REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2015 |
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for |
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C M Ogle Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2015 |
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for |
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C M Ogle Limited |
C M Ogle Limited (Registered number: 01447598) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 December 2015 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
C M Ogle Limited |
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Company Information |
for the Year Ended 31 December 2015 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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C M Ogle Limited (Registered number: 01447598) |
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Abbreviated Balance Sheet |
31 December 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
4 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
C M Ogle Limited (Registered number: 01447598) |
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Abbreviated Balance Sheet - continued |
31 December 2015 |
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The financial statements were approved by the Board of Directors on
by: |
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C M Ogle Limited (Registered number: 01447598) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 December 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents the value of goods sold during the period, net of VAT and trade discounts. Turnover is |
recognised when goods are physically delivered to the customer. |
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Uninvoiced deliveries at the year end are included in accrued income. Invoiced deliveries are included in |
debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods |
have been delivered. |
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Goodwill |
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Tangible fixed assets |
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Short leasehold | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
The stocktake is performed by professional valuers and the stock is valued at the lower of cost and net realisable |
value. Cost represents the purchase price of goods. Net realisable value represents the selling price of completed |
goods less any costs necessary to complete the goods. Provision is made for slow moving, obsolete or damaged |
stock where the net realisable value is less than cost. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. Timing differences are differences between the taxable profits and the results as stated in the |
financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from |
those in which they are recognised in the financial statements. |
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A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as |
more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing |
differences can be deducted. |
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Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding |
agreement to sell the revalued assets and the assets have been revalued to selling price. Neither is deferred tax |
recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, being |
charged to tax only if and when replacement assets are sold. |
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Deferred tax is measured at the average rates that are expected to apply in the periods in which the timing |
differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date. |
Deferred tax is measured on a non-discounted basis. |
C M Ogle Limited (Registered number: 01447598) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2015 |
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1. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to the profit and loss account in the period to which they relate. |
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Rentals paid under operating leases are charged to the profit and loss account in the year in which they are paid. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
Cost |
At 1 January 2015 |
and 31 December 2015 |
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Amortisation |
At 1 January 2015 |
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Amortisation for year |
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At 31 December 2015 |
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Net book value |
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At 31 December 2015 |
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At 31 December 2014 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
Cost |
At 1 January 2015 |
and 31 December 2015 |
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Depreciation |
At 1 January 2015 |
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Charge for year |
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At 31 December 2015 |
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Net book value |
At 31 December 2015 |
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At 31 December 2014 |
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C M Ogle Limited (Registered number: 01447598) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2015 |
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4. | CREDITORS |
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Creditors include an amount of £
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary | £1 |
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6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 December 2015 and |
31 December 2014: |
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2015 | 2014 |
£ | £ |
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Balance outstanding at start of year |
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Amounts repaid |
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Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts repaid |
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Balance outstanding at end of year |
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The loans have no fixed repayment terms and no interest in charged. |
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7. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by M G Ogle and J C Ogle, the directors of the company, who own 71% of the issued |
share capital. |