Accounts filed on 31-01-2017

Accounts filed on 31-01-2017

CRAFTMASTER ENGINEERING ( MIDLANDS) LIMITED - Company Information

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Registered number: 8837138
CRAFTMASTER ENGINEERING (MIDLANDS) LTD
ACCOUNTS
FOR THE YEAR ENDED 31/01/2017
Prepared By:
RAGAVAN AND CO LTD
CHARTERED CERTIFIED ACCOUNTANTS
240 GROVE LANE
HANDSWORTH
BIRMINGHAM
WEST MIDLANDS
B20 2EY
CRAFTMASTER ENGINEERING (MIDLANDS) LTD
ACCOUNTS
FOR THE YEAR ENDED 31/01/2017
DIRECTORS
RICHARD TIPPER
Mrs Sandra Chadwick
REGISTERED OFFICE
240 Grove Lane
Handsworth
Birmingham
West Midlands
B20 2EY
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 8837138
BANKERS
LLOYDS BANK PLC
ACCOUNTANTS
RAGAVAN AND CO LTD
CHARTERED CERTIFIED ACCOUNTANTS
240 GROVE LANE
HANDSWORTH
BIRMINGHAM
WEST MIDLANDS
B20 2EY
CRAFTMASTER ENGINEERING (MIDLANDS) LTD
ACCOUNTS
FOR THEYEARENDED31/01/2017
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
CRAFTMASTER ENGINEERING (MIDLANDS) LTD
BALANCE SHEET AT 31/01/2017
20172016
Notes££
FIXED ASSETS
Tangible assets241,9593,026
CURRENT ASSETS
Stock5,3705,155
Debtors427,29718,468
Cash at bank and in hand11,93614,219
44,60337,842
CREDITORS: Amounts falling due within one year579,69738,963
NET CURRENT LIABILITIES(35,094)(1,121)
TOTAL ASSETS LESS CURRENT LIABILITIES6,8651,905
CAPITAL AND RESERVES
Called up share capital71010
Profit and loss account6,8551,895
SHAREHOLDERS' FUNDS6,8651,905
For the year ending 31/01/2017 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 27/10/2017 and signed on their behalf by
.............................
RICHARD TIPPER
Director
CRAFTMASTER ENGINEERING (MIDLANDS) LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/01/2017
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 18%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
CRAFTMASTER ENGINEERING (MIDLANDS) LTD
2. TANGIBLE FIXED ASSETS
Plant and
MachineryTotal
££
Cost
At 01/02/20164,5004,500
Additions48,14348,143
At 31/01/201752,64352,643
Depreciation
At 01/02/20161,4741,474
For the year9,2109,210
At 31/01/201710,68410,684
Net Book Amounts
At 31/01/201741,95941,959
At 31/01/20163,0263,026
3. STOCK 20172016
££
Stock comprises:
Stock raw materials2,9252,775
Stock of finished goods2,4452,380
5,3705,155
4. DEBTORS 20172016
££
Amounts falling due within one year
Trade debtors27,29718,468
27,29718,468
CRAFTMASTER ENGINEERING (MIDLANDS) LTD
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20172016
££
UK corporation tax-6,787
VAT6,8387,189
PAYE control576212
Directors current account55,74620,962
Trade creditors14,7372,013
Accruals1,8001,800
79,69738,963
6. EMPLOYEES
20172016
No.No.
7. SHARE CAPITAL 20172016
££
Allotted, issued and fully paid:
10 Ordinary shares of £1 each1010
1010