Elliotts (Cheltenham) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06013962 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st January 2016

for

ELLIOTTS (CHELTENHAM) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N M Elliott

Mrs A C Elliott

SECRETARY:

Mrs A C Elliott

REGISTERED OFFICE:

Pillar House

113/115 Bath Road

Cheltenham

Gloucestershire

GL53 7LS

REGISTERED NUMBER:

06013962 (England and Wales)

ACCOUNTANTS:

Davies Mayers Barnett LLP

Pillar House

113/115 Bath Road

Cheltenham

Gloucestershire

GL53 7LS

FIXED ASSETS

Tangible assets

2

1,795,702

1,193,659

CURRENT ASSETS

Stocks

6,482

6,217

Debtors

924,826

773,343

Cash at bank

288,126

234,302

1,219,434

1,013,862

CREDITORS

Amounts falling due within one year

3

(1,209,313

)

(987,468

)

NET CURRENT ASSETS

10,121

26,394

TOTAL ASSETS LESS CURRENT LIABILITIES

1,805,823

1,220,053

CREDITORS

Amounts falling due after more than one year

3

(871,358

)

(559,565

)

PROVISIONS FOR LIABILITIES

(147,697

)

(86,064

)

NET ASSETS

786,768

574,424

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

786,668

574,324

SHAREHOLDERS' FUNDS

786,768

574,424

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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 28th September 2016 and were signed on its behalf by:

N M Elliott - 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 the value of goods and services supplied to customers during the year, net of Value Added

Tax and trade discounts.

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 cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

15% on cost

Cost is defined as the purchase cost less any residual value.

Depreciation is charged at the above rates with a full 12 months being charged in the year of acquisition.

The net book values of the assets are regularly reviewed by the directors and further adjustments to carrying

values are made where considered appropriate.

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 taxation is recognised in respect of all significant timing differences between the treatment of certain

items for taxation and accounting purposes which have arisen but not reversed by the balance sheet date. Full

provision is made without discounting for all significant deferred tax liabilities. Significant deferred tax assets

are recognised to the extent that it is more likely than not that they will be recovered against taxable profits.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st February 2015

2,020,707

Additions

1,061,076

Disposals

(284,744

)

At 31st January 2016

2,797,039

DEPRECIATION

At 1st February 2015

827,048

Charge for year

330,186

Eliminated on disposal

(155,897

)

At 31st January 2016

1,001,337

NET BOOK VALUE

At 31st January 2016

1,795,702

At 31st January 2015

1,193,659

3.

CREDITORS

Creditors include an amount of £ 1,281,468 (2015 - £ 787,448 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100