Registered Number 05177993
ESSEX WOODCRAFT LIMITED
Abbreviated Accounts
30 April 2015
Notes | 2015 | 2014 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
|
|
Tangible assets | 3 |
|
|
|
|
||
Current assets | |||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Total net assets (liabilities) |
|
|
|
Capital and reserves | |||
Called up share capital | 4 |
|
|
Revaluation reserve |
|
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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).
Turnover policy
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
Tangible assets depreciation policy
Plant and machinery 25% Reducing balance
Fixtures, fittings & equipment 25% Straight line
Motor vehicles 25% Reducing balance
Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
Computer software
Computer software is valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.
Other accounting policies
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 so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Stock
Stock is valued at the lower of cost and net realisable value.
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
£ | |
---|---|
Cost | |
At 1 May 2014 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 30 April 2015 |
|
Amortisation | |
At 1 May 2014 |
|
Charge for the year |
|
On disposals |
|
At 30 April 2015 |
|
Net book values | |
At 30 April 2015 | 108,506 |
At 30 April 2014 | 117,855 |
£ | |
---|---|
Cost | |
At 1 May 2014 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 30 April 2015 |
|
Depreciation | |
At 1 May 2014 |
|
Charge for the year |
|
On disposals |
|
At 30 April 2015 |
|
Net book values | |
At 30 April 2015 | 102,100 |
At 30 April 2014 | 101,383 |