Cappi Designs Limited - Accounts

Cappi Designs Limited - Accounts

CAPPI DESIGNS LIMITED - Company Information

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Registered number
03478790
Cappi Designs Limited
Report and Unaudited Accounts
31 December 2014
TRUEMAN BROWN
CHARTERED ACCOUNTANTS
7 FOXGLOVE ROAD
SOUTH OCKENDON
ESSEX. RM15 6EU
Cappi Designs Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Chartered Accountants' report 4
Profit and loss account 5
Balance sheet 6
Notes to the accounts 7
Cappi Designs Limited
Company Information
Directors
Mr S Cappi
Secretary
Mrs G F Cappi
Accountants
Trueman Brown
7 Foxglove Road
South Ockendon
Essex
RM15 6EU
Registered office
7 Foxglove Road
South Ockendon
Essex
RM15 6EU
Registered number
03478790
Cappi Designs Limited
Directors' Report
The directors present their report and accounts for the year ended 31 December 2014.
Principal activities
The company's principal activity during the year continued to be …
Directors
The following persons served as directors during the year:
Mr S Cappi
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 15 September 2015 and signed by its order.
Mrs G F Cappi
Secretary
Cappi Designs Limited
Profit and Loss Account
for the year ended 31 December 2014
Notes 2014 2013
£ £
Turnover 70,099 65,374
Administrative expenses (9,660) (9,602)
Operating profit 2 60,439 55,772
Profit on ordinary activities before taxation 60,439 55,772
Tax on profit on ordinary activities 3 (12,090) (11,152)
Profit for the financial year 48,349 44,620
Cappi Designs Limited
Balance Sheet
as at 31 December 2014
Notes 2014 2013
£ £
Fixed assets
Tangible assets 4 419 264
Current assets
Debtors 5 281 3,870
Cash at bank and in hand 20,694 14,426
20,975 18,296
Creditors: amounts falling due within one year 6 (16,840) (18,389)
Net current assets/(liabilities) 4,135 (93)
Total assets less current liabilities 4,554 171
Provisions for liabilities 7 (84) (50)
Net assets 4,470 121
Capital and reserves
Called up share capital 8 100 100
Profit and loss account 9 4,370 21
Shareholders' funds 4,470 121
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Spencer Cappi
Director
Approved by the board on 15 September 2015
Cappi Designs Limited
Notes to the Accounts
for the year ended 31 December 2014
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipment 25% straight line
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
2 Operating profit 2014 2013
£ £
This is stated after charging:
Depreciation of owned fixed assets 228 133
Directors' remuneration 8,000 8,000
3 Taxation 2014 2013
£ £
UK corporation tax 12,057 11,181
Deferred tax 33 (29)
12,090 11,152
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2014 529
Additions 383
At 31 December 2014 912
Depreciation
At 1 January 2014 265
Charge for the year 228
At 31 December 2014 493
Net book value
At 31 December 2014 419
At 31 December 2013 264
5 Debtors 2014 2013
£ £
Trade debtors - 3,589
Other debtors 281 281
281 3,870
6 Creditors: amounts falling due within one year 2014 2013
£ £
Corporation tax 12,057 11,181
Other taxes and social security costs 3,773 5,936
Other creditors 1,010 1,272
16,840 18,389
7 Provisions for liabilities
Deferred taxation: 2014 2013
£ £
Accelerated capital allowances 84 50
2014 2013
£ £
At 1 January 50 79
Deferred tax charge in profit and loss account 34 (29)
At 31 December 84 50
8 Share capital Nominal 2014 2014 2013
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
9 Profit and loss account 2014
£
At 1 January 2014 21
Profit for the year 48,349
Dividends (44,000)
At 31 December 2014 4,370
10 Dividends 2014 2013
£ £
Dividends for which the company became liable during the year:
Dividends paid 44,000 44,900
11 Related party transactions
The company was under the control of Mr S Cappi throughout the current and previous year. Mr S Cappi is the managing director and majority shareholder.
No transactions with related parties were undertaken such as are required to be disclosed under
Financial Reporting Standard for Smaller Entities.
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