Chingford Technical Coatings Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01478326 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 29th February 2016

for

Chingford Technical Coatings Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

S Searle

SECRETARY:

Mrs D Searle

REGISTERED OFFICE:

Trios House

Reform Road

Maidenhead

Berkshire

SL6 8BY

REGISTERED NUMBER:

01478326 (England and Wales)

ACCOUNTANTS:

Hannaways

Trios House

Reform Road

Maidenhead

Berkshire

SL6 8BY

FIXED ASSETS

Tangible assets

2

44,443

36,210

CURRENT ASSETS

Stocks

2,500

Debtors

41,645

30,206

Cash at bank and in hand

6,239

11,402

50,384

44,108

CREDITORS

Amounts falling due within one year

41,688

43,079

NET CURRENT ASSETS

8,696

1,029

TOTAL ASSETS LESS CURRENT
LIABILITIES

53,139

37,239

CREDITORS

Amounts falling due after more than one
year

16,643

2,188

NET ASSETS

36,496

35,051

CAPITAL AND RESERVES

Called up share capital

3

2,700

Profit and loss account

33,796

32,351

SHAREHOLDERS' FUNDS

36,496

35,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2016 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 27th June 2016 and were signed by:

S Searle - 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 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

-

15% 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st March 2015

108,551

Additions

26,628

Disposals

(16,490

)

At 29th February 2016

118,689

DEPRECIATION

At 1st March 2015

72,341

Charge for year

11,438

Eliminated on disposal

(9,533

)

At 29th February 2016

74,246

NET BOOK VALUE

At 29th February 2016

44,443

At 28th February 2015

36,210

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2,700

Ordinary

£1

2,700