C H Stennett Limited - Period Ending 2016-07-31

Registration number: 05499023

C H Stennett Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

Bulley Davey Limited
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 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			7,216			9,355
Current assets
Stocks					151,925			139,953
Debtors					2,201			4,818
Cash at bank and in hand					168,812			175,301
					322,938			320,072
Creditors: Amounts falling due within one year					(270,438)			(233,417)
Net current assets					52,500			86,655
Net assets					59,716			96,010
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					59,616			95,910
Shareholders' funds					59,716			96,010

For the year ending 31 July 2016 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 6 October 2016 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 2016
......... 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 January 2015).

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 and work in progress

Stock and work in progress are 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2015		60,000			23,012			83,012
At 31 July 2016		60,000			23,012			83,012
Depreciation
At 1 August 2015		60,000			13,657			73,657
Charge for the year		-			2,139			2,139
At 31 July 2016		60,000			15,796			75,796
Net book value
At 31 July 2016		-			7,216			7,216
At 31 July 2015		-			9,355			9,355

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		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