Company Registration No. 07289680 (England and Wales)
CRADLEY ENTERPRISE CENTRE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
CRADLEY ENTERPRISE CENTRE LIMITED
CONTENTS
PAGE
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
CRADLEY ENTERPRISE CENTRE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
FIXED ASSETS
Tangible assets
2
1,220,760
806,924
CURRENT ASSETS
Debtors
3
4,038
2,643
Cash at bank and in hand
134,975
620,789
139,013
623,432
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
(51,419)
(94,002)
NET CURRENT ASSETS
87,594
529,430
TOTAL ASSETS LESS CURRENT LIABILITIES
1,308,354
1,336,354
ACCRUALS AND DEFERRED INCOME
(10,000)
(15,000)
1,298,354
1,321,354
CAPITAL AND RESERVES
Called up share capital
4
722
722
Other reserves
785
785
Profit and loss account
1,296,847
1,319,847
SHAREHOLDERS' FUNDS
1,298,354
1,321,354
CRADLEY ENTERPRISE CENTRE LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2016
30 September 2016
- 2 -
For the financial year ended 30 September 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 16 February 2017
Mr M J P McCarron
DIRECTOR
COMPANY REGISTRATION NO. 07289680
CRADLEY ENTERPRISE CENTRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 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 rental income, excluding value added tax.
rental income, excluding value added tax.
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 cost
Fixtures, fittings & equipment
20% on cost
1.5
GOVERNMENT GRANTS
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
1.6
CONSOLIDATED FINANCIAL STATEMENTS
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
CRADLEY ENTERPRISE CENTRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 4 -
2
FIXED ASSETS
Tangible assets
£
COST
At 1 October 2015
819,380
Additions
419,730
At 30 September 2016
1,239,110
DEPRECIATION
At 1 October 2015
12,457
Charge for the year
5,893
At 30 September 2016
18,350
NET BOOK VALUE
At 30 September 2016
1,220,760
At 30 September 2015
806,924
3
DEBTORS
Debtors include an amount of £400 (2015 - £1,000) which is due after more than one year.
4
SHARE CAPITAL
2016
2015
£
£
ALLOTTED, CALLED UP AND FULLY PAID
3,610 Ordinary of 20p each
722
722
5
ULTIMATE PARENT COMPANY
The
company is controlled by Mr M J P McCarron.
ULTIMATE CONTROLLING PARTY
The company is a subsidiary of McCarron Enterprises Limited, a company incorporated in England.