Company Registration No. 08708678 (England and Wales)
CHANTRY CONCRETE PRODUCTS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
CHANTRY CONCRETE PRODUCTS LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
CHANTRY CONCRETE PRODUCTS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CHANTRY CONCRETE PRODUCTS LIMITED FOR THE YEAR ENDED 31 MARCH 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chantry Concrete Products Limited for the year ended 31 March 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.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Chantry Concrete Products Limited, as a body, in accordance with the terms of our engagement letter
.
Our work has been undertaken solely to prepare for your approval the financial statements of Chantry Concrete Products Limited and state those matters that we have agreed to state to the Board of Directors of Chantry Concrete Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chantry Concrete Products Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Chantry Concrete Products Limited 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 Chantry Concrete Products Limited. You consider that Chantry Concrete Products Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Chantry Concrete Products Limited. 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.
Carpenter Box
22 December 2016
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
CHANTRY CONCRETE PRODUCTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
128,337
167,836
Current assets
Stocks
46,601
60,036
Debtors
257,786
216,809
Cash at bank and in hand
2,885
18,456
307,272
295,301
Creditors: amounts falling due within one year
3
(651,768)
(672,050)
Net current liabilities
(344,496)
(376,749)
Total assets less current liabilities
(216,159)
(208,913)
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
(216,259)
(209,013)
Shareholder's funds
(216,159)
(208,913)
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 20 December 2016
Mr S A C Dudman
Director
Company Registration No. 08708678
CHANTRY CONCRETE PRODUCTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements have been prepared on a going concern basis, which assumes the company will continue trading for the foreseeable future. The company is reliant on the support of the director and associated companies who are happy to continue to lend their support. The financial statements do not include any adjustments that would result from the withdrawal of this support.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
Straight line over 3, 5 and 10 years.
1.4
Stock
Stock is valued at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
220,500
Depreciation
At 1 April 2015
52,664
Charge for the period
39,499
At 31 March 2016
92,163
Net book value
At 31 March 2016
128,337
At 31 March 2015
167,836
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £160,235).
CHANTRY CONCRETE PRODUCTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 ordinary shares of £1 each
100
100
5
Related party relationships and transactions
During the year the company had a number of transactions with companies in which Mr S Dudman is a director and shareholder.
Dudman Chantry (Industries) Limited
Purchases £62,028 (2015 £74,068)
Balance owed £6,234 (2015 £6,178)
Dudman Haulage Limited
Purchase £153,574 (2015 £180,239 invoices)
Balance owed £48,430 (2015 £63,257)
Dudman Aggregates Limited
Purchases £356,474 (2015 £302,154 invoices)
Sales £18,782 (2015 nil)
Balance owed £73,797 (2015 £128,087)
Lasertech Engineering Limited
Purchases £10,077 (2015 £8,066)
Balance owed nil (2015 £2,361)
Dudman Investments Limited
Purchases £30,732 (2015 £1,225)
Balance due £3,242 (2015 £27,314 owed to Dudman Investments Limited)
Dudman Ready Mix Concrete Limited
Purchases £1,414 (2015 nil)
Cash advance received nil (2015 £5,000)
Balance owed £6,698 (2015 £5,000)