Clifford Engineering (Hull) Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 05868123 (England and Wales)

Clifford Engineering (Hull) Limited

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

1,500

2,000

Tangible assets

3

143,336

98,103

144,836

100,103

CURRENT ASSETS

Stocks

1,450

1,180

Debtors

58,591

61,108

Cash at bank

69,923

37,437

129,964

99,725

CREDITORS

Amounts falling due within one year

65,525

53,516

NET CURRENT ASSETS

64,439

46,209

TOTAL ASSETS LESS CURRENT LIABILITIES

209,275

146,312

CREDITORS

Amounts falling due after more than one year

(67,269

)

(49,933

)

PROVISIONS FOR LIABILITIES

(25,408

)

(19,501

)

NET ASSETS

116,598

76,878

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

116,596

76,876

SHAREHOLDERS' FUNDS

116,598

76,878

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 25 September 2014 and were signed by:

Mr M R Clifford - 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 April 2008).

Turnover

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

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done

in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and

contracts for on-going services is recognised by reference to the stage of completion.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

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 reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 where transactions or events have occurred at that date that will result in an obligation to pay more, or

a right to pay less or to receive more, tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted 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.

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

period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either 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.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

5,000

AMORTISATION

At 1 April 2013

3,000

Amortisation for year

500

At 31 March 2014

3,500

NET BOOK VALUE

At 31 March 2014

1,500

At 31 March 2013

2,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

158,894

Additions

72,851

At 31 March 2014

231,745

DEPRECIATION

At 1 April 2013

60,791

Charge for year

27,618

At 31 March 2014

88,409

NET BOOK VALUE

At 31 March 2014

143,336

At 31 March 2013

98,103

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary £1

1.00

2

2