C Twigg and Son Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04120135

Abbreviated Unaudited Accounts

for the Year Ended 31 January 2014

for

C Twigg and Son Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

W Codd

P Codd

S Cheetham

SECRETARY:

S Cheetham

REGISTERED OFFICE:

Victoria Court

91 Huddersfield Road

Holmfirth

West Yorkshire

HD9 3JA

REGISTERED NUMBER:

04120135

ACCOUNTANTS:

Balance Accountants

Victoria Court

91 Huddersfield Road

Holmfirth

West Yorkshire

HD9 3JA

FIXED ASSETS

Intangible assets

2

17,500

20,000

Tangible assets

3

221,599

226,059

239,099

246,059

CURRENT ASSETS

Stocks

3,320

4,461

Debtors

60,599

76,394

Cash at bank and in hand

-

210

63,919

81,065

CREDITORS

Amounts falling due within one year

4

162,749

182,551

NET CURRENT LIABILITIES

(98,830

)

(101,486

)

TOTAL ASSETS LESS CURRENT LIABILITIES

140,269

144,573

CREDITORS

Amounts falling due after more than one year

4

163,467

161,576

NET LIABILITIES

(23,198

)

(17,003

)

CAPITAL AND RESERVES

Called up share capital

5

3

3

Revaluation reserve

62,693

65,305

Profit and loss account

(85,894

)

(82,311

)

SHAREHOLDERS' FUNDS

(23,198

)

(17,003

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2014 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 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 22 October 2014 and were signed on its behalf by:

W Codd - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis which assumes that the company will

continue in operational existence for the foreseeable future. As the company was technically insolvent at the year

end, the going concern basis is dependant upon the continued support of the directors of the company, who have

indicated that amounts due to them will not be withdrawn.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sale of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount in connection with the acquisition of the business is being amortised evenly over its

estimated useful life of 20 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2013

and 31 January 2014

50,000

AMORTISATION

At 1 February 2013

30,000

Amortisation for year

2,500

At 31 January 2014

32,500

NET BOOK VALUE

At 31 January 2014

17,500

At 31 January 2013

20,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 February 2013

308,305

Additions

523

At 31 January 2014

308,828

DEPRECIATION

At 1 February 2013

82,246

Charge for year

4,983

At 31 January 2014

87,229

NET BOOK VALUE

At 31 January 2014

221,599

At 31 January 2013

226,059

4.

CREDITORS

Creditors include an amount of £ 181,107 (2013 - £ 175,936 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

100,854

98,963

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

3

Ordinary

£1

3

3