CEM-SPEC_LIMITED - Accounts

CEM-SPEC LIMITED - Company Information

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Company Registration No. 00879725 (England and Wales)

CEM-SPEC LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

CEM-SPEC LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

CEM-SPEC LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

105,904

79,035

Investments

90,000

70,000

195,904

149,035

Current assets

Stocks

123,565

113,665

Debtors

172,525

152,648

Cash at bank and in hand

160,939

176,421

457,029

442,734

Creditors: amounts falling due within one year

(177,041)

(124,107)

Net current assets

279,988

318,627

Total assets less current liabilities

475,892

467,662

Provisions for liabilities

(18,493)

(11,457)

457,399

456,205

Capital and reserves

Called up share capital

81,000

Other reserves

19,000

Profit and loss account

357,399

356,205

Shareholders' funds

457,399

456,205

CEM-SPEC LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JULY 2016

- 2 -

For the financial year ended 31 July 2016 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 year 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 16 September 2016

Mr P W Harker

Director

Company Registration No. 00879725

CEM-SPEC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

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).

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 amounts receivable for goods and services net of VAT and trade discounts.

1.4

Trademark

Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Property improvements

10% on cost

Plant and machinery

25% reducing balance

Office equipment

33% on cost

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.9

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

CEM-SPEC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Investments

Total

Cost

At 1 August 2015

2,737

472,333

70,000

545,070

Additions

64,000

20,000

84,000

At 31 July 2016

2,737

536,333

90,000

629,070

Depreciation

At 1 August 2015

2,737

393,298

396,035

Charge for the year

37,131

At 31 July 2016

2,737

430,429

433,166

Net book value

At 31 July 2016

105,904

90,000

195,904

At 31 July 2015

79,035

70,000

149,035

Investments are stated at cost as 31 July 2016 and 31 July 2015. The market value of investments as at 31 July 2016 was £124,147 (2015 £95,501).

Share capital

2016

2015

Allotted, called up and fully paid

78,000 Ordinary A of £1 each

78,000

1,000 Ordinary B of £1 each

1,000

1,000 Ordinary C of £1 each

1,000

81,000