Cerdic Foundries Limited 00975764 false true 2014-01-01 2014-12-31 2014-12-31 00975764 2014-01-01 2014-12-31 00975764 2014-12-31 00975764 uk-bus:OrdinaryShareClass1 2014-12-31 00975764 uk-bus:Director1 2014-01-01 2014-12-31 00975764 uk-bus:Director2 2014-01-01 2014-12-31 00975764 uk-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 00975764 uk-gaap:MotorVehicles 2014-01-01 2014-12-31 00975764 2013-12-31 00975764 2013-12-31 00975764 uk-bus:OrdinaryShareClass1 2013-12-31 iso4217:GBP xbrli:shares

Registration number: 00975764

Cerdic Foundries Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

 

Cerdic Foundries Limited
Contents

Page

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 5

 

Cerdic Foundries Limited
(Registration number: 00975764)
Abbreviated Balance Sheet at 31 December 2014

 

Note

   

2014
£

   

2013
£

 

Fixed assets

 

   

   

 

Tangible fixed assets

 

   

33,657

   

61,525

 

Current assets

 

   

   

 

Stocks

 

   

105,675

   

80,459

 

Debtors

 

   

1,134,997

   

1,103,032

 

Cash at bank and in hand

 

   

43,001

   

4,066

 

 

   

1,283,673

   

1,187,557

 

Creditors: Amounts falling due within one year

 

3

   

(509,018)

   

(497,094)

 

Net current assets

 

   

774,655

   

690,463

 

Total assets less current liabilities

 

   

808,312

   

751,988

 

Creditors: Amounts falling due after more than one year

 

   

-

   

(15,843)

 

Net assets

 

   

808,312

   

736,145

 

Capital and reserves

 

   

   

 

Called up share capital

 

4

   

336,300

   

336,300

 

Profit and loss account

 

   

472,012

   

399,845

 

Shareholders' funds

 

   

808,312

   

736,145

 
 

Cerdic Foundries Limited
(Registration number: 00975764)
Abbreviated Balance Sheet at 31 December 2014

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 12 May 2015 and signed on its behalf by:






R Milliner
Director






D Taylor
Director

 

Cerdic Foundries Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2014

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods to customers. Turnover is recognised upon despatch of goods.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% Straight line basis

Stock

Stocks of raw materials and finished goods are valued at the lower of cost and net realisable value. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Raw materials are valued at direct cost on a first in first out basis. Finished goods are valued at prime cost plus attributable overheads with due provision for obsolescence. Short-term work in progress is valued at the lower of cost and net realiseable value with cost comprising of direct materials and labour plus production overheads.



Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

 

Cerdic Foundries Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2014

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 January 2014

 

180,788

   

180,788

 

At 31 December 2014

 

180,788

   

180,788

 

Depreciation

           

At 1 January 2014

 

119,263

   

119,263

 

Charge for the year

 

27,868

   

27,868

 

At 31 December 2014

 

147,131

   

147,131

 

Net book value

           

At 31 December 2014

 

33,657

   

33,657

 

At 31 December 2013

 

61,525

   

61,525

 

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

 

2014
£

   

2013
£

 

 

   

 

Amounts falling due within one year

 

15,843

   

17,283

 

Amounts falling due after more than one year

 

-

   

15,843

 

Total secured creditors

 

15,843

   

33,126

 
 

Cerdic Foundries Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2014

4

Share capital

Allotted, called up and fully paid shares

 

2014

2013

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

336,300

   

336,300

   

336,300

   

336,300

 
                         

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