Concept Balustrades Limited - Period Ending 2014-10-31

Registration number: 04075479

Concept Balustrades Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2014
 

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

Concept Balustrades Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Concept Balustrades Limited
(Registration number: 04075479)
Abbreviated Balance Sheet at 31 October 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			65,226			48,514
Investments		2			1			1
					65,227			48,515
Current assets
Stocks					3,000			3,000
Debtors					325,790			354,710
Cash at bank and in hand					212,146			248,663
					540,936			606,373
Creditors: Amounts falling due within one year					(134,693)			(130,346)
Net current assets					406,243			476,027
Total assets less current liabilities					471,470			524,542
Creditors: Amounts falling due after more than one year					(21,014)			(20,787)
Provisions for liabilities					(5,580)			(1,318)
Net assets					444,876			502,437
Capital and reserves
Called up share capital		4			5			5
Profit and loss account					444,871			502,432
Shareholders' funds					444,876			502,437

For the year ending 31 October 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 9 January 2015

.........................................
 Mr Grant Spencer Smith
 Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

Concept Balustrades Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 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. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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
Fixtures, fittings and equipment	20% reducing balance
Motor vehicles	25% reducing balance
Office equipment	25% reducing balance

Fixed asset investments

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

Stock

Stock is 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.

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.

Page 2

Concept Balustrades Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 November 2013		217,533			1			217,534
Additions		38,325			-			38,325
Disposals		(5,000)			-			(5,000)
At 31 October 2014		250,858			1			250,859
Depreciation
At 1 November 2013		169,019			-			169,019
Charge for the year		21,613			-			21,613
Eliminated on disposals		(5,000)			-			(5,000)
At 31 October 2014		185,632			-			185,632
Net book value
At 31 October 2014		65,226			1			65,227
At 31 October 2013		48,514			1			48,515

Page 3

Concept Balustrades Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		20,193			10,480
Amounts falling due after more than one year		21,014			20,787
Total secured creditors		41,207			31,267

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		5			5			5			5

5	Related party transactions

Director's advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr Grant Spencer Smith
Amounts advanced and repaid	-	-	17,278	25,315

These amounts have been aggregated by kind. The director considers that this does not impair a true and fair view of the financial statements.

Page 4