Abbreviated Company Accounts - CHALLENGE FORGE LIMITED

Abbreviated Company Accounts - CHALLENGE FORGE LIMITED

CHALLENGE FORGE LIMITED - Company Information

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Registered Number 04911029

CHALLENGE FORGE LIMITED

Abbreviated Accounts

30 September 2016

CHALLENGE FORGE LIMITED Registered Number 04911029

Abbreviated Balance Sheet as at 30 September 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 153,148 148,917
153,148 148,917
Current assets
Stocks 10,000 10,500
Debtors 65,217 55,200
Cash at bank and in hand 57,664 57,608
132,881 123,308
Creditors: amounts falling due within one year (83,183) (77,714)
Net current assets (liabilities) 49,698 45,594
Total assets less current liabilities 202,846 194,511
Creditors: amounts falling due after more than one year (32,915) (37,637)
Provisions for liabilities (12,075) (9,688)
Total net assets (liabilities) 157,856 147,186
Capital and reserves
Called up share capital 200 200
Profit and loss account 157,656 146,986
Shareholders' funds 157,856 147,186
  • For the year ending 30 September 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 2 March 2017

And signed on their behalf by:
C Bates, Director
M Bates, Director

CHALLENGE FORGE LIMITED Registered Number 04911029

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

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

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Freehold Property 2% p.a. on Straight line basis
Plant & Equipment 25-33% p.a. on Reducing balance basis
Motor Vehicles 25% p.a. on Reducing balance basis

2Tangible fixed assets
£
Cost
At 1 October 2015 231,280
Additions 28,961
Disposals (19,995)
Revaluations -
Transfers -
At 30 September 2016 240,246
Depreciation
At 1 October 2015 82,363
Charge for the year 16,060
On disposals (11,325)
At 30 September 2016 87,098
Net book values
At 30 September 2016 153,148
At 30 September 2015 148,917