Christopher Butterworth Antiques Limited - Period Ending 2016-04-30

Registration number: 04735902

Christopher Butterworth Antiques Limited

trading as Christopher Butterworth Antiques Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Jani Taylor Associates Limited
Chartered Accountants, Advocates and Business Advisers
Jani Taylor Associates Ltd
Office 6a Popin Business Centre
South Way
Wembley
Middlesex
HA9 0HF

Christopher Butterworth Antiques Limited
trading as Christopher Butterworth Antiques Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 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
Christopher Butterworth Antiques Limited
trading as Christopher Butterworth Antiques Ltd
for the Year Ended 30 April 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Christopher Butterworth Antiques Limited for the year ended 30 April 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Christopher Butterworth Antiques 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 Christopher Butterworth Antiques Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Christopher Butterworth Antiques Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Christopher Butterworth Antiques 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 Christopher Butterworth Antiques Limited. You consider that Christopher Butterworth Antiques 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 Christopher Butterworth Antiques 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.

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

Jani Taylor Associates Limited
Chartered Accountants, Advocates and Business Advisers
Jani Taylor Associates Ltd
Office 6a Popin Business Centre
South Way
Wembley
Middlesex
HA9 0HF

25 May 2017

Page 1

Christopher Butterworth Antiques Limited
trading as Christopher Butterworth Antiques Ltd
(Registration number: 04735902)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					1			1
Tangible fixed assets					987			583
					988			584
Current assets
Stocks					175,650			174,450
Debtors					15,859			26,769
Cash at bank and in hand					1			196
					191,510			201,415
Creditors: Amounts falling due within one year					(73,340)			(44,683)
Net current assets					118,170			156,732
Total assets less current liabilities					119,158			157,316
Creditors: Amounts falling due after more than one year					(20,782)			(36,120)
Net assets					98,376			121,196
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					98,276			121,096
Shareholders' funds					98,376			121,196

For the year ending 30 April 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 his 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 25 May 2017

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Christopher Butterworth Antiques Limited
trading as Christopher Butterworth Antiques Ltd
(Registration number: 04735902)
Abbreviated Balance Sheet at 30 April 2016
......... continued

.........................................
Mr Christopher Butterworth
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Christopher Butterworth Antiques Limited
trading as Christopher Butterworth Antiques Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 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, net of value added tax, 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

The goodwill on incorporation has been fully amortised.

Asset class	Amortisation method and rate
Goodwill	10% on a straight-line basis

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	20% on a straight-line basis
Motor Vehicles	25% on a straight-line basis
Office equipment	25% on a straight-line basis

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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 4

Christopher Butterworth Antiques Limited
trading as Christopher Butterworth Antiques Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 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 May 2015		108,000			15,765			123,765
Additions		-			733			733
Disposals		-			(12,800)			(12,800)
At 30 April 2016		108,000			3,698			111,698
Depreciation
At 1 May 2015		107,999			15,182			123,181
Charge for the year		-			328			328
Eliminated on disposals		-			(12,799)			(12,799)
At 30 April 2016		107,999			2,711			110,710
Net book value
At 30 April 2016		1			987			988
At 30 April 2015		1			583			584

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Share Capital of £1 each		100			100			100			100

Page 5