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Registered number: 02949389
THE COPIER WAREHOUSE LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
Whiting & Partners
Chartered Accountants & Business Advisers
George Court
Bartholomew's Walk
Ely
Cambridgeshire
CB7 4JW
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THE COPIER WAREHOUSE LIMITED
REGISTERED NUMBER: 02949389
ABBREVIATED BALANCE SHEET
AS AT 31 MAY 2015
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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PROVISIONS FOR LIABILITIES
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The director considers that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 May 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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THE COPIER WAREHOUSE LIMITED
ABBREVIATED BALANCE SHEET (continued)
AS AT 31 MAY 2015
The abbreviated accounts, which have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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THE COPIER WAREHOUSE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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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).
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The turnover shown in the profit and loss account represents amounts invoiced during the year, inclusive of Value Added Tax, less amounts payable under the Flat Rate VAT Scheme.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
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Tangible fixed assets and depreciation
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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:
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Leasing and hire purchase
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Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts, are capitalised in the balance sheet and are depreciated over their useful lives. The capital elements of future obligations under the leases and hire purchase contracts are included as liabilities in the balance sheet. c The interest elements of the rental obligations are charged in the profit and loss account over the periods of the leases and hire purchase contracts and represent a constant proportion of the balance of capital repayments outstanding.
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Page 3
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THE COPIER WAREHOUSE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
1.ACCOUNTING POLICIES (continued)
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as 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 assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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2.TAXATION
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Analysis of tax charge in the year
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UK corporation tax charge on profit for the year
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Origination and reversal of timing differences
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Tax on profit on ordinary activities
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Page 4
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THE COPIER WAREHOUSE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
3.TANGIBLE FIXED ASSETS
4.SHARE CAPITAL
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Authorised, allotted, called up and fully paid
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2 Ordinary shares of £1 each
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5.RELATED PARTY TRANSACTIONS
The company was under the control of Mrs Jordan throughout the current and previous year. Mrs Jordan is the managing director and majority shareholder. Included within other creditors is the Directors loan account of £4 (201 £4). During the year dividends of £16,750 (2014 £11,933) were paid to the director Ms D Jordan.
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