CADWALLADER LIMITED
Company Registration No. 03206300 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
CADWALLADER LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
CADWALLADER LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,610,806
3,338,154
Current assets
Stocks
25,607
65,994
Debtors
902,232
1,193,234
Cash at bank and in hand
785,276
857,073
1,713,115
2,116,301
Creditors: amounts falling due within one year
(803,330)
(932,416)
Net current assets
909,785
1,183,885
Total assets less current liabilities
4,520,591
4,522,039
Creditors: amounts falling due after more than one year
(485,505)
(647,282)
Provisions for liabilities
(222,404)
(208,101)
3,812,682
3,666,656
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
3,812,582
3,666,556
Shareholders' funds
3,812,682
3,666,656
CADWALLADER LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 2016 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 26 January 2017
Mr D R Cadwallader
Mr J M Cadwallader
Director
Director
Company Registration No. 03206300
CADWALLADER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 3 -
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 January 2015).
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 value added tax 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:
Plant and machinery
20% on reducing balance
Fixtures, fittings & equipment
20% on cost
Motor vehicles
25% on reducing balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
CADWALLADER LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015
6,495,780
Additions
1,410,406
Disposals
(788,984)
At 31 May 2016
7,117,202
Depreciation
At 1 June 2015
3,157,626
On disposals
(550,905)
Charge for the year
899,675
At 31 May 2016
3,506,396
Net book value
At 31 May 2016
3,610,806
At 31 May 2015
3,338,154
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100