Company Registration No. 4221690 (England and Wales)
CTS (LONDON) LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
CTS (LONDON) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
CTS (LONDON) LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
462
929
Tangible assets
2
1,609
1,524
2,071
2,453
Current assets
Stocks
5,301
5,101
Debtors
3,794
3,388
Cash at bank and in hand
9,051
6,152
18,146
14,641
Creditors: amounts falling due within one year
(18,806)
(12,119)
Net current (liabilities)/assets
(660)
2,522
Total assets less current liabilities
1,411
4,975
Provisions for liabilities
(229)
(191)
1,182
4,784
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
1,082
4,684
Shareholders' funds
1,182
4,784
CTS (LONDON) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 31 July 2015
Thomas Michael Pearce
Director
Company Registration No. 4221690
CTS (LONDON) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
- 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 April 2008).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
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
10% Straight line
Fixtures, fittings & equipment
10% Straight line
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation 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.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 June 2014
7,000
6,616
13,616
Additions
-
400
400
At 31 May 2015
7,000
7,016
14,016
Depreciation
At 1 June 2014
6,071
5,092
11,163
Charge for the year
467
315
782
At 31 May 2015
6,538
5,407
11,945
Net book value
At 31 May 2015
462
1,609
2,071
At 31 May 2014
929
1,524
2,453
CTS (LONDON) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2015
- 4 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100