Chevin Homes Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04433029 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2015

FOR

CHEVIN HOMES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

J D Cokayne

J D Fearnehough

REGISTERED OFFICE:

74 Friar Gate

Derby

DE1 1FN

REGISTERED NUMBER:

04433029 (England and Wales)

ACCOUNTANTS:

Smith Cooper Limited

Chartered Accountants

St Helen's House

King Street

Derby

DE1 3EE

FIXED ASSETS

Tangible assets

2

222,822

228,594

CURRENT ASSETS

Stocks

6,831,177

3,313,410

Debtors

83,142

19,925

Cash at bank

-

226,097

6,914,319

3,559,432

CREDITORS

Amounts falling due within one year

3

5,668,277

2,976,344

NET CURRENT ASSETS

1,246,042

583,088

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,468,864

811,682

CREDITORS

Amounts falling due after more than one
year

3

42,907

64,639

NET ASSETS

1,425,957

747,043

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

1,425,955

747,041

SHAREHOLDERS' FUNDS

1,425,957

747,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2015 in accordance with Section 476 of the Companies Act 2006.

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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 April 2016 and were signed on its
behalf by:

J D Fearnehough - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover comprises revenue recognised by the company in respect of the goods and services supplied

during the year, exclusive of Value Added Tax and trade discounts.

Turnover is recognised when property sales are complete.

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 of fixed assets, less their estimated residual value, over their expected useful lives

on the following bases:

S/Term Leasehold Property - 2% straight line

Office Equipment - 25% straight line

Stocks

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 portion of fixed and

variable overheads.

Deferred tax

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

266,323

DEPRECIATION

At 1 August 2014

37,729

Charge for year

5,772

At 31 July 2015

43,501

NET BOOK VALUE

At 31 July 2015

222,822

At 31 July 2014

228,594

3.

CREDITORS

Creditors include an amount of £ 4,287,959 (2014 - £ 1,990,774 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2

Ordinary

£1

2