The Cambridge Stamp Centre Limited - Period Ending 2015-10-31

Registration number: 01277970

The Cambridge Stamp Centre Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

The Cambridge Stamp Centre Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

The Cambridge Stamp Centre Limited
(Registration number: 01277970)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Current assets
Stocks					10,000			10,000
Debtors					97,849			49,418
					107,849			59,418
Creditors: Amounts falling due within one year					(100,709)			(62,204)
Total assets less current liabilities					7,140			(2,786)
Creditors: Amounts falling due after more than one year					(4,730)			(6,194)
Net assets/(liabilities)					2,410			(8,980)
Capital and reserves
Called up share capital		3			5,000			5,000
Profit and loss account					(2,590)			(13,980)
Shareholders' funds/(deficit)					2,410			(8,980)

For the year ending 31 October 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 25 July 2016 and signed on its behalf by:

G G S Edwards
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

The Cambridge Stamp Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

The Cambridge Stamp Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2014		10,195			10,195
Disposals		(10,195)			(10,195)
At 31 October 2015		-			-
Depreciation
At 1 November 2014		10,195			10,195
Eliminated on disposals		(10,195)			(10,195)
At 31 October 2015		-			-
Net book value
At 31 October 2015		-			-
At 31 October 2014		-			-

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
ordinary shares of £1 each		5,000			5,000			5,000			5,000

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
G G S Edwards
Loan	40,135	-	57,781	30,325

5

Control

The company is controlled by the directors who own 100% of the issued share capital.

Page 3