Classic Home Improvements Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 07885605 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Classic Home Improvements Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P J Beynon

SECRETARY:

P J Beynon

REGISTERED OFFICE:

Baines & Co

46 Rolle Street

Exmouth

Devon

EX8 2SQ

REGISTERED NUMBER:

07885605 (England and Wales)

ACCOUNTANTS:

Baines & Co

46 Rolle Street

Exmouth

Devon

EX8 2SQ

BANKERS:

The Co-operative Bank plc

Central commercial branch

PO Box 250

Skelmerdale

WN8 6WT

FIXED ASSETS

Tangible assets

2

41,485

43,943

CURRENT ASSETS

Stocks

115,617

61,124

Debtors

31,504

49,983

Cash at bank and in hand

12,969

6,001

160,090

117,108

CREDITORS

Amounts falling due within one year

3

171,367

123,243

NET CURRENT LIABILITIES

(11,277

)

(6,135

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

30,208

37,808

CREDITORS

Amounts falling due after more than one
year

3

(20,024

)

(25,127

)

PROVISIONS FOR LIABILITIES

(3,837

)

(3,572

)

NET ASSETS

6,347

9,109

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

5,347

8,109

SHAREHOLDERS' FUNDS

6,347

9,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 11 January 2017 and were signed by:

P J Beynon - 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

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

20% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

60,989

Additions

9,000

At 31 March 2016

69,989

DEPRECIATION

At 1 April 2015

17,046

Charge for year

11,458

At 31 March 2016

28,504

NET BOOK VALUE

At 31 March 2016

41,485

At 31 March 2015

43,943

3.

CREDITORS

Creditors include an amount of £ 15,588 (31.3.15 - £ 20,691 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

1,000

ordinary

1

1,000