Cronapress Limited - Period Ending 2014-03-31

Registration number: 02395908

Cronapress Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Cronapress Limited
(Registration number: 02395908)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					-			70,000
Tangible fixed assets					24,772			30,541
Investments					113,234			113,234
					138,006			213,775
Current assets
Stocks					168,723			182,723
Debtors					29,983			26,309
Cash at bank and in hand					-			3,000
					198,706			212,032
Creditors: Amounts falling due within one year					(231,813)			(160,439)
Net current (liabilities)/assets					(33,107)			51,593
Total assets less current liabilities					104,899			265,368
Creditors: Amounts falling due after more than one year					(14,772)			(200,336)
Net assets					90,127			65,032
Capital and reserves
Called up share capital		4			122			122
Share premium account					17,000			17,000
Profit and loss account					73,005			47,910
Shareholders' funds					90,127			65,032

For the year ending 31 March 2014 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 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 .

Approved by the director on 23 December 2014

Mr C M Butler
Director

Cronapress Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	fully amortised

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Long term leasehold land and buildings	20% straight line
Plant and machinery	20% reducing balance
Motor vehicles	25% reducing balance
Fixtures and fittings	15% reducing balance

Research and development

Research and development expenditure is written off as incurred.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Cronapress Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 April 2013		139,506			185,540			113,234			438,280
Disposals		(70,000)			-			-			(70,000)
At 31 March 2014		69,506			185,540			113,234			368,280
Depreciation
At 1 April 2013		69,506			154,999			-			224,505
Charge for the year		-			5,769			-			5,769
At 31 March 2014		69,506			160,768			-			230,274
Net book value
At 31 March 2014		-			24,772			113,234			138,006
At 31 March 2013		70,000			30,541			113,234			213,775

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2014 £			2013 £
After more than five years by instalments		-			30,393

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
'A' Ordinary of £1 each		100			100			100			100
'B' Ordinary of £0.01 each		230			2			230			2
'C' Ordinary non voting shares of £0.01 each		2,000			20			2,000			20
'D' Ordinary non voting shares of £1 each		17,000			17,000			17,000			17,000
		19,330			17,122			19,330			17,122