Contessa Curtains Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 01302828 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 April 2014

for

Contessa Curtains Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr G J Bassett

Mrs D Bassett

Mr D J Burmiston

SECRETARY:

Mrs D Bassett

REGISTERED OFFICE:

243/245

York Road

Hartlepool

TS25 2NJ

REGISTERED NUMBER:

01302828 (England and Wales)

ACCOUNTANTS:

JBC Accountants Limited

Chartered Accountants

Swift House

Falcon Court

Stockton on Tees

TS18 3TX

FIXED ASSETS

Tangible assets

2

72,542

1,071

CURRENT ASSETS

Stocks

57,728

41,085

Debtors

102,045

68,968

Cash at bank and in hand

13,596

1,031

173,369

111,084

CREDITORS

Amounts falling due within one year

265,191

135,203

NET CURRENT LIABILITIES

(91,822

)

(24,119

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(19,280

)

(23,048

)

CREDITORS

Amounts falling due after more than one year

32,083

18,000

NET LIABILITIES

(51,363

)

(41,048

)

CAPITAL AND RESERVES

Called up share capital

3

2,250

2,250

Share premium

4,194

4,194

Profit and loss account

(57,807

)

(47,492

)

SHAREHOLDERS' FUNDS

(51,363

)

(41,048

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 24 October 2014 and were signed on its behalf by:

Mr D J Burmiston - 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).

Going concern

Although there is a balance sheet deficit at the year-end, the Directors confirm that they will continue to support the

company financially for a minimum period of 12 months from the approval of the financial statements.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

30% on reducing balance, 25% on reducing balance and 20% on reducing balance

Stocks

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

obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

76,813

Additions

90,716

Disposals

(11,348

)

At 30 April 2014

156,181

DEPRECIATION

At 1 May 2013

75,742

Charge for year

19,245

Eliminated on disposal

(11,348

)

At 30 April 2014

83,639

NET BOOK VALUE

At 30 April 2014

72,542

At 30 April 2013

1,071

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2,250

Ordinary

£1

2,250

2,250

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2014 and 30 April 2013:

2014

2013

£

£

Mr G J Bassett

Balance outstanding at start of year

205

205

Amounts repaid

(205

)

-

Balance outstanding at end of year

-

205