Registered Number 03771701
C. R. HOLLANDS INDUSTRIAL SUPPLIES LIMITED
Abbreviated Accounts
31 July 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Investments | 4 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 5 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 5 |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 6 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Land and Buildings - straight line over 50 years
Fixtures, fittings and equipment - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer Equipment – 25% straight line
Tangible fixed assets are stated at cost less accumulated depreciation.
Intangible assets amortisation policy
Goodwill is written off in equal instalments over its useful economic life of 20 years. Goodwill purchased during the year is written off in equal instalments over its useful economic life of 10 years.
Patents
Patents are valued at cost less accumulated amortisation.
Other accounting policies
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 constant periodic rates of charge on the net obligations outstanding in each period.
Stock
Stock is valued at the lower of cost and net realisable value.
Net realisable value is based on estimated selling price less any further costs expected to be incurred to completion and disposal.
Pensions
The pension costs charged in the financial statements represent the contribution payable by the company during the year.
Deferred Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax.
Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the periods in which timing differences reverse, based upon tax rates and laws enacted or substantially enacted at the balance sheet date.
Fixed Asset investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.
Group Accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.
Foreign Currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the profit and loss account.
£ | |
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Cost | |
At 1 August 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 July 2016 |
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Amortisation | |
At 1 August 2015 |
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Charge for the year |
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On disposals |
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At 31 July 2016 |
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Net book values | |
At 31 July 2016 | 152,709 |
At 31 July 2015 | 80,209 |
£ | |
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Cost | |
At 1 August 2015 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 July 2016 |
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Depreciation | |
At 1 August 2015 |
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Charge for the year |
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On disposals |
( |
At 31 July 2016 |
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Net book values | |
At 31 July 2016 | 665,451 |
At 31 July 2015 | 652,987 |
4
Fixed assets Investments
Company - Kerswell Tooling Services Ltd
Country of incorporation - England
Nature of business - Tooling Engineers
100% of ordinary shares held
Capital and reserves - £198,832
Profit for the year - £29,239
2016
£ |
2015
£ |
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Secured Debts |
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