Abbreviated Company Accounts - CROMWELL NEWS LIMITED

CROMWELL NEWS LIMITED - Company Information

Registered Number 05182450

CROMWELL NEWS LIMITED

Abbreviated Accounts

31 March 2015

CROMWELL NEWS LIMITED Registered Number 05182450

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Called up share capital not paid		-	-
Fixed assets
Tangible assets	2	73,640	63,832
		73,640	63,832
Current assets
Stocks		8,942	9,524
Cash at bank and in hand		334	339
		9,276	9,863
Creditors: amounts falling due within one year		(80,501)	(76,220)
Net current assets (liabilities)		(71,225)	(66,357)
Total assets less current liabilities		2,415	(2,525)
Total net assets (liabilities)		2,415	(2,525)
Capital and reserves
Called up share capital		100	100
Profit and loss account		2,315	(2,625)
Shareholders' funds		2,415	(2,525)

For the year ending 31 March 2015 the company was entitled to exemption 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.

Approved by the Board on 22 November 2015

And signed on their behalf by:
Haidar Alkutubi, Director

CROMWELL NEWS LIMITED Registered Number 05182450

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss accounts represents the sales of Tobacco, confectioner, Gift and Souvenir etc. during the year.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset. Less its estimated residua value over the useful economies life of that asset as follows:

Leasehold property Nil
Fixtures & Fittings - 25% per annum - reducing balance basis

Other accounting policies
The trading stock is valued at lower of cost or net realisable value after making due allowances for obsolete and slow moving items and has been valued and provided by the directors.

2Tangible fixed assets

	£
Cost
At 1 April 2014	80,946
Additions	12,495
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	93,441
Depreciation
At 1 April 2014	17,114
Charge for the year	2,687
On disposals	-
At 31 March 2015	19,801
Net book values
At 31 March 2015	73,640
At 31 March 2014	63,832