Abbreviated Company Accounts - CHALK BOARD LIMITED

CHALK BOARD LIMITED - Company Information

Registered Number 03501557

CHALK BOARD LIMITED

Abbreviated Accounts

31 May 2016

CHALK BOARD LIMITED Registered Number 03501557

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	1,098,188	1,098,339
		1,098,188	1,098,339
Current assets
Debtors		1,457	1,263
Cash at bank and in hand		45,236	37,134
		46,693	38,397
Creditors: amounts falling due within one year		(108,001)	(110,356)
Net current assets (liabilities)		(61,308)	(71,959)
Total assets less current liabilities		1,036,880	1,026,380
Creditors: amounts falling due after more than one year		(1,021,814)	(1,021,814)
Total net assets (liabilities)		15,066	4,566
Capital and reserves
Called up share capital		2	2
Profit and loss account		15,064	4,564
Shareholders' funds		15,066	4,566

For the year ending 31 May 2016 the company was entitled to exemption 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.

Approved by the Board on 20 February 2017

And signed on their behalf by:
Ruth Allcock, Director

CHALK BOARD LIMITED Registered Number 03501557

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant & machinery 25% reducing balance
Fixtures & fittings 25% reducing balance
No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be immaterial. The directors undertake an annual impairment review of these properties.

2Tangible fixed assets

	£
Cost
At 1 June 2015	1,105,466
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2016	1,105,466
Depreciation
At 1 June 2015	7,127
Charge for the year	151
On disposals	-
At 31 May 2016	7,278
Net book values
At 31 May 2016	1,098,188
At 31 May 2015	1,098,339