SPW MECHANICAL ENGINEERS LIMITED

SPW MECHANICAL ENGINEERS LIMITED

SPW MECHANICAL ENGINEERS LIMITED - Company Information

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SPW MECHANICAL ENGINEERS LIMITED

Company Registration Number:
06550422 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2018

Period of accounts

Start date: 01 October 2017

End date: 30 September 2018

SPW MECHANICAL ENGINEERS LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2018

Balance sheet
Notes

SPW MECHANICAL ENGINEERS LIMITED

Balance sheet

As at 30 September 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 2 53,258 1,229
Total fixed assets: 53,258 1,229
Current assets
Stocks: 6,153 52,800
Debtors:   149,807 45,314
Cash at bank and in hand: 170 405
Total current assets: 156,130 98,519
Creditors: amounts falling due within one year:   (171,165) (116,669)
Net current assets (liabilities): (15,035) (18,150)
Total assets less current liabilities: 38,223 (16,921)
Provision for liabilities: (10,277) (345)
Total net assets (liabilities): 27,946 (17,266)
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 27,945 (17,267)
Shareholders funds: 27,946 (17,266)

The notes form part of these financial statements

SPW MECHANICAL ENGINEERS LIMITED

Balance sheet statements

For the year ending 30 September 2018 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 May 2019
and signed on behalf of the board by:

Name: B E gnyla
Status: Director

The notes form part of these financial statements

SPW MECHANICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT.Long-term and ongoing contracts: turnover represents the value of work done including estimates of amounts not yet invoiced and is recognised by reference to the stage of completion.

Tangible fixed assets and depreciation policy

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.Motor vehicles 20% reducing balancePlant and machinery 15% reducing balance

Other accounting policies

Going ConcernThe company has a deficit on shareholders' funds and relies upon the support of its shareholders and creditors, which has been confirmed for a period of at least twelve months from the approval of the financial statements.Accordingly the directors have prepared the financial statements on the going concern basis.Deferred taxationDeferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.Pension costsThe company operates a defined contribution pension scheme for employees. The annual contributions payable are charged to the profit and loss account.

SPW MECHANICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2018

2. Tangible Assets

Total
Cost £
At 01 October 2017 3,000
Additions 61,500
At 30 September 2018 64,500
Depreciation
At 01 October 2017 1,771
Charge for year 9,471
At 30 September 2018 11,242
Net book value
At 30 September 2018 53,258
At 30 September 2017 1,229

SPW MECHANICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2018

3. Related party transactions

Name of the related party: B E Gnyla
Relationship:
Director
Description of the Transaction: During the year the company's director has loaned £84,355 to the company.£88,736 (2017 £4,381) is due to the director at the year end and is included in creditors falling due within one year.The director has secured the funds introduced by a debenture.
£
Balance at 01 October 2017 4,381
Balance at 30 September 2018 88,736