Celtic Fireworks Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 05097795 (England and Wales)

CELTIC FIREWORKS LTD

ABBREVIATED UNAUDITED ACCOUNTS FOR THE PERIOD 1 MAY 2015 TO 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C R Allen

J M R Finch

REGISTERED OFFICE:

C/O Wilkins Kennedy LLP

Bridge House

London Bridge

London

SE1 9QR

REGISTERED NUMBER:

05097795 (England and Wales)

FIXED ASSETS

Tangible assets

2

27,625

21,920

CURRENT ASSETS

Stocks

514,528

714,880

Debtors

269,272

35,673

Cash at bank

300,991

1,655

1,084,791

752,208

CREDITORS

Amounts falling due within one year

(626,900

)

(420,045

)

NET CURRENT ASSETS

457,891

332,163

TOTAL ASSETS LESS CURRENT
LIABILITIES

485,516

354,083

CREDITORS

Amounts falling due after more than one
year

-

(4,759

)

PROVISIONS FOR LIABILITIES

(5,525

)

-

NET ASSETS

479,991

349,324

CAPITAL AND RESERVES

Called up share capital

3

100

3

Profit and loss account

479,891

349,321

SHAREHOLDERS' FUNDS

479,991

349,324

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

The members have not required the company to obtain an audit of its financial statements for the period 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 21 July 2016 and were signed on its
behalf by:

C R Allen - Director

J M R Finch - 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 and services, excluding value added tax and

adjusted for accrued revenue calculated by reference to the fair value of services performed up to

the balance sheet date but not invoiced.

Tangible fixed assets

Plant and machinery & motor vehicles - 25% on reducing balance

Computer equipment - 33 1/3% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Going concern

The accounts are prepared on a going concern basis. The use of the going concern basis

accounting is appropriate because there are no material uncertainties related to events or conditions

that may cast significant doubt about the ability of the company to continue as a going concern.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

80,779

Additions

10,208

At 31 December 2015

90,987

DEPRECIATION

At 1 May 2015

58,859

Charge for period

4,503

At 31 December 2015

63,362

NET BOOK VALUE

At 31 December 2015

27,625

At 30 April 2015

21,920

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

value:

£

100

Ordinary

£1

100

3

97 Ordinary shares of £1 were issued during the period for cash of £ 97 .