Clockwork Organisation Ltd - Limited company - abbreviated - 11.6
Clockwork Organisation Ltd - Limited company - abbreviated - 11.6
REGISTERED NUMBER: |
Abbreviated Accounts for the Year Ended 31 December 2014 |
for |
Clockwork Organisation Ltd |
Clockwork Organisation Ltd (Registered number: 01701385) |
Contents of the Abbreviated Accounts |
for the Year Ended 31 December 2014 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
Clockwork Organisation Ltd |
Company Information |
for the Year Ended 31 December 2014 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Clockwork Organisation Ltd (Registered number: 01701385) |
Abbreviated Balance Sheet |
31 December 2014 |
2014 | 2013 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
Tangible assets | 3 |
Investments | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Profit and loss account |
SHAREHOLDERS' FUNDS |
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. |
Clockwork Organisation Ltd (Registered number: 01701385) |
Abbreviated Balance Sheet - continued |
31 December 2014 |
The financial statements were approved by the Board of Directors on behalf by: |
Clockwork Organisation Ltd (Registered number: 01701385) |
Notes to the Abbreviated Accounts |
for the Year Ended 31 December 2014 |
1. | ACCOUNTING POLICIES |
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 April 2008). |
Turnover |
The turnover shown in the profit and loss account is the amount receivable for the provision of goods |
and services falling within the Company's activities, net of Value Added Tax, rebates and trade |
discounts. Turnover from the provision of goods and services are recognised in the accounting period |
in which the Company obtains the right to consideration in exchange for its performance and when the |
amounts to be recognised are fixed or determinable and collectability is reasonably assured. |
Goodwill |
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of |
the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated |
economic life. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated |
to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives |
on the following bases: |
Freehold property | - Not depreciated |
Motor vehicles | - 25% straight line |
Fixtures & fittings | - 25% straight line |
Office & computer equipment | - 25% - 50% straight line |
Investments |
Investments held as fixed assets are shown at cost less provision for impairment. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date where transactions or events have occurred at that date that will result in an |
obligation to pay more, or a right to pay less or to receive more tax, with the following exception: |
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely |
than not that there will be suitable taxable profits from which the future reversal of the underlying |
timing differences can be deducted. |
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the |
periods in which timing differences reverse, based on tax rates and laws enacted or substantively |
enacted at the balance sheet date. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
over the period of the lease. |
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. |
Clockwork Organisation Ltd (Registered number: 01701385) |
Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2014 |
2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2014 |
and 31 December 2014 |
AMORTISATION |
At 1 January 2014 |
and 31 December 2014 |
NET BOOK VALUE |
At 31 December 2014 |
At 31 December 2013 |
3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2014 |
Additions |
Disposals | ( |
) |
At 31 December 2014 |
DEPRECIATION |
At 1 January 2014 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2014 |
NET BOOK VALUE |
At 31 December 2014 |
At 31 December 2013 |
4. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
£ |
COST |
At 1 January 2014 |
and 31 December 2014 | 2 |
NET BOOK VALUE |
At 31 December 2014 |
At 31 December 2013 |
Clockwork Organisation Ltd (Registered number: 01701385) |
Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2014 |
4. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the |
following: |
Nature of business: |
% |
Class of shares: | holding |
Ordinary | 100.00 |
£ | £ |
Aggregate capital and reserves | 78,788 | 87,843 |
(Loss)/profit for the year | (9,053 | ) | 129,820 |
5. | CREDITORS |
Creditors include an amount of £ |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2014 | 2013 |
value: | £ | £ |
Ordinary shares | £1 |
Ordinary A shares | £1 |
5,002 | 5,002 |
Shares classed as debt |
Allotted, called up and fully paid |
100 Preference shares of £1 each | 100 | 100 |
On 5 February 2013, 2 Ordinary shares were issued in a share for share exchange (see related party |
note for further details). On 11 July 2013, 2501 Ordinary shares were reclassified to Ordinary 'A' |
shares. |
The preference shares are redeemable by option and there are no current plans to redeem these in |
the next 5 years. |
7. | CONTROLLING PARTY |
The company is under the ultimate control of Mr J R and Mrs J L Marsden, directors, who each own |
50% of the issued ordinary share capital. |