Company Registration No. 05310119 (England and Wales)
CRAFT INTERIOR DESIGN LIMITED
T/A KOUBOU INTERIORS
ABBREVIATED ACCOUNTS
FOR THE 18 MONTHS ENDED 30 JUNE 2015
CRAFT INTERIOR DESIGN LIMITED
T/A KOUBOU INTERIORS
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CRAFT INTERIOR DESIGN LIMITED
T/A KOUBOU INTERIORS
ABBREVIATED BALANCE SHEET
- 1 -
2015
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,136
6,903
Current assets
Stocks
4,348
5,828
Debtors
4,748
20,436
Cash at bank and in hand
4,341
11,072
13,437
37,336
Creditors: amounts falling due within one year
(11,227)
(12,815)
Net current assets
2,210
24,521
Total assets less current liabilities
7,346
31,424
Creditors: amounts falling due after more than one year
4
See post year end change
(333,266)
(213,752)
(325,920)
(182,328)
Capital and reserves
See post year end change
Called up share capital
3
2
2
Profit and loss account
(325,922)
(182,330)
Shareholders' funds
(325,920)
(182,328)
For the financial 18 months ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the 18 months in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 6 January 2016
Mrs G S Craft
Director
Company Registration No. 05310119
CRAFT INTERIOR DESIGN LIMITED
T/A KOUBOU INTERIORS
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE 18 MONTHS ENDED 30 JUNE 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Even though the company has net liabilities, the directors are confident that the company will continue to trade and will be able to meet it's liabilities as they fall due. Continuing support is provided to the company by the directors as detailed in the transactions with directors note to the account and on this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
The loans from the directors were converted to shares on 28 August 2015.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
20% reducing balance
Plant and machinery
20% reducing balance
Computer equipment
20% reducing balance
Fixtures, fittings & equipment
20% reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
CRAFT INTERIOR DESIGN LIMITED
T/A KOUBOU INTERIORS
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE 18 MONTHS ENDED 30 JUNE 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014
60,964
Additions
399
Disposals
(79)
At 30 June 2015
61,284
Depreciation
At 1 January 2014
54,061
On disposals
(79)
Charge for the period
2,166
At 30 June 2015
56,148
Net book value
At 30 June 2015
5,136
At 31 December 2013
6,903
3
Share capital
2015
2013
£
£
Allotted, called up and fully paid
2 Ordinary Shares of £1 each
2
2
98 Ordinary £1 shares were allotted on 28 August 2015, for a consideration of £333,266 from the conversion of the loans from the directors to the company.
4
Transactions with directors
At the year end, within creditors: amounts falling due in more than one year, is a balance of £213,732 (2013: £136,903) due to Mr R M Craft, director and a balance of £119,533 (2013: £76,849) due to Mrs G S Craft, director.
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