CHROMEMATE_LIMITED - Accounts

CHROMEMATE_LIMITED - Accounts

CHROMEMATE LIMITED - Company Information

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Company Registration No. 03086737 (England and Wales)
CHROMEMATE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2015
CHROMEMATE LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
CHROMEMATE LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CHROMEMATE LIMITED FOR THE PERIOD ENDED 31 DECEMBER 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chromemate Limited for the period ended 31 December 2015 set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Chromemate Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Chromemate Limited and state those matters that we have agreed to state to the Board of Directors of Chromemate Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chromemate Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Chromemate Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Chromemate Limited. You consider that Chromemate Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Chromemate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Morris & Co
20 January 2017
Chartered Accountants
Chester House
Lloyd Drive
Cheshire Oaks Business Park
Ellesmere Port
Cheshire
England
CH65 9HQ
CHROMEMATE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
2015
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
195,957
210,360
Current assets
Debtors
74,287
66,724
Cash at bank and in hand
1,624
2,036
75,911
68,760
Creditors: amounts falling due within one year
(108,564)
(106,779)
Net current liabilities
(32,653)
(38,019)
Total assets less current liabilities
163,304
172,341
Creditors: amounts falling due after more than one year
3
(1,523,853)
(1,190,325)
(1,360,549)
(1,017,984)
Capital and reserves
Called up share capital
4
2
2
Profit and loss account
(1,360,551)
(1,017,986)
Shareholders'  funds
(1,360,549)
(1,017,984)
CHROMEMATE LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 3 -
For the financial period ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 20 January 2017
Mr J B Hamilton
Director
Company Registration No. 03086737
CHROMEMATE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 DECEMBER 2015
- 4 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). The accounts have also been prepared on the assumption that the company is able to carry on in business as a going concern, which the director considers appropriate as he believes that his continued support and that of Rose Investments Limited will continue to be forthcoming.

 

The accounts have also been prepared on the assumption that the company is able to carry on in business as a going concern, which the director considers appropriate as he believes that his continued support and that of Rose Investments Limited will continue to be forthcoming.

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover

Turnover represents trading receipts and subsidies excluding value added tax. Single payment scheme claimants are required to have land used to match their entitlements at their disposal on one day (which for the UK, has been set as 15 May) in each scheme year, in addition such land must also be eligible for the entire calendar year. The company adopts the policy that the single payment scheme income is not recognised until the 31st December of the year in question, i.e. until the eligibility criteria relating to land has been met.trading receipts and subsidies excluding value added tax.

 

Single payment scheme claimants are required to have land used to match their entitlements at their disposal on one day (which for the UK, has been set as 15 May) in each scheme year, in addition such land must also be eligible for the entire calendar year.

 

The company adopts the policy that the single payment scheme income is not recognised until the 31st December of the year in question, i.e. until the eligibility criteria relating to land has been met.

 

1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Leasehold land & building improvements
10% & 5% on cost
Plant and machinery
15% reducing balance
Motor vehicles
25% reducing balance
CHROMEMATE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2015
- 5 -
2
Fixed assets
Tangible assets
£
Cost
At 30 January 2015
1,126,865
Additions
356,000
At 31 December 2015
1,482,865
Depreciation
At 30 January 2015
916,505
Charge for the period
370,403
At 31 December 2015
1,286,908
Net book value
At 31 December 2015
195,957
At 29 January 2015
210,360
3
Creditors: amounts falling due after more than one year
2015
2015
£
£
Analysis of loans repayable in more than five years
Total not repayable by instalments and due in more than five years
1,523,853
1,190,325
4
Share capital
2015
2015
£
£
Allotted, called up and fully paid
2 Ordinary of £1 each
2
2
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