C H Stennett Limited - Period Ending 2014-07-31

Registration number: 05499023

C H Stennett Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2014
 

Bulley Davey
Chartered Certified Accountants
1 - 4 London Road
Spalding
Lincolnshire
PE11 2TA

C H Stennett Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

C H Stennett Limited
(Registration number: 05499023)
Abbreviated Balance Sheet at 31 July 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					6,000			12,000
Tangible fixed assets		2			11,950			14,887
					17,950			26,887
Current assets
Stocks					134,638			130,149
Debtors					3,705			4,364
Cash at bank and in hand					130,245			104,590
					268,588			239,103
Creditors: Amounts falling due within one year					(204,132)			(186,712)
Net current assets					64,456			52,391
Net assets					82,406			79,278
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					82,306			79,178
Shareholders' funds					82,406			79,278

For the year ending 31 July 2014 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 25 September 2014 and signed on its behalf by:

Mrs B Stennett Director Mr N Stennett Director

Mr K Stennett Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

C H Stennett Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% per annum

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance method
Motor vehicles	25% reducing balance method

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

C H Stennett Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2013		60,000			22,089			82,089
Additions		-			712			712
At 31 July 2014		60,000			22,801			82,801
Depreciation
At 1 August 2013		48,000			7,202			55,202
Charge for the year		6,000			3,649			9,649
At 31 July 2014		54,000			10,851			64,851
Net book value
At 31 July 2014		6,000			11,950			17,950
At 31 July 2013		12,000			14,887			26,887

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4

Control

The company is controlled by the directors who own 100% of the called up share capital.

Page 3