ATTLEY_CLADDING_LIMITED - Accounts

ATTLEY CLADDING LIMITED - Company Information

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Company Registration No. 02485255 (England and Wales)

ATTLEY CLADDING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

ATTLEY CLADDING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ATTLEY CLADDING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

2,177,461

Current assets

Debtors

90,205

83,587

Cash at bank and in hand

20,459

28,685

110,664

112,272

Creditors: amounts falling due within one year

(611,826)

(690,528)

Net current liabilities

(501,162)

(578,256)

Total assets less current liabilities

1,676,299

1,599,205

Creditors: amounts falling due after more than one year

(182,971)

(253,909)

Provisions for liabilities

(7,007)

(7,376)

1,486,321

1,337,920

Capital and reserves

Called up share capital

1,000

Profit and loss account

1,485,321

1,336,920

Shareholders' funds

1,486,321

1,337,920

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 31 July 2014

Mr S J Attley

Director

Company Registration No. 02485255

ATTLEY CLADDING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The director is of the opinion that he intends to assist and meet the company's day to day working capital requirements when necessary and offers his continued support. At the year end, the current liabilities exceeded the current assets by £501,162 (2013 - £578,256). On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% on cost

Investment property

The company's properties are held for long-term investment.

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the director believes that the policy of not providing depreciation is necessary in order for the financial statements to give a true and fair view, since there has been a significant increase in the value between the date of purchase and the balance sheet date.

The carrying values of investment properties are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

ATTLEY CLADDING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2013 & at 31 March 2014

2,178,477

Depreciation

At 1 April 2013 & at 31 March 2014

1,016

Net book value

At 31 March 2014

2,177,461

At 31 March 2013

2,177,461

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £38,688 (2013 - £35,188).

Creditors: amounts falling due after more than one year

2014

2013

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

(57,956)

(113,157)

The aggregate amount of creditors for which security has been given amounted to £182,971 (2013 - £253,909).

Share capital

2014

2013

Allotted, called up and fully paid

1,000 Ordinary of £1 each

1,000