Castille Homes Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02406743 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

FOR

CASTILLE HOMES LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

88,231

88,395

CURRENT ASSETS

Stocks

17,774

27,964

Debtors

11,486

7,814

Cash at bank and in hand

29,980

11,107

59,240

46,885

CREDITORS

Amounts falling due within one year

5,915

23,826

NET CURRENT ASSETS

53,325

23,059

TOTAL ASSETS LESS CURRENT LIABILITIES

141,556

111,454

CREDITORS

Amounts falling due after more than one year

215,754

171,554

NET LIABILITIES

(74,198

)

(60,100

)

CAPITAL AND RESERVES

Called up share capital

3

62,512

62,512

Profit and loss account

(136,710

)

(122,612

)

SHAREHOLDERS' FUNDS

(74,198

)

(60,100

)

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

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

D C Reece - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared in accordance with the applicable accounting standards. The principal

accounting policies adopted in the preparation of the financial statements are set out below.

As disclosed on page 3, the company made a loss before tax of £14,098 (2015: £4,980). At the year end the

company had overall net liabilities of £74,198 (2015: £60,100). Creditors falling due after more than one year

relate to loans from the directors and their family. The directors have stated that they will continue to support the

company in order for the company to meet its day to day liabilities. The accounts have therefore been prepared

on a going concern basis.

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 comprises the value of sales (net of value added tax) of goods and services provided in the normal

course of business. Revenue is recognised in respect of service contracts when the company obtains the right to

consideration.

Tangible fixed assets

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

Freehold property

-

not provided

Improvements to property

-

Straight line over 15 years

Plant and machinery

-

25% on reducing balance and nil

Fixtures and fittings

-

15% on reducing balance and Straight line over 3 years

Depreciation is not provided for on Freehold property nor on museum display stock, within Plant and machinery.

It is the opinion of the directors that the useful economic life of such assets is of sufficient length to make any

depreciation charge immaterial to the accounts.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

188,032

Additions

524

At 31 January 2016

188,556

DEPRECIATION

At 1 February 2015

99,637

Charge for year

688

At 31 January 2016

100,325

NET BOOK VALUE

At 31 January 2016

88,231

At 31 January 2015

88,395

3.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

£

250,049

Share capital 1

£1

62,512

62,512

In 2005 the company issued 208,374 ordinary shares for cash at par. The first call on these shares was paid at a

rate of £0.10 per £1 ordinary share at the time of issue. The remaining £0.90 per share remains outstanding.

4.

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