Codfather's (Saltash) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07144344 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 28 February 2014

for

Codfather's (Saltash) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

T L Pratt

W F Linford

SECRETARY:

W F Linford

REGISTERED OFFICE:

28 Fore Street

Saltash

Cornwall

PL12 6JL

REGISTERED NUMBER:

07144344 (England and Wales)

ACCOUNTANTS:

Prydis Accounts Limited

Chartered Accountants

The Parade

Liskeard

Cornwall

PL14 6AF

FIXED ASSETS

Intangible assets

2

17,977

21,572

Tangible assets

3

385,432

59,811

403,409

81,383

CURRENT ASSETS

Stocks

1,500

1,500

Debtors

1,104

3,171

Cash at bank and in hand

13,993

4,754

16,597

9,425

CREDITORS

Amounts falling due within one year

192,196

86,440

NET CURRENT LIABILITIES

(175,599

)

(77,015

)

TOTAL ASSETS LESS CURRENT LIABILITIES

227,810

4,368

CREDITORS

Amounts falling due after more than one year

4

(217,820

)

-

PROVISIONS FOR LIABILITIES

(2,762

)

(3,309

)

NET ASSETS

7,228

1,059

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

7,128

959

SHAREHOLDERS' FUNDS

7,228

1,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2014 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 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 28 October 2014 and were signed on its behalf by:

T L Pratt - Director

W F Linford - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors have assessed going concern and there are no material uncertainties which may cast significant

doubt about the company's ability to continue. As a result the financial statements have been prepared using the

going concern basis of accounting.

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 April 2008).

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 2010, is being amortised evenly over its estimated useful life of nine years.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2013

and 28 February 2014

32,358

AMORTISATION

At 1 March 2013

10,786

Amortisation for year

3,595

At 28 February 2014

14,381

NET BOOK VALUE

At 28 February 2014

17,977

At 28 February 2013

21,572

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2013

96,764

Additions

356,436

Disposals

(20,932

)

At 28 February 2014

432,268

DEPRECIATION

At 1 March 2013

36,953

Charge for year

9,883

At 28 February 2014

46,836

NET BOOK VALUE

At 28 February 2014

385,432

At 28 February 2013

59,811

4.

CREDITORS

Creditors include an amount of £ 217,820 for which security has been given.

They also include the following debts falling due in more than five years:

28.2.14

28.2.13

£

£

Repayable by instalments

217,820

-

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.14

28.2.13

value:

£

£

50

Ordinary class A

£1

50

50

50

Ordinary class B

£1

50

50

100

100

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors who own 100% of the share capital.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Codfather's (Saltash) Limited for the year ended 28 February 2014 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to

its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Codfather's (Saltash) Limited, as a body, in accordance with our

terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Codfather's (Saltash) Limited and state those matters that we have agreed to state to the Board of Directors of

Codfather's (Saltash) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at

icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other

than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Codfather's (Saltash) Limited has kept adequate accounting records and to prepare

statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of

Codfather's (Saltash) Limited. You consider that Codfather's (Saltash) 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 financial statements of Codfather's (Saltash)

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 financial

statements.

Prydis Accounts Limited

Chartered Accountants

The Parade

Liskeard

Cornwall

PL14 6AF

Date: October 2014