Cambridge Wood Fuel Limited - Period Ending 2016-08-31

Registration number: 07744318

Cambridge Wood Fuel Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Cambridge Wood Fuel Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Cambridge Wood Fuel Limited
(Registration number: 07744318)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					63,804			50,319
Current assets
Debtors					1,177			5,221
Cash at bank and in hand					2,676			5,311
					3,853			10,532
Creditors: Amounts falling due within one year					(65,257)			(63,569)
Net current liabilities					(61,404)			(53,037)
Total assets less current liabilities					2,400			(2,718)
Creditors: Amounts falling due after more than one year					(13,199)			-
Net liabilities					(10,799)			(2,718)
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					(11,799)			(3,718)
Shareholders' deficit					(10,799)			(2,718)

For the year ending 31 August 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 directors acknowledge their 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 Board on 23 May 2017 and signed on its behalf by:

.........................................
Ms C L Slack
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Cambridge Wood Fuel Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 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).

Going concern

The financial statements have been prepared on a going concern basis. The directors agree to give continued financial support to the company to allow trading to continue for 12 months from the date the balance sheet is signed.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Plant and machinery	4-25% straight line
Office equipment	33.33% straight line
Motor vehicles	20% reducing balance

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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.

Page 2

Cambridge Wood Fuel Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		61,432			61,432
Additions		20,781			20,781
At 31 August 2016		82,213			82,213
Depreciation
At 1 September 2015		11,113			11,113
Charge for the year		7,296			7,296
At 31 August 2016		18,409			18,409
Net book value
At 31 August 2016		63,804			63,804
At 31 August 2015		50,319			50,319

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

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