| Classact Limited |
| Balance Sheet |
| as at 31 March 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
5 |
|
|
21,565 |
|
|
28,569 |
|
| Current assets |
| Stocks |
|
|
61,360 |
|
|
62,760 |
| Debtors |
6 |
|
338,479 |
|
|
266,574 |
| Cash at bank and in hand |
|
|
1,278 |
|
|
1,345 |
|
|
|
401,117 |
|
|
330,679 |
|
| Creditors: amounts falling due within one year |
7 |
|
(318,862) |
|
|
(238,517) |
|
| Net current assets |
|
|
|
82,255 |
|
|
92,162 |
|
| Total assets less current liabilities |
|
|
|
103,820 |
|
|
120,731 |
|
| Creditors: amounts falling due after more than one year |
8 |
|
|
(7,881) |
|
|
(17,116) |
|
| Provisions for liabilities |
9 |
|
|
(4,313) |
|
|
(2,687) |
|
|
| Net assets |
|
|
|
91,626 |
|
|
100,928 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
10 |
|
|
5,100 |
|
|
5,100 |
| Profit and loss account |
11 |
|
|
86,526 |
|
|
95,828 |
|
| Shareholders' funds |
|
|
|
91,626 |
|
|
100,928 |
|
|
|
|
|
|
|
|
| The directors are 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 directors acknowledge their 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. |
|
|
|
|
| M S Prior |
| Director |
| Approved by the board on 10 December 2016 |
|
| Classact Limited |
| Notes to the Accounts |
| for the year ended 31 March 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 work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
20% straight line |
|
Motor vehicles |
25% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
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. |
|
|
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 |
Operating profit |
2016 |
|
2015 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
3,236 |
|
2,386 |
|
Depreciation of assets held under finance leases and hire purchase contracts |
|
9,873 |
|
9,251 |
|
Directors' remuneration |
12,957 |
|
7,956 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Interest payable |
2016 |
|
2015 |
| £ |
£ |
|
|
Interest payable |
3,006 |
|
4,836 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Taxation |
2016 |
|
2015 |
| £ |
£ |
|
|
UK corporation tax |
9,012 |
|
432 |
|
Deferred tax |
1,626 |
|
(1,537) |
|
|
|
|
|
|
10,638 |
|
(1,105) |
|
|
|
|
|
|
|
|
|
|
| 5 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2015 |
16,456 |
|
76,495 |
|
92,951 |
|
Additions |
6,105 |
|
- |
|
6,105 |
|
At 31 March 2016 |
22,561 |
|
76,495 |
|
99,056 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2015 |
12,889 |
|
51,493 |
|
64,382 |
|
Charge for the year |
3,237 |
|
9,872 |
|
13,109 |
|
At 31 March 2016 |
16,126 |
|
61,365 |
|
77,491 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
6,435 |
|
15,130 |
|
21,565 |
|
At 31 March 2015 |
3,567 |
|
25,002 |
|
28,569 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 |
|
2015 |
| £ |
£ |
|
Net book value of plant, machinery and vehicles included above held under finance leases and hire purchase contracts |
|
15,130 |
|
25,053 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Debtors |
2016 |
|
2015 |
| £ |
£ |
|
|
Trade debtors |
183,249 |
|
76,606 |
|
Other debtors |
155,230 |
|
189,968 |
|
|
|
|
|
|
338,479 |
|
266,574 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
| £ |
£ |
|
|
Bank loans and overdrafts |
20,226 |
|
40,440 |
|
Obligations under finance lease and hire purchase contracts |
9,236 |
|
8,674 |
|
Trade creditors |
120,030 |
|
57,242 |
|
Corporation tax |
9,048 |
|
468 |
|
Other taxes and social security costs |
55,570 |
|
67,288 |
|
Other creditors |
104,752 |
|
64,405 |
|
|
|
|
|
|
318,862 |
|
238,517 |
|
|
|
|
|
|
|
|
|
|
Obligations under finance lease and hire purchase contracts are secured against the assets concerned. |
|
|
| 8 |
Creditors: amounts falling due after one year |
2016 |
|
2015 |
| £ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
7,881 |
|
17,116 |
|
|
|
|
|
|
|
|
|
|
Obligations under finance lease and hire purchase contracts are secured against the assets concerned. |
|
|
| 9 |
Provisions for liabilities |
|
Deferred taxation: |
2016 |
|
2015 |
| £ |
£ |
|
|
Accelerated capital allowances |
4,313 |
|
2,687 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 |
|
2015 |
| £ |
£ |
|
|
At 1 April |
2,687 |
|
4,224 |
|
Deferred tax charge in profit and loss account |
1,626 |
|
(1,537) |
|
|
At 31 March |
4,313 |
|
2,687 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
5,100 |
|
5,100 |
|
5,100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 11 |
Profit and loss account |
2016 |
| £ |
|
|
At 1 April 2015 |
95,828 |
|
Profit for the year |
24,448 |
|
Dividends |
(33,750) |
|
|
At 31 March 2016 |
86,526 |
|
|
|
|
|
|
|
|
| 12 |
Dividends |
2016 |
|
2015 |
| £ |
£ |
|
|
Dividends for which the company became liable during the year: |
|
Dividends paid |
33,750 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
| 13 |
Related party transactions |
|
|
The company was under the control of Mr M S Prior during this and the previous year. Mr M S Prior is the managing director and majority shareholder. |
|
|
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities. |
