Paul Cornforth Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04653671 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014

FOR

PAUL CORNFORTH LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P J Cornforth

SECRETARY:

K Cornforth

REGISTERED OFFICE:

King Kong Climbing Walls

Threlkeld Quarry

Threlkeld

Keswick

Cumbria

CA12 4TT

REGISTERED NUMBER:

04653671 (England and Wales)

ACCOUNTANTS:

Tattersall Bailey

Chartered Accountants

14A Main Street

Cockermouth

Cumbria

CA13 9LQ

FIXED ASSETS

Intangible assets

2

8,975

11,950

Tangible assets

3

37,163

63,887

46,138

75,837

CURRENT ASSETS

Stocks

2,100

1,425

Debtors

154,243

106,970

Cash at bank

45,626

11,988

201,969

120,383

CREDITORS

Amounts falling due within one year

134,896

65,979

NET CURRENT ASSETS

67,073

54,404

TOTAL ASSETS LESS CURRENT LIABILITIES

113,211

130,241

PROVISIONS FOR LIABILITIES

2,577

7,303

NET ASSETS

110,634

122,938

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

110,534

122,838

SHAREHOLDERS' FUNDS

110,634

122,938

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 16 October 2014 and were signed by:

P J Cornforth - Director

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 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 2004, is being amortised evenly over its estimated useful life of twenty 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

-

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.

Deferred tax

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

sheet date.

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 April 2013

and 31 March 2014

37,250

AMORTISATION

At 1 April 2013

25,300

Amortisation for year

2,975

At 31 March 2014

28,275

NET BOOK VALUE

At 31 March 2014

8,975

At 31 March 2013

11,950

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

166,524

Additions

8,225

At 31 March 2014

174,749

DEPRECIATION

At 1 April 2013

102,637

Charge for year

34,949

At 31 March 2014

137,586

NET BOOK VALUE

At 31 March 2014

37,163

At 31 March 2013

63,887

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

100

Ordinary

£1

100

100