Clandon House Limited - Limited company accounts 11.6

REGISTERED NUMBER: 04658042 (England and Wales)

Report of the Director and

Unaudited Financial Statements

for the Year Ended 28 February 2014

for

Clandon House Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

H A Kazemi

SECRETARY:

Mrs M Avazehtalab

REGISTERED OFFICE:

Hitherbury House

97 Portsmouth Road

Guildford

Surrey

GU2 4YF

REGISTERED NUMBER:

04658042 (England and Wales)

ACCOUNTANTS:

AJ Bennewith & Company

3 Wey Court

Mary Road

Guildford

Surrey

GU1 4QU

The director presents his report with the financial statements of the company for the year ended 28 February 2014.

DIRECTOR

H A Kazemi held office during the whole of the period from 1 March 2013 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

H A Kazemi - Director

27 November 2014

TURNOVER

1,647,883

1,264,947

Cost of sales

1,429,779

1,224,329

GROSS PROFIT

218,104

40,618

Administrative expenses

171,380

93,383

46,724

(52,765

)

Other operating income

1,265

60,693

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

2

47,989

7,928

Tax on profit on ordinary activities

3

-

-

PROFIT FOR THE FINANCIAL YEAR

47,989

7,928

FIXED ASSETS

Tangible assets

4

154,530

491

CURRENT ASSETS

Debtors

5

1,268

1,027

Cash at bank

266,739

982,051

268,007

983,078

CREDITORS

Amounts falling due within one year

6

280,046

890,133

NET CURRENT (LIABILITIES)/ASSETS

(12,039

)

92,945

TOTAL ASSETS LESS CURRENT LIABILITIES

142,491

93,436

CREDITORS

Amounts falling due after more than one year

7

329,767

328,701

NET LIABILITIES

(187,276

)

(235,265

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Profit and loss account

9

(187,277

)

(235,266

)

SHAREHOLDERS' FUNDS

(187,276

)

(235,265

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2014 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 27 November 2014 and were signed by:

H A Kazemi - 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 April 2008).

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.

Office equipment

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

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

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	OPERATING PROFIT

The operating profit is stated after charging:

28.2.14

28.2.13

£

£

Depreciation - owned assets

122

429

Foreign exchange differences

24,704

-

Pension costs

1,442

1,688

Director's remuneration and other benefits etc

38,178

28,854

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 28 February 2014 nor for the

year ended 28 February 2013.

4.	TANGIBLE FIXED ASSETS

Freehold

Office

Computer

property

equipment

equipment

Totals

£

£

£

£

COST

At 1 March 2013

-

300

5,951

6,251

Additions

154,161

-

-

154,161

At 28 February 2014

154,161

300

5,951

160,412

DEPRECIATION

At 1 March 2013

-

283

5,477

5,760

Charge for year

-

4

118

122

At 28 February 2014

-

287

5,595

5,882

NET BOOK VALUE

At 28 February 2014

154,161

13

356

154,530

At 28 February 2013

-

17

474

491

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.14

28.2.13

£

£

Other debtors

1,268

1,027

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.14

28.2.13

£

£

Trade creditors

192,448

234,785

Taxation and social security

2,005

1,459

Other creditors

85,593

653,889

280,046

890,133

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.14

28.2.13

£

£

Other creditors

329,767

328,701

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.14

28.2.13

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Profit

and loss

account

£

At 1 March 2013

(235,266

)

Profit for the year

47,989

At 28 February 2014

(187,277

)

10.	RELATED PARTY DISCLOSURES