| The Chancellor Tobacco Company (UK) Limited |
| Registered number: |
04084209 |
| Abbreviated Balance Sheet |
| as at 31 January 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
3,077 |
|
|
4,278 |
| Tangible assets |
3 |
|
|
495,259 |
|
|
564,546 |
|
|
|
|
498,336 |
|
|
568,824 |
|
| Current assets |
| Stocks |
|
|
1,092,774 |
|
|
1,010,472 |
| Debtors |
|
|
137,880 |
|
|
288,435 |
| Cash at bank and in hand |
|
|
281,750 |
|
|
281,812 |
|
|
|
1,512,404 |
|
|
1,580,719 |
|
| Creditors: amounts falling due within one year |
|
|
(1,292,453) |
|
|
(1,220,784) |
|
| Net current assets |
|
|
|
219,951 |
|
|
359,935 |
|
| Total assets less current liabilities |
|
|
|
718,287 |
|
|
928,759 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(56,250) |
|
|
(186,747) |
|
|
|
| Net assets |
|
|
|
662,037 |
|
|
742,012 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
840,100 |
|
|
840,100 |
| Profit and loss account |
|
|
|
(178,063) |
|
|
(98,088) |
|
| Shareholders' funds |
|
|
|
662,037 |
|
|
742,012 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and the Financial Reporting Standard for Smaller Entites (effective January 2015). |
|
|
|
| Mr T Mkhitaryan |
| Director |
| Approved by the board on 31 October 2016 |
|
| The Chancellor Tobacco Company (UK) Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 January 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts 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, net of value added tax and discounts, of goods provided to customers and services provided to customers. |
|
|
Goodwill |
|
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. |
|
|
Amortisation |
|
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows: |
|
|
Goodwill |
10% straight line |
|
Trade marks |
10% straight line |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Leasehold property |
10% straight line |
|
Plant and machinery, fixtures and fittings and office equipment |
|
10% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 February 2015 |
114,826 |
|
At 31 January 2016 |
114,826 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 February 2015 |
110,548 |
|
Provided during the year |
1,201 |
|
At 31 January 2016 |
111,749 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2016 |
3,077 |
|
At 31 January 2015 |
4,278 |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 February 2015 |
866,766 |
|
Additions |
210 |
|
Disposals |
(12,171) |
|
At 31 January 2016 |
854,805 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2015 |
302,220 |
|
Charge for the year |
62,351 |
|
On disposals |
(5,025) |
|
At 31 January 2016 |
359,546 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2016 |
495,259 |
|
At 31 January 2015 |
564,546 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
840,100 |
|
840,100 |
|
840,100 |
|
|
|
|
|
|
|
|
|
