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Abbreviated Unaudited Accounts |
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for the Year Ended 30 November 2015 |
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for |
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Calmag Yorkshire Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 30 November 2015 |
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for |
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Calmag Yorkshire Limited |
Calmag Yorkshire Limited (Registered number: 05607855) |
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Contents of the Abbreviated Accounts |
for the Year Ended 30 November 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
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Chartered Accountants' Report | 7 |
Calmag Yorkshire Limited |
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Company Information |
for the Year Ended 30 November 2015 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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Calmag Yorkshire Limited (Registered number: 05607855) |
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Abbreviated Balance Sheet |
30 November 2015 |
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30.11.15 | 30.11.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 3 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
Calmag Yorkshire Limited (Registered number: 05607855) |
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Abbreviated Balance Sheet - continued |
30 November 2015 |
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The financial statements were approved by the Board of Directors on
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Calmag Yorkshire Limited (Registered number: 05607855) |
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Notes to the Abbreviated Accounts |
for the Year Ended 30 November 2015 |
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1. | ACCOUNTING POLICIES |
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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 January 2015). |
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Turnover |
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding |
VAT, |
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Tangible fixed assets |
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Plant & machinery | - |
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Fixtures & fittings | - |
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Motor vehicles | - |
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Office equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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 that result in an obligation to pay more tax in the future, or a right to pay |
less tax in the future have occurred at the balance sheet date. Timing differences are differences between the |
Company's taxable profits and its results as stated in the financial statements. |
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Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing |
differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted |
by the balance sheet date. Deferred tax is measured on a non-discounted basis. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the leases. |
Calmag Yorkshire Limited (Registered number: 05607855) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 30 November 2015 |
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2. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 December 2014 |
and 30 November 2015 |
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DEPRECIATION |
At 1 December 2014 |
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Charge for year |
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At 30 November 2015 |
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NET BOOK VALUE |
At 30 November 2015 |
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At 30 November 2014 |
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3. | CREDITORS |
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Creditors include an amount of £
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.15 | 30.11.14 |
value: | £ | £ |
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Ordinary | £1 |
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Calmag Yorkshire Limited (Registered number: 05607855) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 30 November 2015 |
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5. | RELATED PARTY DISCLOSURES |
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Calmag Limited is a company owned and controlled by two of the directors. Calmag Yorkshire Limited operates |
a loan account with Calmag Limited. |
At the year end the amount due to Calmag Limited is £1,940 (2014 £1,940) and is included in Other creditors. |
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Water Center (Keighley) Limited is a company owned and controlled by two of the directors. In previous years, |
under normal terms of business, the company entered into various transactions with Water Center (Keighley) |
Limited. |
At the year end the amount due from Water Center (Keighley) Limited is £7,669 (2014 £7,669) and is included |
in Trade debtors. |
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On 31 August 2008, C Wysocki, director and shareholder, acquired 14% of the share capital of Wessex |
Manufacturing Limited. Calmag Yorkshire Limited is being invoiced monthly by Wessex Manufacturing Limited |
for factory support which entitles the company to acquire goods at a discounted price. |
The transactions are summarised as follows: |
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2015 | 2014 |
£ | £ |
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Goods and services received | 157,997 | 164,627 |
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At the year end the amount due to Wessex Manufacturing Limited is £22,505 (2014 £41,088) and is included in |
Trade creditors. |
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Two directors received dividends from the company during the year amounting to £106,875 each (2014 £ |
57,500 each). |
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6. | CONTROL RELATIONSHIPS |
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C Wysocki and A Wysocki, directors and shareholders, are considered to be the controlling party. |
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7. | PROPOSED DIVIDEND |
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On 27 April 2016 2015 a final dividend of £56,250 was proposed and paid. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Calmag Yorkshire Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have |
been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Calmag Yorkshire Limited for the year ended 30 November 2015 which comprise the Profit and |
Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of Calmag Yorkshire Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Calmag Yorkshire Limited and state those matters that we have agreed to state to the Board of Directors of Calmag Yorkshire Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Calmag Yorkshire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Calmag Yorkshire Limited. You consider that Calmag Yorkshire Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Calmag Yorkshire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
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27 April 2016 |