CAMOLIN_DESIGNS_LIMITED - Accounts

CAMOLIN DESIGNS LIMITED - Company Information

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Company Registration No. 03220136 (England and Wales)

CAMOLIN DESIGNS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

CAMOLIN DESIGNS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CAMOLIN DESIGNS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

17,681

Tangible assets

17,695

17,698

Current assets

Stocks

11,478

11,565

Debtors

339

321

Cash at bank and in hand

851

2,015

12,668

13,901

Creditors: amounts falling due within one year

(18,574)

(17,928)

Net current liabilities

(5,906)

(4,027)

Total assets less current liabilities

11,789

13,671

Capital and reserves

Called up share capital

35,000

Profit and loss account

(23,211)

(21,329)

Shareholders' funds

11,789

13,671

For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 13 May 2017

Mr K M Morgan

Mr K P Doherty

Director

Company Registration No. 03220136

CAMOLIN DESIGNS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Patents

Patents and trade marks are valued at cost. Their estimated useful lives are assumed to be indefinite.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% on reducing balance

1.5

Stock and work in progress

Stock is valued at the lower of cost and net realisable value.

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 September 2015 & at 31 August 2016

17,681

2,185

19,866

Depreciation

At 1 September 2015

2,168

Charge for the year

At 31 August 2016

2,171

Net book value

At 31 August 2016

17,681

17,695

At 31 August 2015

17,681

17,698

Share capital

2016

2015

Allotted, called up and fully paid

35,000 Ordinary of £1 each

35,000

Related party relationships and transactions

CAMOLIN DESIGNS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

Related party relationships and transactions

(Continued)

- 3 -

Directors' advances, credits and guarantees

At the balance sheet date there was £4,033 due to K P Doherty and £14,048 due to K M Morgan in respect of interest free loans repayable on demand.