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CHAMPION PROCESS LIMITED




Company Registration Number:
07039277 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 13th October 2009

End date: 28th February 2010

SUBMITTED

CHAMPION PROCESS LIMITED

Company Information
for the Period Ended
28th February 2010




Director: Hugh B Champion
Judith E Champion
Registered office: WISTERIA WORKS 2, Brimbleworth Lane
St Georges
Weston Super Mare
Somerset
BS22 7XS
GBR
Company Registration Number: 07039277 (England and Wales)

CHAMPION PROCESS LIMITED

Abbreviated Balance sheet
As at 28th February 2010

Notes 2010
£

£
Fixed assets
Intangible assets: 0 -
Tangible assets: 5 23,650 -
Total fixed assets: 23,650 -
Current assets
Stocks: 23,906 -
Debtors: 7 128,862 -
Cash at bank and in hand: 70,670 -
Total current assets: 223,438 -
Creditors
Creditors: amounts falling due within one year 8 211,958 -
Net current assets (liabilities): 11,480 -
Total assets less current liabilities: 35,130 -
Creditors: amounts falling due after more than one year: 0 -
Provision for liabilities: 10 3,655
Total net assets (liabilities): 31,475 -

The notes form part of these financial statements

CHAMPION PROCESS LIMITED

Abbreviated Balance sheet
As at 28th February 2010
continued

Notes 2010
£

£
Capital and reserves
Called up share capital: 11 100 -
Revaluation reserve: 0 -
Profit and Loss account: 31,375 -
Total shareholders funds: 31,475 -

For the year ending 28 February 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 16 November 2010

SIGNED ON BEHALF OF THE BOARD BY:

Name: Hugh B Champion
Status: Director

The notes form part of these financial statements

CHAMPION PROCESS LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
28th February 2010

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The directors have prepared the financial statements under the historical cost convention in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008)

    Turnover policy

    Turnover represents the net invoiced sales of goods, excluding value added tax.

    Tangible fixed assets depreciation policy

    Depreciation of Plant and Machinery is provided at an annual rate of 20% in order to write off the assets over their estimated useful life.

    Valuation information and policy

    Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

    Other accounting policies

    The company operates a defined contribution pension scheme for which contributions are charged to the Profit and Loss account in the year in which they become payable.

  • 5. Tangible assets

    Total
    Cost £
    At 13th October 2009: 0
    Additions: 25,800
    At 28th February 2010: 25,800
    Depreciation
    At 13th October 2009: 0
    Charge for year: 2,150
    At 28th February 2010: 2,150
    Net book value
    At 28th February 2010: 23,650

  • 7. Debtors

    2010
    £

    £
    Trade debtors: 119,213 -
    Prepayments and accrued income: 9,649 -
    Total: 128,862 -

  • 8. Creditors: amounts falling due within one year

    2010
    £

    £
    Trade creditors: 19,126 -
    Taxation and social security: 22,978 -
    Accruals and deferred income: 19,854 -
    Other creditors: 150,000 -
    Total: 211,958 -

  • 11. Called up share capital

    Allotted, called up and paid

    Current period 2010
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1 100
    Total share capital: 100
  • 13. Related party disclosures

    Name of the ultimate controlling party during the period: Champion Process Ltd
    Name of related party: Champion Processes Ltd
    Relationship: Associated Company
    Description of the transaction: Purchases
    Balance at 13th October 2009 0
    Balance at 28th February 2010 0

    During the period the company made purchases from Champion Processes Ltd. Mr H.B. Champion, a director of Champion Process Ltd, was also a director of Champion Processes Ltd and hence the two companies are related. The total value of purchases from Champion Processes Ltd during the accounting period was £59,900. All transactions were at arms length values and on normal commercial terms.

  • 14 . Transactions with directors

    The company paid rent of £1875 to Mr H.B.Champion, a director of Champion Process Ltd, as part-owner of the property at Wisteria Works. The transaction was at arms length on normal commercial terms.