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| Chigwell ( LONDON) Limited |
For the year ended 31 March 2014
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03222384
2
Chigwell ( LONDON) Limited
For the year ended 31 March 2014
1
Accountant's Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
Chigwell ( LONDON) Limited
Accountant's Report
For the year ended 31 March 2014
| As described on the balance sheet you are responsible for the preparation of the financial statements for the year |
| ended 31 March 2014 and you consider that the company is exempt from an audit under the Companies Act 2006. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you |
| to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Brian G Lonis and Co
12E Manor Road
London
N16 5SA
1 of 4
4
| Abbreviated Balance Sheet |
Chigwell ( LONDON) Limited
2014
2013
2
925,242
1,017,094
925,242
1,017,094
250,622
1,030,335
1,551,937
2,136,713
29,954
139,739
3,197,002
1,942,298
| Creditors: amounts falling due within one year |
3
(1,252,244)
(2,826,050)
690,054
370,952
Net current assets
| Total assets less current liabilities |
1,296,194
1,707,148
| Creditors: amounts falling due after more than one year |
4
(1,075,631)
(370,164)
926,030
Net assets
631,517
50,000
5
50,000
876,030
581,517
926,030
631,517
Shareholders funds
| For the year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Director 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 director acknowledges his responsibilities for complying with the requirements of the Act 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. |
| Date approved by the board: 16 December 2014 |
| Dean Anthony Floyd Esq. Director |
| Signed on behalf of the board of directors |
2 of 4
5
| Notes to the Abbreviated Financial Statements |
Chigwell ( LONDON) Limited
For the year ended 31 March 2014
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
| 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.
| Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted. |
| Page 2Tangible 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
Leasehold anComputer Equipment
Motor Vehicles
| The company's freehold properties were professionally valued in . This valuation has been reduced by subsequent |
| depreciation. Under the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective April |
| 2008) the properties continue to be stated at that valuation less accumulated depreciation to date and that valuation |
| has not been updated. |
| The company's freehold properties are revalued in full every five years. Interim valuations are carried out when it is |
| likely that there has been a material change in value. |
| No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected |
| useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation |
| would be immaterial. The directors undertake an annual impairment review of these properties. |
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
| rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
| and depreciated over the shorter of the lease term and their estimated expected useful lives. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
| 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. |
3 of 4
6
| Notes to the Abbreviated Financial Statements |
Chigwell ( LONDON) Limited
For the year ended 31 March 2014
1,320,074
589,225
(600,000)
1,309,299
302,980
81,077
Charge for year
384,057
925,242
1,017,094
2014
| 3 Creditors: amounts falling due within one year |
2013
269,746
76,165
Bank loans and overdrafts (secured)
2013
2014
| 4 Creditors due after more than one year |
353,400
1,002,989
Bank loans and overdrafts (secured)
| Allotted called up and fully paid |
2014
2013
| 50,000 Class A shares of £1.00 each |
50,000
50,000
50,000
50,000
4 of 4
