Cotswold Mechanical Limited - Period Ending 2014-04-30

Registration number: 06956819

Cotswold Mechanical Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2014
 

Robert Powell
Chartered Accountants
C2 Spinnaker House
Hempsted Lane
Gloucester
GL2 5FD

Cotswold Mechanical Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Cotswold Mechanical Limited
(Registration number: 06956819)
Abbreviated Balance Sheet at 30 April 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					44,103			58,799
Current assets
Stocks					42,705			37,840
Debtors					157,599			189,361
Cash at bank and in hand					49,753			294
					250,057			227,495
Creditors: Amounts falling due within one year					(140,587)			(185,441)
Net current assets					109,470			42,054
Total assets less current liabilities					153,573			100,853
Creditors: Amounts falling due after more than one year					(90,175)			(78,500)
Net assets					63,398			22,353
Capital and reserves
Called up share capital		4			1,000			1,000
Profit and loss account					62,398			21,353
Shareholders' funds					63,398			22,353

For the year ending 30 April 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 30 December 2014

.........................................
Mr T G Haylett
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Cotswold Mechanical Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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).

Turnover

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

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
Plant and machinery	25% reducing balance basis
Motor vehicles	25% reducing balance basis
Office equipment	25% reducing balance basis

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Cotswold Mechanical Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2013		147,620			147,620
At 30 April 2014		147,620			147,620
Depreciation
At 1 May 2013		88,821			88,821
Charge for the year		14,696			14,696
At 30 April 2014		103,517			103,517
Net book value
At 30 April 2014		44,103			44,103
At 30 April 2013		58,799			58,799

3

Creditors

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

		2014 £			2013 £
After more than five years not by instalments		90,175			78,500

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000
Ordinary B shares of £1 each		1			1			1			1
Ordinary C shares of £1 each		1			1			1			1
Ordinary D shares of £1 each		1			1			1			1
		1,003			1,003			1,003			1,003

Page 3