REGISTERED NUMBER:
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JAMES YEO CABINET MAKERS LTD |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 OCTOBER 2016 |
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REGISTERED NUMBER:
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JAMES YEO CABINET MAKERS LTD |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 OCTOBER 2016 |
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JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 OCTOBER 2016 |
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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 |
JAMES YEO CABINET MAKERS LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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T/A Maynard Johns |
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JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
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ABBREVIATED BALANCE SHEET |
31 OCTOBER 2016 |
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2016 | 2015 |
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 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
( |
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( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his 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. |
JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
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ABBREVIATED BALANCE SHEET - continued |
31 OCTOBER 2016 |
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The financial statements were approved by the director on
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JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 OCTOBER 2016 |
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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 net invoiced sales of goods, excluding value added tax, except in respect of service contracts |
where turnover is recognised when the company obtains the right to consideration. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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 |
The charge for taxation takes into account taxation deferred as a result of timing differences between the |
treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in |
respect of all timing differences that have originated but not reversed at the balance sheet date. However, |
deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that |
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred |
taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing |
differences are expected to reverse, based on the tax rates and laws that have been enacted by the balance sheet |
date. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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Going concern |
These financial statements have been prepared on a going concern basis as the director has agreed to provide |
ongoing financial support via his director's loan account. |
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The director has assessed the company's financial position as well as considered the future sales expectation. He |
has concluded that the company will still be able to trade for at least the next eighteen months. He, therefore, |
considers it correct to continue to adopt the going concern basis of accounting. |
JAMES YEO CABINET MAKERS LTD (REGISTERED NUMBER: 07815856) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 November 2015 |
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Additions |
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Disposals | ( |
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At 31 October 2016 |
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DEPRECIATION |
At 1 November 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 October 2016 |
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NET BOOK VALUE |
At 31 October 2016 |
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At 31 October 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary Shares | £1 |
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4. | GOING CONCERN |
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These financial statements have been prepared on a going concern basis as the director has agreed to provide |
ongoing financial support via his director's loan account. |
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The director has assessed the company's financial position as well as considered the future sales expectation. He |
has concluded that the company will still be able to trade for at least the next eighteen months. He, therefore, |
considers it correct to continue to adopt the going concern basis of accounting. |