Concept Painting Contractors Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04062739 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

CONCEPT PAINTING CONTRACTORS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs M Brown

K Brown

SECRETARY:

Mrs M Brown

REGISTERED OFFICE:

154b Derby Road

Stapleford

Nottingham

Nottinghamshire

NG9 7AY

REGISTERED NUMBER:

04062739 (England and Wales)

ACCOUNTANTS:

Collins Chapple & Co Limited

34a Musters Road

West Bridgford

Nottingham

NG2 7PL

FIXED ASSETS

Tangible assets

2

11,970

14,841

CURRENT ASSETS

Stocks

402,595

498,588

Debtors

79,603

48,759

Cash at bank

-

1

482,198

547,348

CREDITORS

Amounts falling due within one year

389,558

468,204

NET CURRENT ASSETS

92,640

79,144

TOTAL ASSETS LESS CURRENT
LIABILITIES

104,610

93,985

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

104,608

93,983

SHAREHOLDERS' FUNDS

104,610

93,985

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 29 September 2016 and were signed on its behalf by:

K Brown - 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, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

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

of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

86,642

Additions

176

At 31 March 2016

86,818

DEPRECIATION

At 1 April 2015

71,801

Charge for year

3,047

At 31 March 2016

74,848

NET BOOK VALUE

At 31 March 2016

11,970

At 31 March 2015

14,841

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

2

Ordinary

£1

2