Cornmeter Limited - Abbreviated accounts 16.3

Cornmeter Limited - Abbreviated accounts 16.3

CORNMETER LIMITED - Company Information

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REGISTERED NUMBER: 09072061 (England and Wales)












CORNMETER LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016






CORNMETER LIMITED (REGISTERED NUMBER: 09072061)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the year ended 30 June 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

CORNMETER LIMITED

COMPANY INFORMATION
for the year ended 30 June 2016







DIRECTORS: J F Taylor
Mrs J M Taylor





REGISTERED OFFICE: Cornmeter House
Church Street
GODALMING
Surrey
GU7 1EL





REGISTERED NUMBER: 09072061 (England and Wales)





ACCOUNTANTS: HPCA Limited
Chartered Accountants
Station House
Connaught Road
Brookwood
Woking
Surrey
GU24 0ER
Page 1
CORNMETER LIMITED (REGISTERED NUMBER: 09072061)

ABBREVIATED BALANCE SHEET
30 June 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 160,000 180,000
Tangible assets 3 14,318 -
174,318 180,000

CURRENT ASSETS
Stocks 44,875 41,530
Debtors 979 1,535
Cash at bank 35,939 27,847
81,793 70,912
CREDITORS
Amounts falling due within one year 255,196 250,442
NET CURRENT LIABILITIES (173,403 ) (179,530 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
915
470

CAPITAL AND RESERVES
Called up share capital 4 2 2
Profit and loss account 913 468
SHAREHOLDERS' FUNDS 915 470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 notes form part of these abbreviated accounts

Page 2 continued...
CORNMETER LIMITED (REGISTERED NUMBER: 09072061)

ABBREVIATED BALANCE SHEET - continued
30 June 2016


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 22 February 2017 and were signed on its behalf
by:




J F Taylor - Director



Mrs J M Taylor - Director


The notes form part of these abbreviated accounts

Page 3
CORNMETER LIMITED (REGISTERED NUMBER: 09072061)

NOTES TO THE ABBREVIATED ACCOUNTS
for the year ended 30 June 2016

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 January 2015).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% on cost
Motor vehicles - 20% 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the profit and loss account in the period to which they relate.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 July 2015
and 30 June 2016 200,000
AMORTISATION
At 1 July 2015 20,000
Amortisation for year 20,000
At 30 June 2016 40,000
NET BOOK VALUE

At 30 June 2016 160,000
At 30 June 2015 180,000

Page 4 continued...
CORNMETER LIMITED (REGISTERED NUMBER: 09072061)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the year ended 30 June 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
Additions 17,898
At 30 June 2016 17,898
DEPRECIATION
Charge for year 3,580
At 30 June 2016 3,580
NET BOOK VALUE
At 30 June 2016 14,318

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
2 Ordinary 1 2 2

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed Mr J Taylor £81,158 (2015: £62, 853) and Mrs J Taylor £81,158 (2015:
£62,853)

Page 5