Carr Taylor Wines Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04028905

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

FOR

CARR TAYLOR WINES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D R T Carr-Taylor

Mrs L R Carr-Taylor

SECRETARY:

D R T Carr-Taylor

REGISTERED OFFICE:

Carr-Taylor Vineyards

Wheel Lane

Westfield

East Sussex

TN35 4SG

REGISTERED NUMBER:

04028905

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

2

143,776

153,245

CURRENT ASSETS

Stocks

386,678

309,930

Debtors

50,457

239,070

Cash at bank

3,419

5,279

440,554

554,279

CREDITORS

Amounts falling due within one year

(476,685

)

(611,087

)

NET CURRENT LIABILITIES

(36,131

)

(56,808

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

107,645

96,437

CAPITAL AND RESERVES

Called up share capital

3

150

Profit and loss account

107,495

96,287

SHAREHOLDERS' FUNDS

107,645

96,437

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 26 January 2017 and were signed on its behalf by:

D R T Carr-Taylor - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention.

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.

Freehold property

-

in accordance with the property

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

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.

Hire purchase and leasing commitments

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 August 2015

and 31 July 2016

244,736

DEPRECIATION

At 1 August 2015

91,491

Charge for year

9,469

At 31 July 2016

100,960

NET BOOK VALUE

At 31 July 2016

143,776

At 31 July 2015

153,245

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

150

Ordinary

£1

150