Norcrown Limited - Abbreviated accounts 16.1

Norcrown Limited - Abbreviated accounts 16.1

NORCROWN LIMITED - Company Information

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REGISTERED NUMBER: 06929769 (England and Wales)




ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD

1 DECEMBER 2014 TO 28 FEBRUARY 2016

FOR

NORCROWN LIMITED

NORCROWN LIMITED (REGISTERED NUMBER: 06929769)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 1 DECEMBER 2014 TO 28 FEBRUARY 2016




Page

Company Information 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

NORCROWN LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 DECEMBER 2014 TO 28 FEBRUARY 2016







DIRECTORS: M Sellars
J E Sellars





REGISTERED OFFICE: Priory House
2 Priory Road
Dudley
West Midlands
DY1 1HH





REGISTERED NUMBER: 06929769 (England and Wales)





ACCOUNTANTS: Poole Waterfield Limited
Priory House
2 Priory Road
Dudley
West Midlands
DY1 1HH
1
NORCROWN LIMITED (REGISTERED NUMBER: 06929769)

ABBREVIATED BALANCE SHEET
28 FEBRUARY 2016

28.2.16 30.11.14
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 641,205 454,303

CURRENT ASSETS
Stocks 10,600 5,917
Debtors 38,707 23,184
Cash at bank and in hand 34,166 27,858
83,473 56,959
CREDITORS
Amounts falling due within one year 3 798,044 442,884
NET CURRENT LIABILITIES (714,571 ) (385,925 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(73,366
)
68,378

CREDITORS
Amounts falling due after more than one
year
3
(31,354
)
(31,354
)

PROVISIONS FOR LIABILITIES - (14,420 )
NET (LIABILITIES)/ASSETS (104,720 ) 22,604

CAPITAL AND RESERVES
Called up share capital 4 1 1
Profit and loss account (104,721 ) 22,603
SHAREHOLDERS' FUNDS (104,720 ) 22,604

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 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 notes form part of these abbreviated accounts

2
NORCROWN LIMITED (REGISTERED NUMBER: 06929769)

ABBREVIATED BALANCE SHEET - continued
28 FEBRUARY 2016


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 November 2016 and were signed on
its behalf by:





J E Sellars - Director


The notes form part of these abbreviated accounts

3
NORCROWN LIMITED (REGISTERED NUMBER: 06929769)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 1 DECEMBER 2014 TO 28 FEBRUARY 2016

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the going concern basis as support will continue to be
provided by the directors.

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.

Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost and 10% on cost

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.

4
NORCROWN LIMITED (REGISTERED NUMBER: 06929769)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 1 DECEMBER 2014 TO 28 FEBRUARY 2016

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 December 2014 545,311
Additions 221,559
At 28 February 2016 766,870
DEPRECIATION
At 1 December 2014 91,008
Charge for period 34,657
At 28 February 2016 125,665
NET BOOK VALUE
At 28 February 2016 641,205
At 30 November 2014 454,303

3. CREDITORS

Creditors include an amount of £ 41,979 (30.11.14 - £ 41,979 ) for which security has been given.

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.16 30.11.14
value: £    £   
1 Ordinary Shares £1 1 1

5