CENTRAL_GLASS_AND_WINDOWS - Accounts
CENTRAL_GLASS_AND_WINDOWS - Accounts
Company Registration No. 07459840 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CENTRAL GLASS AND WINDOWS LIMITED FOR THE YEAR ENDED 31 JANUARY 2016
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Central Glass and Windows Limited for the year ended 31 January 2016 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Central Glass and Windows Limited, as a body, in accordance with the terms of our engagement letter dated 4 January 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Central Glass and Windows Limited and state those matters that we have agreed to state to the Board of Directors of Central Glass and Windows Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Central Glass and Windows Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Central Glass and Windows Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Central Glass and Windows Limited. You consider that Central Glass and Windows 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 financial statements of Central Glass and Windows 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 financial statements.
Knowles Warwick Limited
Chartered Accountants
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
2
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(147,982 )
(186,895 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
4
(2,162 )
(5,286 )
Provisions for liabilities
(3,816 )
(3,908 )
78,419
23,535
Capital and reserves
Called up share capital
5
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2016
3
Directors' responsibilities:
-
-
Approved by the Board for issue on 7 October 2016
Director
Company Registration No. 07459840
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
4
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
5
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015
33,706
Additions
4,099
At 31 January 2016
37,805
Depreciation
At 1 February 2015
13,969
Charge for the year
4,597
At 31 January 2016
18,566
Net book value
At 31 January 2016
19,239
At 31 January 2015
19,737
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £3,123 (2015 - £8,695).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £2,340 (2015 - £5,286).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid