3_CORE_ELECTRICAL_LIMITED - Accounts


Company Registration No. 07312465 (England and Wales)
3 CORE ELECTRICAL LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2014
3 CORE ELECTRICAL LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
3 CORE ELECTRICAL LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2014
31 March 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,795
1,555
Current assets
Stocks
5,543
1,511
Debtors
2,072
3,758
Cash at bank and in hand
2,208
3,631
9,823
8,900
Creditors: amounts falling due within one year
(5,827)
(4,145)
Net current assets
3,996
4,755
Total assets less current liabilities
5,791
6,310
Provisions for liabilities
(285)
-
0
5,506
6,310
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
5,406
6,210
Shareholders' funds
5,506
6,310
For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 18 December 2014
I.P. Opelt
E.L. Tennant
Director
Director
Company Registration No. 07312465
3 CORE ELECTRICAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Tools and equipment
- 15% Reducing Balance
Computer equipment
- 25% Straight Line
1.5

Stock

Stock and work in progress are valued at the lower of cost and net realisable value.

2
Fixed assets
Tangible assets
£
Cost
At 1 April 2013
3,441
Additions
503
At 31 March 2014
3,944
Depreciation
At 1 April 2013
1,886
Charge for the year
263
At 31 March 2014
2,149
Net book value
At 31 March 2014
1,795
At 31 March 2013
1,555
3 CORE ELECTRICAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2014
- 3 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100Ordinary shares of £1 each
100
100
4
Transactions with directors
The following directors had interest free loans during the year. The movement on these loans are as follows:
Amount outstanding
Maximum
2014
2013
in year
£
£
£
I.P. Opelt
-
-
3,730

£3,730 was advanced to the director, I.P. Opelt and was repaid during the year. These amounts are unsecured, interest free and repayable on demand.

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