Clockwork Organisation Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 01701385

Abbreviated Accounts for the Year Ended 31 December 2015

for

Clockwork Organisation Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr J R Marsden

Mrs J L Marsden

SECRETARY:

Mrs J L Marsden

REGISTERED OFFICE:

7 St John's Hill

Shrewsbury

Shropshire

SY1 1JD

REGISTERED NUMBER:

01701385

ACCOUNTANTS:

Haines Watts

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

748,984

745,645

Investments

4

2

748,986

745,647

CURRENT ASSETS

Debtors

555,656

531,006

Cash at bank and in hand

475,550

329,357

1,031,206

860,363

CREDITORS

Amounts falling due within one year

5

711,676

597,725

NET CURRENT ASSETS

319,530

262,638

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,068,516

1,008,285

CREDITORS

Amounts falling due after more than one
year

5

(398,999

)

(425,045

)

PROVISIONS FOR LIABILITIES

(1,154

)

(1,467

)

NET ASSETS

668,363

581,773

CAPITAL AND RESERVES

Called up share capital

6

5,002

Profit and loss account

663,361

576,771

SHAREHOLDERS' FUNDS

668,363

581,773

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 8 September 2016 and were signed on
its behalf by:

Mr J R Marsden - 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 January 2015).

Turnover

The turnover shown in the profit and loss account is the amount receivable for the provision of goods

and services falling within the Company's activities, net of Value Added Tax, rebates and trade

discounts. Turnover from the provision of goods and services are recognised in the accounting period

in which the Company obtains the right to consideration in exchange for its performance and when the

amounts to be recognised are fixed or determinable and collectability is reasonably assured.

Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of

the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated

economic life.

Tangible fixed assets

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:

Freehold property

- Not depreciated

Motor vehicles

- 25% straight line

Fixtures & fittings

- 25% straight line

Office & computer equipment

- 25% - 50% straight line

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

Deferred tax

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, with the following exception:

Deferred tax assets are recognised only to the extent that the directors consider that it is 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

40,000

AMORTISATION

At 1 January 2015

and 31 December 2015

40,000

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

810,781

Additions

87,289

Disposals

(87,000

)

At 31 December 2015

811,070

DEPRECIATION

At 1 January 2015

65,136

Charge for year

27,693

Eliminated on disposal

(30,743

)

At 31 December 2015

62,086

NET BOOK VALUE

At 31 December 2015

748,984

At 31 December 2014

745,645

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

2

NET BOOK VALUE

At 31 December 2015

2

At 31 December 2014

2

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Marsden Bower Organisation Limited

Nature of business: Hairdressing

%

Class of shares:

holding

Ordinary

100.00

2015

2014

£

Aggregate capital and reserves

66,646

78,788

Loss for the year

(12,144

)

(9,053

)

5.

CREDITORS

Creditors include an amount of £ 422,905 (2014 - £ 448,145 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2,501

Ordinary shares

£1

2,501

Ordinary A shares

£1

2,501

5,002

Shares classed as debt

Allotted, called up and fully paid

100 Preference shares of £1 each

100

The preference shares are redeemable by option and there are no current plans to redeem these in

the next 5 years.

7.	CONTROLLING PARTY

The company is under the ultimate control of Mr J R and Mrs J L Marsden, directors, who each own

50% of the issued ordinary share capital.