Registered Number 06508747
CRAYMERE LIMITED
Abbreviated Accounts
31 August 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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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 |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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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 |
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Profit and loss account |
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Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Going concern
The Director believes that the company continues to hold sufficient assets to cover its liabilities as they fall due and to continue trading. The Director is confident that the company will remain profitable in the future, and on that basis the Director considers that the use of the going concern basis in the preparation of the accounts is appropriate.
Turnover policy
Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:
Fixtures & Fittings - 25% Straight Line
Motor Vehicles - 25% Straight Line
Equipment - 25% Straight Line
Other accounting policies
Stocks are valued at the lower of cost and net realisable value, on a first-in-first-out basis, after making due allowance for obsolete and slow moving items.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
Deferred tax is recognised in respect of all material 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.
The only exception is that deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
£ | |
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Cost | |
At 1 September 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 August 2015 |
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Depreciation | |
At 1 September 2014 |
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Charge for the year |
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On disposals |
( |
At 31 August 2015 |
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Net book values | |
At 31 August 2015 | 15,970 |
At 31 August 2014 | 22,529 |