Company Registration No. 04947361 (England and Wales)
Christy Interiors Limited
Unaudited accounts
for the year ended 31 December 2017
Christy Interiors Limited
Unaudited accounts
Contents
Christy Interiors Limited
Company Information
for the year ended 31 December 2017
Directors
A N Baxter
Mr N A Baxter
Company Number
04947361 (England and Wales)
Registered Office
Unit 7A Colwick Quays Business Park,
Road No 2, Colwick
Nottingham
NG4 2JY
UK
Accountants
Net Accountancy Solutions Limited
51A Mount Pleasant
Keyworth
Nottingham
Nottinghamshire
NG12 5EP
Christy Interiors Limited
Statement of financial position
as at
31 December 2017
Tangible assets
15,275
5,562
Cash at bank and in hand
13,157
36,822
Creditors: amounts falling due within one year
(73,692)
(104,845)
Net current assets
64,330
85,467
Called up share capital
1
1
Profit and loss account
79,604
91,028
Shareholders' funds
79,605
91,029
For the year ending 31 December 2017 the company was entitled to exemption from audit 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 24 September 2018.
Mr N A Baxter
Director
Company Registration No. 04947361
Christy Interiors Limited
Notes to the Accounts
for the year ended 31 December 2017
Christy Interiors Limited is a private company, limited by shares, registered in England and Wales, registration number 04947361. The registered office is Unit 7A Colwick Quays Business Park, , Road No 2, Colwick, Nottingham, NG4 2JY , UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Stock and work in progress
Stock and work in progress have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised 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 rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates an auto-enrolment pension scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Christy Interiors Limited
Notes to the Accounts
for the year ended 31 December 2017
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 January 2017
2,023
21,231
23,254
Additions
-
14,136
14,136
At 31 December 2017
2,023
35,367
37,390
At 1 January 2017
-
17,692
17,692
Charge for the year
-
4,423
4,423
At 31 December 2017
-
22,115
22,115
At 31 December 2017
2,023
13,252
15,275
At 31 December 2016
2,023
3,539
5,562
Raw materials
5,850
5,250
Trade debtors
31,982
71,557
Amounts due from group undertakings etc.
85,110
71,551
Other debtors
1,923
5,132
7
Creditors: amounts falling due within one year
2017
2016
Trade creditors
24,149
34,140
Taxes and social security
5,405
25,860
Loans from directors
35,017
210
8
Share capital
2017
2016
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Christy Interiors Limited
Notes to the Accounts
for the year ended 31 December 2017
9
Operating lease commitments
2017
2016
At 31 December 2017 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
-
2,160
10
Transactions with related parties
Included in other debtors is £85,110 (2016: £71,551) owed to the company by it's parent, Christy Stitchline Limited. This amount is interest free and repayable on demand.
Since 16 August 2016 the company's parent and ultimate parent undertaking is Christy Stitchline Limited, a company registered in England and Wales.
12
Average number of employees
During the year the average number of employees was 7 (2016: 7).