Cresney Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04706768 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

CRESNEY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

G O'Brien

SECRETARY:

KSC Secretaries Limited

REGISTERED OFFICE:

Unit 11 Mildmay House

Foundry Lane

Burnham on Crouch

Essex

CM0 8BL

REGISTERED NUMBER:

04706768 (England and Wales)

ACCOUNTANT:

Lescott Courts Limited

Chartered Certified Accountants

49 High Street

Burnham on Crouch

Essex

CM0 8AG

CURRENT ASSETS

Stocks

345,208

Debtors

36,000

-

Cash at bank

10,058

5

391,266

345,213

CREDITORS

Amounts falling due within one year

544,002

495,341

NET CURRENT LIABILITIES

(152,736

)

(150,128

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(152,736

)

(150,128

)

CAPITAL AND RESERVES

Called up share capital

2

80,000

Share premium

80,000

Profit and loss account

(312,736

)

(310,128

)

SHAREHOLDERS' FUNDS

(152,736

)

(150,128

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 30 September 2016 and were signed by:

G O'Brien - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statement have been prepared on a going concern basis. The company is reliant on the support of

the shareholders, who have provided loans totalling £521,278 (2012: £507,410). The shareholders loans will be

repaid on the sale of the property under development.

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 services, excluding value added tax.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

60,000

"A" Ordinary

£1

60,000

20,000

"B" Ordinary

£1

20,000

80,000

The holders of the "A" shares are entitled to appoint an "A" director and the holders of the "B" shares of the "B"

shares are entitled to appoint a "B" director. In all other respects the shares rank pari passu.