOTAL ASSETS LESS CURRENT
LIABILITIES

191,920

217,316

CREDITORS

Amounts falling due after more than one
year

(8,298

)

(11,160

)

PROVISIONS FOR LIABILITIES

(3,286

)

(2,745

)

NET ASSETS

180,336

203,411

CAPITAL AND RESERVES

Called up share capital

3

200

Profit and loss account

180,136

203,211

SHAREHOLDERS' FUNDS

180,336

203,411

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

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

The directors acknowledge their 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 Board of Directors on 1 July 2016 and were signed on its behalf by:

C A Barnes - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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

-

15% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

40,178

Additions

997

At 31 December 2015

41,175

DEPRECIATION

At 1 January 2015

25,581

Charge for year

3,858

At 31 December 2015

29,439

NET BOOK VALUE

At 31 December 2015

11,736

At 31 December 2014

14,597

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

200

Ordinary

1

200