Clockhouse Furniture Ltd Small abbreviated accounts

CLOCKHOUSE FURNITURE LIMITED - Company Information

FY Private Limited Company Company accounts 2016-12-02 2016-12-02 false true false false false false false false false false false false true true 2015-07-01 true xbrli:pure xbrli:shares iso4217:GBP SC281686 2015-07-01 2016-06-30 SC281686 2016-06-30 SC281686 2015-06-30 SC281686 2015-06-30 SC281686 uk-gaap:LandBuildings uk-gaap:OwnedOrFreeholdTangibleFixedAssets 2015-07-01 2016-06-30 SC281686 uk-gaap:PlantMachinery 2015-07-01 2016-06-30 SC281686 uk-gaap:FixturesFittings 2015-07-01 2016-06-30 SC281686 uk-gaap:MotorVehicles 2015-07-01 2016-06-30 SC281686 uk-gaap:OfficeEquipment 2015-07-01 2016-06-30 SC281686 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2015-07-01 2016-06-30 SC281686 uk-bus:OrdinaryShareClass1 2015-07-01 2016-06-30 SC281686 uk-bus:Director1 2015-07-01 2016-06-30 SC281686 uk-gaap:AllSubsidiaries 2015-07-01 2016-06-30 SC281686 uk-bus:OrdinaryShareClass1 2016-06-30 SC281686 uk-bus:OrdinaryShareClass1 2015-06-30 SC281686 uk-lang:English 2015-07-01 2016-06-30 SC281686 uk-curr:PoundSterling 2015-07-01 2016-06-30 SC281686 uk-gaap:OtherTangibleFixedAssets 2015-07-01 2016-06-30

COMPANY REGISTRATION NUMBER SC281686

CLOCKHOUSE FURNITURE LTD

UNAUDITED ABBREVIATED ACCOUNTS

30 June 2016

C A CAMERON ACA

Chartered Accountants

Opera Close

22B Court Street

Haddington

East Lothian

EH41 3JA

CLOCKHOUSE FURNITURE LTD

ACCOUNTANT'S REPORT TO THE DIRECTORS OF CLOCKHOUSE

FURNITURE LTD

YEAR ENDED 30 JUNE 2016

In accordance with our terms of engagement, and in order to assist you to fulfil your duties under the Companies Act 2006, I have compiled the financial statements of the company which comprise the Balance Sheet and the related notes from the accounting records and information and explanations you have given to me.

This report is made to the Company's Directors, as a body, in accordance with the terms of my engagement. My work has been undertaken so that I might compile the financial statements that I have been engaged to compile, report to the Company's Directors that I have done so, and state those matters that I have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Directors, as a body, for my work or for this report.

I have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered Accountants in England and Wales and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the balance sheet as at 30 June 2016 your duty to ensure that the company has kept adequate accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

I have not been instructed to carry out an audit of the financial statements. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the financial statements.

C A CAMERON ACA Chartered Accountants

Opera Close 22B Court Street Haddington East Lothian EH41 3JA

18 November 2016

CLOCKHOUSE FURNITURE LTD

ABBREVIATED BALANCE SHEET

30 June 2016

	2016	2015
Note	£	£	£
FIXED ASSETS	2
Tangible assets		938,338	950,885
		----------	----------

CURRENT ASSETS

Stocks	140,377		150,732
Debtors	117,443		80,022
Cash at bank and in hand	5,277		2,265
	----------		----------
	263,097		233,019
CREDITORS: Amounts falling due within one year	365,027		345,663
	----------		----------
NET CURRENT LIABILITIES		( 101,930)	( 112,644)
		----------	----------
TOTAL ASSETS LESS CURRENT LIABILITIES		836,408	838,241

CREDITORS: Amounts falling due after more than one year		771,135	791,050

PROVISIONS FOR LIABILITIES	7,287	5,283
	----------	----------
	57,986	41,908
	----------	----------

CAPITAL AND RESERVES

Called up equity share capital	3		5,000	5,000
Profit and loss account		52,986	36,908
		---------	---------
SHAREHOLDERS' FUNDS		57,986	41,908
		---------	---------

For the year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 28 November 2016 , and are signed on their behalf by:

Mr N Parry Director

Company Registration Number: SC281686

CLOCKHOUSE FURNITURE LTD

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 30 JUNE 2016

1. ACCOUNTING POLICIES

Basis of accounting

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 represents amounts invoiced during the year, exclusive of Value Added Tax.

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:

Land and Property-Building straight line over 50 years

Plant & Machinery-15% reducing balance

Fixtures & Fittings-33% straight line

Motor Vehicles-25% reducing balance

Website-25% reducing balance

Land is not depreciated in anticipation of rising value.

Stocks

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

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, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

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.

Foreign currencies

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

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1 July 2015	1,031,966
Additions	12,479
Disposals	( 9,293)
	-------------
At 30 June 2016	1,035,152
	-------------

DEPRECIATION

At 1 July 2015	81,081
Charge for year	22,605
On disposals	( 6,872)
	---------
At 30 June 2016	96,814
	---------

NET BOOK VALUE

At 30 June 2016	938,338
	----------

At 30 June 2015	950,885
	----------

Property consists of land and completed buildings capitalised.

The share capital has been amended in the year ended 30 June 2007 to reflect the actual share issue of 1 ordinary share of £1 each. The previous year accounts showed 100 shares of £1 each.

3. SHARE CAPITAL

Allotted, called up and fully paid:

2016	2015
No.	£	No.	£
Ordinary shares of £ 1 each	5,000	5,000	5,000	5,000
	-------	-------	-------	-------