Cougar Developments (Glanford) Limited - Period Ending 2016-10-31

Registration number: 01762481

Cougar Developments (Glanford) Limited

Abbreviated Accounts

for the Year Ended 31 October 2016
 

787878787
Cougar Developments (Glanford) Limited
Registration number: 01762481
Abbreviated Balance Sheet at 31 October 2016

		Note			2016						2015
	£			£			£			£
Fixed assets
Tangible fixed assets		2						31,919						41,195
Current assets
Stocks					77,815						119,176
Debtors					176,307						185,522
Cash at bank and in hand					283,287						412,844
					537,409						717,542
Creditors: Amounts falling due within one year					(319,761)						(395,674)
Net current assets								217,648						321,868
Total assets less current liabilities								249,567						363,063
Provisions for liabilities								(4,912)						(6,186)
Net assets								244,655						356,877
Capital and reserves
Called up share capital		3			130						130
Profit and loss account					244,525						356,747
Shareholders' funds								244,655						356,877

For the year ending 31 October 2016 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on 20 July 2017 and signed on its behalf by:

Mr R E Watkins
Director

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

787878787
Cougar Developments (Glanford) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016

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, net of value added tax, in respect of the sale of goods and 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
Plant and machinery	15% on written down value
Motor vehicles	25% on written down value
Expenditure on workshop premises	over 15 years

Stock

Stock is 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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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.

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

787878787
Cougar Developments (Glanford) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2015		357,145			357,145
Disposals		(8,400)			(8,400)
At 31 October 2016		348,745			348,745
Amortisation
At 1 November 2015		315,950			315,950
Charge for the year		7,776			7,776
Eliminated on disposals		(6,900)			(6,900)
At 31 October 2016		316,826			316,826
Net book value
At 31 October 2016		31,919			31,919
At 31 October 2015		41,195			41,195

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100
Ordinary class A shares of £1 each		10			10			10			10
Ordinary class B shares of £1 each		10			10			10			10
Ordinary class C shares of £1 each		10			10			10			10
		130			130			130			130

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr R E Watkins
Directors account	127,964	146,890	59,794	31,288

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