REGISTERED NUMBER:
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Charlestown Ltd |
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Abbreviated Unaudited Accounts |
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for the Year Ended 29 February 2016 |
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REGISTERED NUMBER:
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Charlestown Ltd |
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Abbreviated Unaudited Accounts |
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for the Year Ended 29 February 2016 |
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Charlestown Ltd (Registered number: 04680474) |
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Contents of the Abbreviated Accounts |
for the year ended 29 February 2016 |
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Page |
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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 |
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Chartered Accountants' Report | 6 |
Charlestown Ltd |
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Company Information |
for the year ended 29 February 2016 |
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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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Charlestown Ltd (Registered number: 04680474) |
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Abbreviated Balance Sheet |
29 February 2016 |
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29.2.16 | 28.2.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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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 | 3 |
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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 |
3 |
( |
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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 | 4 |
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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. |
Charlestown Ltd (Registered number: 04680474) |
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Abbreviated Balance Sheet - continued |
29 February 2016 |
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The financial statements were approved by the Board of Directors on
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Charlestown Ltd (Registered number: 04680474) |
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Notes to the Abbreviated Accounts |
for the year ended 29 February 2016 |
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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 amounts receivable for goods and services, net of VAT and trade discounts. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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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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Revenue recognition |
Turnover represents revenue earned under a wide range of contracts to provide electrical contract services. |
Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in |
exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, |
which represents amounts chargeable to clients, including expenses and disbursements but excluding value |
added tax. |
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Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the |
partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual |
of the right to consideration by reference to the value of work performed. Revenue not billed to clients is |
included in debtors and is stated at the net sales value of the work done after provision for contingencies and |
anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress |
payments are included in creditors as payments on account. |
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Income that is contingent on events outside the control of the company is recognised when the contingent event |
occurs. |
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Leasing and hire purchase commitments |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and |
depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are |
included in creditors net of the finance charge allocated to future periods. The finance element of the rental |
payment is charged to the profit and loss account as to produce a constant periodic rate of charge on the net |
obligation outstanding in each period. |
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Rentals payable under operating leases are charged against income on a straight line basis over the lease term. |
Charlestown Ltd (Registered number: 04680474) |
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Notes to the Abbreviated Accounts - continued |
for the year ended 29 February 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 March 2015 |
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Additions |
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Disposals | ( |
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At 29 February 2016 |
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DEPRECIATION |
At 1 March 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 29 February 2016 |
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NET BOOK VALUE |
At 29 February 2016 |
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At 28 February 2015 |
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The net book value of tangible fixed assets includes £58,766 (2015 - £78,354) in respect of assets held under |
finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £19,589 |
(2015 - £17,245) for the year. |
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3. | CREDITORS |
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Creditors include an amount of £
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.2.16 | 28.2.15 |
value: | £ | £ |
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Ordinary | £1 |
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Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Charlestown Ltd |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Charlestown Ltd for the year ended 29 February 2016 which comprise the Profit and Loss |
Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of Charlestown Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Charlestown Ltd and state those matters that we have agreed to state to the Board of Directors of Charlestown Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Charlestown Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Charlestown Ltd. You consider that Charlestown Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Charlestown Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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17 June 2016 |