Currant Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 04313359 (England and Wales)

Abbreviated Accounts for the Year Ended 31 October 2015

for

Currant Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Kay

C J Plummer

SECRETARY:

J Kay

REGISTERED OFFICE:

25 Generator Hall

Electric Wharf

Sandy Lane

Coventry

West Midlands

CV1 4JL

REGISTERED NUMBER:

04313359 (England and Wales)

ACCOUNTANTS:

NRB Accountancy Limited

33A High Street

Belper

Derbyshire

DE56 1GF

FIXED ASSETS

Tangible assets

2

552,176

557,092

Investments

3

45,098

47,106

597,274

604,198

CURRENT ASSETS

Debtors

244,959

220,839

Cash at bank and in hand

478,507

479,231

723,466

700,070

CREDITORS

Amounts falling due within one year

146,998

157,485

NET CURRENT ASSETS

576,468

542,585

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,173,742

1,146,783

CREDITORS

Amounts falling due after more than one year

4

(86,379

)

(240,485

)

PROVISIONS FOR LIABILITIES

(11,070

)

(10,289

)

NET ASSETS

1,076,293

896,009

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

1,076,193

895,909

SHAREHOLDERS' FUNDS

1,076,293

896,009

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 6 July 2016 and were signed on its behalf by:

J Kay - 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.

Land and buildings

-

4% on cost and in accordance with the property

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

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

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

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

695,388

Additions

22,471

At 31 October 2015

717,859

DEPRECIATION

At 1 November 2014

138,296

Charge for year

27,387

At 31 October 2015

165,683

NET BOOK VALUE

At 31 October 2015

552,176

At 31 October 2014

557,092

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 November 2014

47,106

Additions

6

Disposals

(2,014

)

At 31 October 2015

45,098

NET BOOK VALUE

At 31 October 2015

45,098

At 31 October 2014

47,106

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

DBM (Coventry) Limited

Nature of business: Direct mail & database management.

%

Class of shares:

holding

Ordinary

72.00

31.10.15

31.10.14

£

Aggregate capital and reserves

288,347

140,063

Profit for the year

259,589

213,465

Currant Web Ltd

Nature of business: Web design

%

Class of shares:

holding

Ordinary

60.00

31.10.15

31.10.14

£

Aggregate capital and reserves

(12,168

)

(2,933

)

Loss for the year

(9,243

)

(7,968

)

Associated companies

Arrow Group Limited

Nature of business: Property Income

%

Class of shares:

holding

Ordinary

50.00

31.10.15

31.10.14

£

Aggregate capital and reserves

70,771

64,955

Profit for the year

7,577

8,353

Zube Creative Limited

Nature of business: Marketing

%

Class of shares:

holding

Ordinary

50.00

31.10.15

31.10.14

£

Aggregate capital and reserves

40,464

20,748

Profit for the year

43,385

19,052

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

31.10.15

31.10.14

£

Repayable by instalments

57,579

169,685

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

100

Ordinary

1

100

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director, Mr J Kay, introduced funds to and withdrew funds from the company by way of a directors

loan account. This loan is repayable upon demand and interest of £453 has been charged at the official rate of interest.. At

the year end the director owed the company £25,132 (2014: £10,811) and this amount is included in debtors. The maximum

balance outstanding during the year was £25,132.

During the year the director, Mr C Plummer, introduced funds to and withdrew funds from the company by way of a

directors loan account. This loan is interest free and repayable upon demand. At the year end the company owed the

director £3,220 (2014: £3,220) and this amount is included in creditors.

7.	ULTIMATE CONTROLLING PARTY

The company is controlled by Jason Kay who has an effective interest in 75% of the issued share capital

of the company.