Cotswold Vale Refrigeration Limited - Accounts

Cotswold Vale Refrigeration Limited - Accounts

COTSWOLD VALE REFRIGERATION LIMITED - Company Information

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Registered Number : 05254801
England and Wales

 

 

 

COTSWOLD VALE REFRIGERATION LIMITED


Abbreviated Accounts

31 October 2016

Cotswold Vale Refrigeration Limited
Contents Page
For the year ended 31 October 2016
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 October 2016.

We have prepared these finance statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.



....................................................
MBS Accountants
Unit 3 Tuffley Park
Lower Tuffley Lane
Gloucester
GL2 5DE
25 July 2017
1
 
 		 Notes
 		 2016
£		   2015
£
Fixed assets      
Tangible fixed assets 3 47,415    45,683 
47,415    45,683 
Current assets      
Stocks 9,844    5,749 
Debtors 161,525    106,269 
Cash at bank and in hand 38,387    45,042 
209,756    157,060 
Creditors: amount falling due within one year (232,374)   (175,764)
Net current assets (22,618)   (18,704)
Total assets less current liabilities 24,797    26,979 
Creditors: amount falling due after more than one year -    (26,335)
Net assets 24,797    644 

Capital and reserves 		     
Called up share capital 4 20,000    20,000 
Profit and loss account 4,797    (19,356)
Shareholders funds 24,797    644 


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

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.
Signed on behalf of the board of directors


--------------------------------
Colin Griffiths
Director

Date approved by the board: 19 July 2017
2
1.

Accounting Policies

Basis of accounting
The financial statements are 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 company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Computer Equipment 25% Reducing Balance
Motor Vehicles 20% Reducing Balance
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
2.

Intangible fixed assets

Cost or Valuation Goodwill   Total
  £   £
At 01 November 2015 90,000    90,000 
Additions -    - 
Disposals -    - 
At 31 October 2016 90,000    90,000 
Amortisation
At 01 November 2015 90,000    90,000 
Charge for year -    - 
On disposals -    - 
At 31 October 2016 90,000    90,000 
Net book values
At 31 October 2016 -    - 
At 31 October 2015 -    - 


3.

Tangible fixed assets

Cost or Valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 November 2015 2,977    81,754    12,517    97,248 
Additions -    24,037    498    24,535 
Disposals -    (16,653)   -    (16,653)
At 31 October 2016 2,977    89,138    13,015    105,130 
Depreciation
At 01 November 2015 2,532    38,043    10,990    51,565 
Charge for year 89    15,182    507    15,778 
On disposals -    (9,628)   -    (9,628)
At 31 October 2016 2,621    43,597    11,497    57,715 
Net book values
At 31 October 2016 356    45,541    1,518    47,415 
At 31 October 2015 445    43,711    1,527    45,683 


4.

Share Capital

Allotted
2016
£		   2015
£
20,000 Class A shares of £1.00 each 20,000    20,000 
20,000    20,000 

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