James Crossland Limited - Period Ending 2015-12-31

Registration number: 05405968

James Crossland Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Paul Austen Associates Ltd
Chartered Accountants
Charter House
7/9 Wagg Street
Congleton
Cheshire
CW12 4BA

James Crossland Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
James Crossland Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of James Crossland Limited for the year ended 31 December 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of James Crossland Limited, as a body, in accordance with the terms of our engagement letterdated 17 July 2008. Our work has been undertaken solely to prepare for your approval the accounts of James Crossland Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than James Crossland Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that James Crossland Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of James Crossland Limited. You consider that James Crossland Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of James Crossland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Paul Austen Associates Ltd
Chartered Accountants
Charter House
7/9 Wagg Street
Congleton
Cheshire
CW12 4BA

29 September 2016

Page 1

James Crossland Limited
(Registration number: 05405968)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					(2)			1,600
Investments					50			50
					48			1,650
Current assets
Debtors					8,256			244,600
Cash at bank and in hand					515,200			266,001
					523,456			510,601
Creditors: Amounts falling due within one year					(42,190)			(168,312)
Net current assets					481,266			342,289
Net assets					481,314			343,939
Capital and reserves
Called up share capital		3			102			102
Profit and loss account					481,212			343,837
Shareholders' funds					481,314			343,939

For the year ending 31 December 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 director acknowledges his 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 director on 29 September 2016

.........................................
Mr James Matthew Crossland
Chairman

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

James Crossland Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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 January 2015).

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

James Crossland Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 January 2015		7,352			50			7,402
At 31 December 2015		7,352			50			7,402
Depreciation
At 1 January 2015		5,752			-			5,752
Charge for the year		1,602			-			1,602
At 31 December 2015		7,354			-			7,354
Net book value
At 31 December 2015		(2)			50			48
At 31 December 2014		1,600			50			1,650

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100
Ordinary A Shares of £1 each		1			1			1			1
Ordinary B Shares of £1 each		1			1			1			1
		102			102			102			102

New shares allotted

During the year - having an aggregate nominal value of £nil were allotted for an aggregate consideration of £nil.

Page 4

James Crossland Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr James Matthew Crossland
Amount loaned from director	41,439	-	44,952	-
Amount loaned to director	-	-	-	-
	41,439	-	44,952	-

Page 5