Central Retail Limited - Limited company - abbreviated - 11.9
Central Retail Limited - Limited company - abbreviated - 11.9
REGISTERED NUMBER: |
CENTRAL RETAIL LIMITED |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2015 |
CENTRAL RETAIL LIMITED (REGISTERED NUMBER: 04424168) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2015 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 | to | 4 |
CENTRAL RETAIL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2015 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
CENTRAL RETAIL LIMITED (REGISTERED NUMBER: 04424168) |
ABBREVIATED BALANCE SHEET |
31 MARCH 2015 |
2015 | 2014 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 2 |
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. |
The financial statements were approved by the Board of Directors on its behalf by: |
CENTRAL RETAIL LIMITED (REGISTERED NUMBER: 04424168) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2015 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in accordance with applicable United Kingdom accounting |
standards. |
The particular accounting policies adopted, which have been applied consistently throughout the |
current and the prior financial year, are described below. |
Accounting convention |
The financial statements have been prepared under the historical cost convention. |
Financial reporting standard number 1 |
Exemption has been taken from preparing a cash flow statement on the grounds that the company |
qualifies as a small company. |
Turnover and revenue recognition |
Turnover represents amounts derived from the company's principal activity, that of property sales. |
Revenue recognition |
Revenue relates to retention on property sales and is recognised at the point when the right to |
consideration has been received. |
Taxation |
Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to be paid |
(or recovered) using the tax rates and laws that have been enacted or substantively enacted by the |
balance sheet date. |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. Timing differences are differences between the company's taxable profits and |
its results as stated in the financial statements that arise from the inclusion of gains and losses in tax |
assessments in periods different from those in which they are recognised in the financial statements. |
A net deferred tax asset is regarded as recoverable and therefore recognised only extent that, on the |
basis of all available evidence, 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 is measured on a non-discounted basis. |
Going concern |
The company has recorded a profit in the period, and has both net current assets and net assets at the |
balance sheet date. |
As explained in the Report of the Directors, the directors have indicated their intention to strike off the |
company in the foreseeable future. |
As required by Financial Reporting Standard (FRS) 18 Accounting Policies, the directors have |
prepared the financial statements on the basis other than going concern. No material adjustments |
arose as a result of applying a basis other than going concern. No provision has been made for any |
future losses or costs associated with closing the business except to the extent committed at the |
balance sheet date. |
CENTRAL RETAIL LIMITED (REGISTERED NUMBER: 04424168) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 MARCH 2015 |
2. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
Ordinary | £1 |
At the balance sheet date, 1 ordinary share of £1 is held by Torchwood Properties Limited and 1 |
ordinary share of £1 is held by Watkin Jones & Son Limited (parties to the joint venture). Torchwood |
Properties Limited and Watkin Jones & Son Limited are each entitled to 50% of the profits and net |
assets of the company. |
By a subscription agreement for the shares in the company, control is joint between Torchwood |
Properties Limited and Watkin Jones & Son Limited. |