Cougar Developments (Glanford) Limited - Period Ending 2015-10-31

Registration number: 01762481

Cougar Developments (Glanford) Limited

Abbreviated Accounts

for the Year Ended 31 October 2014
 

787878787
Cougar Developments (Glanford) Limited
Registration number: 01762481
Abbreviated Balance Sheet at 31 October 2014

		Note			2014						2013
	£			£			£			£
Fixed assets
Tangible fixed assets		2						42,042						52,038
Current assets
Stocks					100,713						180,323
Debtors					250,045						138,852
Cash at bank and in hand					251,754						201,005
					602,512						520,180
Creditors: Amounts falling due within one year					(386,423)						(398,595)
Net current assets								216,089						121,585
Total assets less current liabilities								258,131						173,623
Provisions for liabilities								(6,123)						(6,291)
Net assets								252,008						167,332
Capital and reserves
Called up share capital		3			130						130
Profit and loss account					251,878						167,202
Shareholders' funds								252,008						167,332

For the year ending 31 October 2014 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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 20 July 2015 and signed on its behalf by:

Mr R E Watkins
Director

The notes on pages 2 to 3 form an integral part of these financial statements.

787878787
Cougar Developments (Glanford) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% on written down value
Motor vehicles	25% on written down value
Expenditure on workshop premises	over 15 years

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

The notes on pages 2 to 3 form an integral part of these financial statements.

787878787
Cougar Developments (Glanford) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2013		368,306			368,306
Additions		7,000			7,000
Disposals		(25,101)			(25,101)
At 31 October 2014		350,205			350,205
Amortisation
At 1 November 2013		316,268			316,268
Charge for the year		7,885			7,885
Eliminated on disposals		(15,990)			(15,990)
At 31 October 2014		308,163			308,163
Net book value
At 31 October 2014		42,042			42,042
At 31 October 2013		52,038			52,038

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100
Ordinary class A shares of £1 each		10			10			10			10
Ordinary class B shares of £1 each		10			10			10			10
Ordinary class C shares of £1 each		10			10			10			10
		130			130			130			130

The notes on pages 2 to 3 form an integral part of these financial statements.