Churchtown Futures Limited - Period Ending 2016-10-31

 
 
 
 
 
 
 
  Churchtown Futures Limited
 
  Unaudited Abbreviated Accounts
  Period from 5 May 2015 to 31 October 2016

 
  Company Registration Number: 09573060

Churchtown Futures Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Churchtown Futures Limited
Abbreviated Balance Sheet
31 October 2016

		Note			31 October 2016 £
Fixed assets
Tangible fixed assets		2			579,456
Current assets
Debtors					12,589
Cash at bank and in hand					1,567
					14,156
Creditors: Amounts falling due within one year					(230,293)
Net current liabilities					(216,137)
Net assets					363,319
Capital and reserves
Called up share capital		3			393,453
Profit and loss account					(30,134)
Shareholders' funds					363,319

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

Churchtown Futures Limited
Abbreviated Balance Sheet
31 October 2016 ......... continued

For the peiod ending 31 October 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 7 February 2017 and signed on its behalf by:

Mr T Smit
Director

Company Registration Number: 09573060

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

Churchtown Futures Limited
Notes to the Abbreviated Accounts
Period from 5 May 2015 to 31 October 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).

Turnover

Turnover represents amounts chargeable in respect of the sale of services to customers.

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
Buildings	Over 50 years
Plant and machinery	25% reducing balance

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		583,411			583,411
At 31 October 2016		583,411			583,411
Depreciation
Charge for the period		3,955			3,955
At 31 October 2016		3,955			3,955
Net book value
At 31 October 2016		579,456			579,456

3	Share capital

Allotted, called up and fully paid shares

	31 October 2016
		No.			£
Ordinary shares of £1 each		393,453			393,453

Page 3

Churchtown Futures Limited
Notes to the Abbreviated Accounts
Period from 5 May 2015 to 31 October 2016 ......... continued

New shares allotted

During the period 1 Ordinary shares having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1. The share was allotted on incorporation of the company.

During the period 393,452 Ordinary shares having an aggregate nominal value of £393,452 were allotted for an aggregate consideration of £393,452. The shares were allotted as a rights issue.

Page 4