Coyte Furnishings Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01124554 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2014

for

Coyte Furnishings Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D N Gibbs

D A Gibbs

SECRETARY:

Mrs B M Gibbs

REGISTERED OFFICE:

11 & 12 Tutbury Road

Burton on Trent

Staffordshire

DE13 0NU

REGISTERED NUMBER:

01124554 (England and Wales)

ACCOUNTANTS:

Buckler Spencer Limited

Chartered Accountants

Old Police Station

Church Street

Swadlincote

DE11 8LN

FIXED ASSETS

Tangible assets

2

354,942

373,358

CURRENT ASSETS

Stocks

274,926

246,608

Debtors

17,533

22,656

Cash at bank

20,256

38,792

312,715

308,056

CREDITORS

Amounts falling due within one year

358,876

371,900

NET CURRENT LIABILITIES

(46,161

)

(63,844

)

TOTAL ASSETS LESS CURRENT LIABILITIES

308,781

309,514

CREDITORS

Amounts falling due after more than one year

3

(113,935

)

(131,644

)

PROVISIONS FOR LIABILITIES

(1,200

)

(1,700

)

NET ASSETS

193,646

176,170

CAPITAL AND RESERVES

Called up share capital

4

50

50

Capital redemption reserve

50

50

Profit and loss account

193,546

176,070

SHAREHOLDERS' FUNDS

193,646

176,170

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 11 December 2014 and were signed on its behalf by:

D A Gibbs - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% on cost and at varying rates on cost

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Stocks

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

moving items.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

and 31 August 2014

676,378

DEPRECIATION

At 1 September 2013

303,020

Charge for year

18,416

At 31 August 2014

321,436

NET BOOK VALUE

At 31 August 2014

354,942

At 31 August 2013

373,358

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

31.8.14

31.8.13

£

£

Repayable by instalments

52,035

67,130

4.	CALLED UP SHARE CAPITAL

Authorised:

Number:

Class:

Nominal

31.8.13

31.8.12

value

£

£

20

'A' Ordinary

£1

20

20

20

'B' Ordinary

£1

20

20

8

'C' Ordinary

£1

8

8

2

'D' Ordinary

£1

2

2

50

50

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.13

31.8.12

value:

£

£

20

'A' Ordinary

£1

20

20

20

'B' Ordinary

£1

20

20

8

'C' Ordinary

£1

8

8

2

'D' Ordinary

£1

2

2

50

50

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company paid rent to one of its directors, Mr D N Gibbs, amounting to £20,000 (year ending

31st August 2013 - £20,000) and rent to Mrs B M Gibbs, the wife of Mr D N Gibbs, amounting to £20,000 (year

ending 31st August 2013 - £20,000).

During the year the company paid loan interest to one of its directors, Mr D N Gibbs, amounting to £7,000 (year

ending 31st August 2013 - nil) and loan interest to Mrs B M Gibbs, the wife of Mr D N Gibbs, amounting to

£7,000 (year ending 31st August 2013 - nil).