Catherine Carter Limited - Period Ending 2016-06-30

Registration number: 05007068

Catherine Carter Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

TEAM Accountancy Solutions Limited
Endurance House
Colmet Court
Team Valley Trading Estate
Gateshead
Tyne & Wear
NE11 0EF

Catherine Carter Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Catherine Carter Limited
for the Year Ended 30 June 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Catherine Carter Limited for the year ended 30 June 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants (CIMA) , we are subject to its ethical and other professional requirements which are detailed on their website at www.cimaglobal.com/ members/members-handbook.

This report is made solely to the Board of Directors of Catherine Carter Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Catherine Carter Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Catherine Carter Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Catherine Carter Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Catherine Carter Limited. You consider that Catherine Carter Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Catherine Carter Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

TEAM Accountancy Solutions Limited
Endurance House
Colmet Court
Team Valley Trading Estate
Gateshead
Tyne & Wear
NE11 0EF

30 March 2017

Page 1

Catherine Carter Limited
(Registration number: 05007068)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					8,785			11,211
Current assets
Stocks					2,461			2,416
Debtors					3,151			-
Cash at bank and in hand					11			1
					5,623			2,417
Creditors: Amounts falling due within one year					(11,427)			(11,687)
Net current liabilities					(5,804)			(9,270)
Total assets less current liabilities					2,981			1,941
Provisions for liabilities					-			(1,021)
Net assets					2,981			920
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					2,881			820
Shareholders' funds					2,981			920

For the year ending 30 June 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 director acknowledges her 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 director on 30 March 2017

.........................................
Mrs C Carter
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Catherine Carter Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years straight line

Depreciation

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:

Asset class	Depreciation method and rate
Leasehold Property	10% straight line
Fixtures and fittings	25% reducing balance
Equipment	33% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

Catherine Carter Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2015		15,000			49,571			64,571
At 30 June 2016		15,000			49,571			64,571
Depreciation
At 1 July 2015		15,000			38,360			53,360
Charge for the year		-			2,426			2,426
At 30 June 2016		15,000			40,786			55,786
Net book value
At 30 June 2016		-			8,785			8,785
At 30 June 2015		-			11,211			11,211

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 4

Catherine Carter Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

4	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mrs C Carter
Directors loan account	38,602	32,514	21,208	24,144

Page 5