Controls Testing Equipment Limited - Accounts to registrar (filleted) - small 18.2
Controls Testing Equipment Limited - Accounts to registrar (filleted) - small 18.2
Financial Statements for the Year Ended 31 December 2018 |
for |
Controls Testing Equipment Limited |
Controls Testing Equipment Limited (Registered number: 01753477) |
Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Controls Testing Equipment Limited |
Company Information |
for the Year Ended 31 December 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Controls Testing Equipment Limited (Registered number: 01753477) |
Statement of Financial Position |
31 December 2018 |
31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on behalf by: |
Controls Testing Equipment Limited (Registered number: 01753477) |
Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
1. | STATUTORY INFORMATION |
Controls Testing Equipment Limited is a |
and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
Cost is measured using the weighted average cost method. Net realisable value is the estimated |
proceeds from the sale of stock items less costs incurred in marketing, selling and distributing directly |
related to the items in question. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
Controls Testing Equipment Limited (Registered number: 01753477) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
2. | ACCOUNTING POLICIES - continued |
Leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2018 |
Additions |
At 31 December 2018 |
DEPRECIATION |
At 1 January 2018 |
Charge for year |
At 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 December 2017 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
PROVISIONS |
At 1 January 2018 |
and 31 December 2018 | 60,001 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 December 2017 |
The company owns 100% of the 110,000 ordinary £1 shares of Wykeham Farrance Limited, a |
company registered in England and Wales. The company was dormant throughout the year. The |
aggregate of the company's share capital and reserves as at 31 December 2018 was £nil . |
Controls Testing Equipment Limited (Registered number: 01753477) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Payments on account |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | GUARANTEES AND OTHER FINANCIAL COMMITMENTS |
The company had total guarantees and commitments at the year end of £184,622 (2017: £184,069). |
In return for one of the company's banks providing certain facilities to the company, the company has |
granted the bank a fixed and floating charge over all of its property. |
10. | RELATED PARTY DISCLOSURES |
The company is the wholly owned subsidiary of Controls S.p.A, a company incorporated in Italy. Its |
registered office address is: Via Salvo D'Acquisto 2, 20060 Liscate, Milan, Italy. |
11. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and |
submit returns to the tax authorities and assist with the preparation of the financial statements. |
In common with many other businesses of our size and nature we use our auditors to provide tax |
advice and to represent us, as necessary, at tax tribunals. |