Camdon Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 06980790

Camdon Limited

Filleted unaudited financial statements

31 December 2017

Camdon Limited

Financial statements

Year ended 31 December 2017

Contents	Pages

Officers and professional advisers	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 7

Camdon Limited

Officers and professional advisers

Director	Mr D J Bridge

Registered office	c/o Bulcock & Co
	10 The Bull Ring
	Northwich
	Cheshire
	CW9 5BS

Accountants	M B L
	Chartered Accountants
	10 The Bull Ring
	Northwich
	Cheshire
	CW9 5BS

Camdon Limited

Statement of financial position

31 December 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		43,800	33,333

Current assets

Stocks		38,073	12,000
Debtors	6	281,288	336,449
Cash at bank and in hand		8,097	94
		---------	---------
		327,458	348,543

Creditors: amounts falling due within one year	7	336,102		357,122
		---------		---------
Net current liabilities			8,644	8,579
			--------	--------
Total assets less current liabilities			35,156	24,754

Creditors: amounts falling due after more than one year	8		28,102	22,896

Provisions	783	1,041
	--------	--------
Net assets	6,271	817
	--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	6,269	815
	-------	----
Shareholders funds	6,271	817
	-------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Camdon Limited

Statement of financial position (continued)

31 December 2017

These financial statements were approved by the board of directors and authorised for issue on 24 September 2018 , and are signed on behalf of the board by:

Mr D J Bridge
Director

Company registration number: 06980790

Camdon Limited

Notes to the financial statements

Year ended 31 December 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Bulcock & Co, 10 The Bull Ring, Northwich, Cheshire, CW9 5BS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	25% straight line
Motor Vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2016: 4 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2017	27,325	38,211	65,536
Additions	–	25,950	25,950
Disposals	–	( 12,250)	( 12,250)
	--------	--------	--------
At 31 December 2017	27,325	51,911	79,236
	--------	--------	--------
Depreciation
At 1 January 2017	27,325	4,878	32,203
Charge for the year	–	7,571	7,571
Disposals	–	( 4,338)	( 4,338)
	--------	--------	--------
At 31 December 2017	27,325	8,111	35,436
	--------	--------	--------
Carrying amount
At 31 December 2017	–	43,800	43,800
	--------	--------	--------
At 31 December 2016	–	33,333	33,333
	--------	--------	--------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 December 2017	43,800
	--------
At 31 December 2016	33,333
	--------

6. Debtors

	2017	2016
	£	£
Trade debtors	209,837	336,449
Other debtors	71,451	–
	---------	---------
	281,288	336,449
	---------	---------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	40,202	56,897
Trade creditors	185,027	98,091
Corporation tax	9,412	14,889
Social security and other taxes	51,214	108,259
Other creditors	50,247	78,986
	---------	---------
	336,102	357,122
	---------	---------

Bank loans and overdrafts amounting to £40,202 (2016 - £56,897) are secured over the assets of the company. Included in other creditors are hire purchase creditors amounting to £9,840 (2016 - £7,164) which are secured over the assets to which they relate.

8. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Other creditors	28,102	22,896
	--------	--------

Included in other creditors are hire purchase creditors amounting to £28,102 (2016 - £22,896) which are secured over the assets to which they relate.

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr D J Bridge	–	71,451	–	71,451
	----	--------	----	--------

	2016
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr D J Bridge	42,161	–	( 42,161)	–
	--------	----	--------	----

Mr D J Bridge had maximum outstanding advances during the year of £71,451. The advances were interest bearing, repayable on demand and the company held no security in their respect .