Chapel Properties (Woodbridge) Ltd - Period Ending 2016-03-31

Registration number: 08899110

Chapel Properties (Woodbridge) Ltd

Unaudited Abbreviated Accounts
 
for the Year Ended 31 March 2016

Staines & Co Accountants
629 Foxhall Road
Ipswich
Suffolk
IP3 8NE

Chapel Properties (Woodbridge) Ltd

Contents

Abbreviated Balance Sheet	1 to 2
Notes to the Abbreviated Accounts	3 to 4

Chapel Properties (Woodbridge) Ltd

(Registration number: 08899110)
Abbreviated Balance Sheet as at 31 March 2016

	Note	2016  £		2015  £
Fixed assets
Tangible assets	2		46,107		8,479
Current assets
Stocks		5,000		136,938
Debtors		35,727		7,841
Cash at bank and in hand		17,137		5,679
		57,864		150,458
Creditors: Amounts falling due within one year		(39,825)		(136,300)
Net current assets			18,039		14,158
Total assets less current liabilities			64,146		22,637
Creditors: Amounts falling due after more than one year			(40,911)		-
Accruals and deferred income			(1,400)		(1,300)
Net assets			21,835		21,337
Capital and reserves
Called up share capital	3	300		300
Profit and loss account		21,535		21,037
Shareholders funds			21,835		21,337

For the year ending 31 March 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.

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Chapel Properties (Woodbridge) Ltd

(Registration number: 08899110)
Abbreviated Balance Sheet as at 31 March 2016

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

Approved by the director on 20 December 2016

.........................................
Mr M Crisp
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Chapel Properties (Woodbridge) Ltd

Notes to the Abbreviated Accounts

1

Accounting policies

Turnover

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

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

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
Plant & machinery	25% reducing balance
Office equipment	25% reducing balance
Motor vehicles	25% reducing balance

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

Chapel Properties (Woodbridge) Ltd

Notes to the Abbreviated Accounts

2

Fixed assets

	Tangible assets £	Total £
Cost
At 1 April 2015	11,305	11,305
Additions	52,999	52,999
At 31 March 2016	64,304	64,304
Depreciation
At 1 April 2015	2,826	2,826
Charge for the year	15,371	15,371
At 31 March 2016	18,197	18,197
Net book value
At 31 March 2016	46,107	46,107
At 31 March 2015	8,479	8,479

3

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100
Ordinary B of £1 each	100	100	100	100
ORdinary C of £1 each	100	100	100	100
	300	300	300	300

4

Control

The director is the controlling party by virtue of his controlling shareholding in the company.

Page 4