Contrak Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05355171 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 November 2016

for

Contrak Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P J Cookson

SECRETARY:

Miss V C Hewitt

REGISTERED OFFICE:

The Glades

Festival Way

Stoke on Trent

Staffordshire

ST1 5SQ

REGISTERED NUMBER:

05355171 (England and Wales)

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

277,239

190,949

277,239

190,949

CURRENT ASSETS

Stocks

43,686

60,207

Debtors

73,564

61,148

Cash at bank

9,695

17,316

126,945

138,671

CREDITORS

Amounts falling due within one year

4

385,324

228,956

NET CURRENT LIABILITIES

(258,379

)

(90,285

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

18,860

100,664

CREDITORS

Amounts falling due after more than
one year

4

(176,534

)

(155,747

)

PROVISIONS FOR LIABILITIES

-

(5,000

)

NET LIABILITIES

(157,674

)

(60,083

)

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

(157,774

)

(60,183

)

SHAREHOLDERS' FUNDS

(157,674

)

(60,083

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 7 March 2017 and were signed by:

P J Cookson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the assumption that the company is able to carry

on business as a going concern, which the director consider appropriate having regard to the

company's current and expected performance.

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to

consideration.

Turnover from the supply of services represents the value of services provided under contracts, to

the extent that there is a right to consideration, and is recorded at the value of the consideration

due. Where a contract has only been partially completed at the balance sheet date turnover

represents the value of the service provided to date based on a proportion of the total contract

value.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

70,000

AMORTISATION

At 1 December 2015

and 30 November 2016

70,000

NET BOOK VALUE

At 30 November 2016

-

At 30 November 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

269,726

Additions

140,486

At 30 November 2016

410,212

DEPRECIATION

At 1 December 2015

78,777

Charge for year

54,196

At 30 November 2016

132,973

NET BOOK VALUE

At 30 November 2016

277,239

At 30 November 2015

190,949

4.

CREDITORS

Creditors include an amount of £ 159,439 (2015 - £ 122,421 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

100 Ordinary shares

£1

100