Crediton Designs Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05042196 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

Crediton Designs Ltd

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

859

1,145

CURRENT ASSETS

Debtors

8,345

7,335

Cash at bank

608

141

8,953

7,476

CREDITORS

Amounts falling due within one year

9,562

8,367

NET CURRENT LIABILITIES

(609

)

(891

)

TOTAL ASSETS LESS CURRENT LIABILITIES

250

254

PROVISIONS FOR LIABILITIES

172

229

NET ASSETS

78

25

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

76

23

SHAREHOLDERS' FUNDS

78

25

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 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 Board of Directors on 19 December 2014 and were signed on its behalf by:

Mr S L Brown - Director

Mrs M Brown - Director

1.	ACCOUNTING POLICIES

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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

20% - 50% on reducing balance

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

13,716

DEPRECIATION

At 1 April 2013

12,571

Charge for year

286

At 31 March 2014

12,857

NET BOOK VALUE

At 31 March 2014

859

At 31 March 2013

1,145

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end and included within other debtors is an amount due from the directors, Mr S L Brown and

Mrs M Brown amounting to £6,676 (2013 - £5,868).

This loan has no fixed repayment date and was charged interest at a commercial rate. The maximum amount

outstanding during the year was £6,676.