Chiltern Circuits Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01577113

Unaudited Financial Statements for the Year Ended 31 July 2017

for

Chiltern Circuits Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S M Dear

Mrs V L Dear

SECRETARY:

Mrs V L Dear

REGISTERED OFFICE:

51 Poppy Road

Princes Risborough

Buckinghamshire

HP27 9DB

REGISTERED NUMBER:

01577113

ACCOUNTANTS:

Main Street Accountancy Limited

16a Main Ridge West

Boston

Lincolnshire

PE21 6QQ

FIXED ASSETS

Tangible assets

3

17,171

17,363

CURRENT ASSETS

Stocks

2,500

2,500

Debtors

4

37,107

43,045

Cash at bank

47,324

120,296

86,931

165,841

CREDITORS

Amounts falling due within one year

5

48,174

124,249

NET CURRENT ASSETS

38,757

41,592

TOTAL ASSETS LESS CURRENT LIABILITIES

55,928

58,955

PROVISIONS FOR LIABILITIES

3,473

3,473

NET ASSETS

52,455

55,482

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

52,355

55,382

SHAREHOLDERS' FUNDS

52,455

55,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 April 2018 and were signed on its behalf by:

S M Dear - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2016 - 7 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

and 31 July 2017

90,755

DEPRECIATION

At 1 August 2016

73,392

Charge for year

192

At 31 July 2017

73,584

NET BOOK VALUE

At 31 July 2017

17,171

At 31 July 2016

17,363

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

35,360

41,298

Other debtors

1,747

1,747

37,107

43,045

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade creditors

21,240

19,549

Taxation and social security

11,244

14,324

Other creditors

15,690

90,376

48,174

124,249