Abbreviated Company Accounts - CLASSIC LINK LIMITED

CLASSIC LINK LIMITED - Company Information

04142139 CLASSIC LINK LIMITED 2015-07-31 false 2014-08-01 2015-07-31 true 04142139 2014-08-01 2015-07-31 04142139 2015-07-31 04142139 2014-07-31 04142139 uk-gaap-cd-bus:Director1 2014-08-01 2015-07-31 04142139 uk-gaap-cd-bus:Director2 2014-08-01 2015-07-31 uk-gaap-cd-bus:Director3 2014-08-01 2015-07-31 uk-gaap-cd-bus:Director3 2015-07-31 uk-gaap-cd-bus:Director3 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-08-01 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 iso4217:GBP shares

Registered Number 04142139

CLASSIC LINK LIMITED

Abbreviated Accounts

31 July 2015

CLASSIC LINK LIMITED Registered Number 04142139

Abbreviated Balance Sheet as at 31 July 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	6,958	10,602
		6,958	10,602
Current assets
Stocks		2,225	2,475
Debtors		119,363	117,944
Cash at bank and in hand		387	1,122
		121,975	121,541
Creditors: amounts falling due within one year		(72,362)	(73,684)
Net current assets (liabilities)		49,613	47,857
Total assets less current liabilities		56,571	58,459
Creditors: amounts falling due after more than one year		(7,029)	(9,032)
Provisions for liabilities		-	(112)
Total net assets (liabilities)		49,542	49,315
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		49,540	49,313
Shareholders' funds		49,542	49,315

For the year ending 31 July 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 29 April 2016

And signed on their behalf by:
J-Y Girard, Director

CLASSIC LINK LIMITED Registered Number 04142139

Notes to the Abbreviated Accounts for the period ended 31 July 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
Turnover represents the fair value of goods and services provided, excluding value added tax, during the year.

Tangible assets depreciation policy
Fixed Assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 33.3% straight line basis per annum
Motor Vehicles - 25% reducing balance basis per annum
Livestock - 20% straight line basis per annum
Website - 20% straight line basis per annum

Other accounting policies
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire Purchase Agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Deferred Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Foreign Currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2Tangible fixed assets

	£
Cost
At 1 August 2014	101,973
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2015	101,973
Depreciation
At 1 August 2014	91,371
Charge for the year	3,644
On disposals	-
At 31 July 2015	95,015
Net book values
At 31 July 2015	6,958
At 31 July 2014	10,602

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
2 Ordinary shares of £1 each	2	2

4Transactions with directors

Name of director receiving advance or credit:	J-Y Girard
Description of the transaction:	Related Party Transactions
Balance at 1 August 2014:	£ 8,070
Advances or credits made:	£ 5,240
Advances or credits repaid:	-
Balance at 31 July 2015:	£ 13,310

At the balance sheet date the company was owed the sum of £13,310 (2014 - £8,070) by The European School of Animal Osteopathy Limited. This balance is interest free and has no formal repayment terms.

During the year the company provided goods to the value of £16,878 (2014 - £17,650) on an arms' length basis, to ESAO France SAS, a company in which J-Y Girard is a director and controlling shareholder. Balance due at the balance sheet date £nil (2014 - £nil).