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CTS (TRADING) LIMITED




Company Registration Number:
06250348 (England and Wales)



Report of the Directors and Unaudited Financial Statements



Period of accounts


Start date: 01st June 2009

End date: 31st May 2010

SUBMITTED

CTS (TRADING) LIMITED

Contents of the Financial Statements
for the Period Ended
31st May 2010

Company Information
Report of the Directors
Profit and Loss Account
Balance sheet
Notes to the Financial Statements

CTS (TRADING) LIMITED

Company Information
for the Period Ended
31st May 2010




Director: MR M SEDANI
Company secretary: MRS R SEDANI
Registered office: HOLLYMEADE Clydesdale Road
Braintree
Essex
CM7 2NX
Company Registration Number: 06250348 (England and Wales)

CTS (TRADING) LIMITED

Directors’ Report Period Ended 31st May 2010

The directors present their report with the financial statements of the company for the period ended 31st May 2010

Principal activities
The principal activity of the company in the period under review was:
GENERAL RETAIL STORE

Directors
The directors shown below have held office during the whole of the period from
01st June 2009 to 31st May 2010
MR M SEDANI

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 27 October 2010
And Signed On Behalf Of The Board By:

Name: MR M SEDANI
Status: Director

CTS (TRADING) LIMITED

Profit and Loss Account

for the Period Ended 31st May 2010

Notes 2010
£
2009
£
Turnover: 2 1,289,249 1,261,725
Cost of sales: 982,657 960,273
Gross profit or (loss): 306,592 301,452
Administrative expenses: , 3 201,709 202,742
Other operating income: 20,793 23,477
Operating profit or (loss): 125,676 122,187
Interest payable and similar charges: 4,720 16,967
Profit or (loss) on ordinary activities before taxation: 120,956 105,220
Tax on profit or loss on ordinary activities: 4 24,719 21,066
Profit or (loss) for the financial year: 96,237 84,154

The notes form part of these financial statements

CTS (TRADING) LIMITED

Statement of total recognised gains and losses
31st May 2010

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report.

CTS (TRADING) LIMITED

Balance sheet
As at 31st May 2010

Notes 2010
£
2009
£
Fixed assets
Intangible assets: 5 155,000 155,000
Tangible assets: 6 141,574 149,822
Total fixed assets: 296,574 304,822
Current assets
Stocks: 38,204 52,000
Debtors: 7 8,877 965
Cash at bank and in hand: 118,837 108,911
Total current assets: 165,918 161,876
Creditors
Creditors: amounts falling due within one year 8 164,528 197,634
Net current assets (liabilities): 1,390 ( 35,758 )
Total assets less current liabilities: 297,964 269,064
Creditors: amounts falling due after more than one year: 9 177,483 184,820
Total net assets (liabilities): 120,481 84,244

The notes form part of these financial statements

CTS (TRADING) LIMITED

Balance sheet
As at 31st May 2010
continued

Notes 2010
£
2009
£
Capital and reserves
Called up share capital: 10 90 90
Profit and Loss account: 11 120,391 84,154
Total shareholders funds: 120,481 84,244

For the year ending 31 May 2010 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 27 October 2010

SIGNED ON BEHALF OF THE BOARD BY:

Name: MR M SEDANI
Status: Director

The notes form part of these financial statements

CTS (TRADING) LIMITED

Notes to the Financial Statements
for the Period Ended
31st May 2010

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    THE FINANCIAL STATEMENTS ARE PREPARED UNDER THE HISTORICAL COST CONVENTION

    Turnover policy

    TURNOVER REPRESENTS THE INVOICED AMOUNT OF GOODS AND SERVICES SOLD, NET OF VALUE ADDED TAX

    Tangible fixed assets depreciation policy

    FIXED ASSETS ARE DEPRECIATED AT 15% ON A REDUCING BALANCE METHOD

  • 2 . Turnover

    TURNOVER REPRESENTS THE INVOICED AMOUNT OF GOODS AND SERVICES SOLD NET OF VALUE ADDED TAX

  • 3. Employees

    2010 2009
    £ £
    Wages and salaries: 92,176 82,787
    Social security costs: 3,199 2,583
    Total staff costs: 95,375 85,370
    Average number of employees including directors during the period: 16 16

  • 4. Taxation

    The tax charge on the profit on ordinary activities for the period was as follows:
    2010 2009
    £ £
    UK Corporation Tax: 24,719 21,066
    Tax on profit or (loss) on ordinary activities: 24,719 21,066
    Profit or (loss) on ordinary activities before taxation: 120,956 105,220
    Profit or (loss) on ordinary activities before taxation multiplied by the standard rate of Corporation Tax: 33,868 29,462
    Current tax charge or (credit): 33,868 29,462

  • 5. Intangible assets

    Goodwill Other Total
    Cost £ £ £
    At 01st June 2009: 155,000 - 155,000
    At 31st May 2010: 155,000 - 155,000
    Amortisation £ £ £
    At 01st June 2009: 0 - 0
    At 31st May 2010: 0 - 0
    Net book value £ £ £
    At 31st May 2010: 155,000 - 155,000
    At 31st May 2009: 155,000 - 155,000

  • 6. Tangible assets

    Land and buildings Plant Machinery Fixtures and fittings Office Equipment Motor vehicles Total
    Cost £ £ £ £ £ £
    At 01st June 2009: - - 169,673 - - 169,673
    Additions: - - 2,035 - - 2,035
    At 31st May 2010: - - 171,708 - - 171,708
    Depreciation
    At 01st June 2009: - - 19,851 - - 19,851
    Charge for year: - - 10,283 - - 10,283
    At 31st May 2010: - - 30,134 - - 30,134
    Net book value
    At 31st May 2010: - - 141,574 - - 141,574
    At 31st May 2009: - - 149,822 - - 149,822

  • 7. Debtors

    2010 2009
    £ £
    Trade debtors: 7,912 0
    Other debtors: 965 965
    Total: 8,877 965

  • 8. Creditors: amounts falling due within one year

    2010 2009
    £ £
    Bank loans and overdrafts: 10,000 10,000
    Trade creditors: 51,269 73,498
    Taxation and social security: 29,294 25,951
    Accruals and deferred income: 3,880 3,000
    Other creditors: 70,085 85,185
    Total: 164,528 197,634

  • 9. Creditors: amounts falling due after more than one year

    2010 2009
    £ £
    Bank loans: 177,483 184,820
    Total: 177,483 184,820

  • 10. Called up share capital

    Allotted, called up and paid

    Previous period 2009
    Class Number of shares Nominal value per share Total
    Ordinary shares: 90 1 90
    Total share capital: 90
    Current period 2010
    Class Number of shares Nominal value per share Total
    Ordinary shares: 90 1 90
    Total share capital: 90

    ORDINARY SHARES OF £1 EACH, UNPAID

  • 11. Profit and loss account

    2010 2009
    £ £
    At 01st June 2008: 84,154 0
    Profit or (loss) for the period: 96,237 84,154
    Equity dividends paid: 60,000 0
    Retained profit at 31st May 2010: 120,391 84,154