Abbreviated Company Accounts - CANNON STAR LIMITED

Abbreviated Company Accounts - CANNON STAR LIMITED

CANNON STAR LIMITED - Company Information

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Registered Number 06514988

CANNON STAR LIMITED

Abbreviated Accounts

31 March 2014

CANNON STAR LIMITED Registered Number 06514988

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Current assets
Stocks 656,666 649,948
Debtors 200 498
Investments 268,731 268,731
Cash at bank and in hand 5,747 22,320
931,344 941,497
Creditors: amounts falling due within one year (1,040,926) (1,023,148)
Net current assets (liabilities) (109,582) (81,651)
Total assets less current liabilities (109,582) (81,651)
Total net assets (liabilities) (109,582) (81,651)
Capital and reserves
Called up share capital 2 2
Profit and loss account (109,584) (81,653)
Shareholders' funds (109,582) (81,651)
  • 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 directors acknowledge their 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 Board on 24 December 2014

And signed on their behalf by:
T M Glover, Director
K Harrison, Director

CANNON STAR LIMITED Registered Number 06514988

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during
the year, exclusive of Value Added Tax.

Other accounting policies
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due
allowance for obsolete and slow moving items.
Going concern
The accounts are produced on the going concern basis. The directors and shareholders
believe that this is applicable as the company is able to meet all its day to day working
capital requirements using loans and bank guarantees provided by the shareholders.
The shareholders have confirmed that they will not seek repayment of these loans until
the company has become profitable and has the reserves to repay the loans.