Chandler Reynolds Limited - Period Ending 2016-03-31

Registration number: 04399813

Chandler Reynolds Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Chandler Reynolds Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Chandler Reynolds Limited
(Registration number: 04399813)
Abbreviated Balance Sheet
at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			2,717			2,297
Current assets
Stocks					32,757			53,109
Debtors					6,789			5,473
					39,546			58,582
Creditors: Amounts falling due within one year					(52,235)			(43,659)
Net current (liabilities)/assets					(12,689)			14,923
Net (liabilities)/assets					(9,972)			17,220
Capital and reserves
Called up share capital		3			25,000			25,000
Profit and loss account					(34,972)			(7,780)
Shareholders' (deficit)/funds					(9,972)			17,220

For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board and authorised for issue on 22 December 2016 and signed on its behalf by:

A Owen-Price
Director

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Chandler Reynolds Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 March 2016

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Going concern

The company is dependent on the continued support of the directors. The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible fixed assets and depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% per annum

Stock

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 tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the Financial Reporting Standard for Smaller Entities. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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Chandler Reynolds Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 March 2016

2	Fixed assets

		Tangible assets £
Cost
At 1 April 2015		21,034
Additions		1,125
At 31 March 2016		22,159
Depreciation
At 1 April 2015		18,737
Charge for the year		705
At 31 March 2016		19,442
Net book value
At 31 March 2016		2,717
At 31 March 2015		2,297

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £ 1 each		100			100			-			-
Ordinary A shares of £ 1 each		9,950			9,950			10,000			10,000
Ordinary B shares of £ 1 each		9,950			9,950			10,000			10,000
Ordinary C non-voting shares of £ 1 each		5,000			5,000			5,000			5,000
		25,000			25,000			25,000			25,000

The classes of share referred to above carry separate rights to dividends but in all other respects rank pari passu except for the Ordinary C non-voting shares which carry no voting rights.

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