Registered number |
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Registered number: |
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Abbreviated Balance Sheet | |||||||
as at |
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Notes | 2015 | 2014 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 2 |
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Investments | 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 | ( |
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Net current liabilities | ( |
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Net liabilities | ( |
( |
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Capital and reserves | |||||||
Called up share capital | 5 |
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Revaluation reserve |
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Profit and loss account | ( |
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Shareholders' funds | ( |
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O M Wheatcroft | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Abbreviated Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Turnover | ||||||||
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Depreciation | ||||||||
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. | ||||||||
Plant and machinery |
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Motor vehicles |
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Stocks | ||||||||
Stock is valued at the lower of cost and net realisable value. | ||||||||
Deferred taxation | ||||||||
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. | ||||||||
Foreign currencies | ||||||||
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. | ||||||||
Leasing and hire purchase commitments | ||||||||
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations 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. Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
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Pensions | ||||||||
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. | ||||||||
Employee Benefit Trusts | ||||||||
The company has established trusts for the benefit of employees and certain of their dependants. Monies held in these trusts are held by independent trustees and managed at their discretion. Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust vest in identified individuals. Where monies held in a trust are determined by the company on the basis of employees' past services to the business and the company can obtain no future economic benefit from those monies, such monies, whether in the trust or accrued for by the company are charged to the profit and loss account in the period to which they relate. |
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Going Concern | ||||||||
The company made a profit of £19,149 (2014: loss of £756,434) during the year. The directors have considered cash flows and projects for the forthcoming year and consider with their support and the support of the other creditors who have made loans to the company that it is appropriate to prepare the accounts on a going concern basis. | ||||||||
2 | Tangible fixed assets | £ | ||||||
Cost | ||||||||
At 1 March 2014 |
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Disposals | ( |
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At 28 February 2015 |
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Depreciation | ||||||||
At 1 March 2014 |
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Charge for the year |
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On disposals | ( |
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At 28 February 2015 |
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Net book value | ||||||||
At 28 February 2015 |
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At 28 February 2014 |
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3 | Investments | £ | ||||||
Cost | ||||||||
At 1 March 2014 | 104,988 | |||||||
Disposals | (61,943) | |||||||
At 28 February 2015 | 43,045 | |||||||
The company holds 20% or more of the share capital of the following companies: | ||||||||
Capital and | Profit (loss) | |||||||
Company | Shares held | reserves | for the year | |||||
Class | % | £ | £ | |||||
Vile Luka Ltd | Ordinary | 29 | 756,892 | 14,710 | ||||
4 | Loans | 2015 | 2014 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Secured bank loans | - |
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5 | Share capital | Nominal | 2015 | 2015 | 2014 | |||
value | Number | £ | £ | |||||
Allotted, called up and fully paid: | ||||||||
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£ |
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