Courtleigh Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02516452 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 March 2016

for

Courtleigh Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

A R Kesner

REGISTERED OFFICE:

28 Church Road

Stanmore

Middlesex

HA7 4XR

REGISTERED NUMBER:

02516452 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

28 Church Road

Stanmore

Middlesex

HA7 4XR

FIXED ASSETS

Tangible assets

2

13,317

15,952

CURRENT ASSETS

Stocks

610,000

664,170

Debtors

56,093

82,867

Cash at bank and in hand

16

42

666,109

747,079

CREDITORS

Amounts falling due within one year

3

(661,876

)

(633,582

)

NET CURRENT ASSETS

4,233

113,497

TOTAL ASSETS LESS CURRENT LIABILITIES

17,550

129,449

CAPITAL AND RESERVES

Called up share capital

4

68,750

68,750

Profit and loss account

(51,200

)

60,699

SHAREHOLDERS' FUNDS

17,550

129,449

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 20 December 2016 and were signed by:

A R Kesner - 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 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.

Improvements to property

-

straight line over the life of the lease

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the

rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated

into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken

into account in arriving at the operating result.

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 1 April 2015

114,883

Additions

1,409

At 31 March 2016

116,292

DEPRECIATION

At 1 April 2015

98,931

Charge for year

4,044

At 31 March 2016

102,975

NET BOOK VALUE

At 31 March 2016

13,317

At 31 March 2015

15,952

3.

CREDITORS

Creditors include an amount of £ 288 (2015 - £ 80,289 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

12,500

Ordinary

£1

12,500

12,500

56,250

10% Redeemable Non-Cumulative

Preference

£1

56,250

56,250

68,750

68,750

The preference shares are, on the company's option, redeemable at par at any time. Rights to

dividends are expressed above. In the event of the company being wound up the amounts paid in

respect of preference shares are repayable before any surplus assets are distributed to the ordinary

shareholders.