Clwyd Steel Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 07483615 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2014

FOR

CLWYD STEEL LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R O Jones

Mrs K A Jones

SECRETARY:

REGISTERED OFFICE:

Rhosddu Industrial Estate

Rhosddu

Wrexham

LL11 4YL

REGISTERED NUMBER:

07483615 (England and Wales)

ACCOUNTANTS:

Guy Walmsley Limited

Chartered Accountants

3 Grove Road

Wrexham

LL11 1DY

FIXED ASSETS

Tangible assets

2

80,240

31,442

CURRENT ASSETS

Stocks

59,812

51,028

Debtors

80,580

35,616

Cash at bank

33,401

4,956

173,793

91,600

CREDITORS

Amounts falling due within one year

182,839

91,951

NET CURRENT LIABILITIES

(9,046

)

(351

)

TOTAL ASSETS LESS CURRENT LIABILITIES

71,194

31,091

CREDITORS

Amounts falling due after more than one year

(17,233

)

(8,197

)

PROVISIONS FOR LIABILITIES

(13,398

)

(5,968

)

NET ASSETS

40,563

16,926

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

40,561

16,924

SHAREHOLDERS' FUNDS

40,563

16,926

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 28 October 2014 and were signed on its behalf by:

R O Jones - 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 April 2008).

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.

Improvements to property

-

4% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% 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.

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 February 2013

39,720

Additions

72,575

At 31 January 2014

112,295

DEPRECIATION

At 1 February 2013

8,278

Charge for year

23,777

At 31 January 2014

32,055

NET BOOK VALUE

At 31 January 2014

80,240

At 31 January 2013

31,442

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.14

31.1.13

value:

£

£

2

Ordinary

1

2

2