CHALLENGER_TEXT_LTD - Accounts

CHALLENGER TEXT LIMITED - Company Information

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Company Registration No. 05512986 (England and Wales)

CHALLENGER TEXT LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2015

CHALLENGER TEXT LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

CHALLENGER TEXT LTD

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2015

- 1 -

2015

2014

Notes

Current assets

Stocks

12,471,310

8,600,000

Debtors

207,562

35,270

Cash at bank and in hand

99,683

129,115

12,778,555

8,764,385

Creditors: amounts falling due within one year

(7,656,329)

(7,087,622)

Total assets less current liabilities

5,122,226

1,676,763

Creditors: amounts falling due after more than one year

7,895,559

4,388,955

Capital and reserves

Called up share capital

Profit and loss account

(2,773,334)

(2,712,193)

Shareholders' funds

(2,773,333)

(2,712,192)

5,122,226

1,676,763

For the financial year ended 30 April 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 year 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

A P D Musry

Director

Company Registration No. 05512986

CHALLENGER TEXT LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

- 2 -

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).

The accounts have been prepared on a going concern basis notwithstanding the negative balance sheet total. The going concern basis is dependent on the bank maintaining their support.

1.2

Stock

Stock of land and development costs, includes interest on trading loans,and is valued at the lower of cost and net realisable value.

1.3

Revenue recognition

Income on disposal of trading stock is recognised on completion.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £5,425,000 (2014 - £5,424,370).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £7,895,559 (2014 - £4,388,955).

Share capital

2015

2014

Allotted, called up and fully paid

1 Ordinary shares of £1 each

Ultimate parent company

The ultimate parent company is Windowhome Limited, a company registered in England and Wales.