SPW TRAFFIC CONTROL LIMITED

SPW TRAFFIC CONTROL LIMITED

SPW TRAFFIC CONTROL LIMITED - Company Information

Print Friendly Version

SPW TRAFFIC CONTROL LIMITED

Company Registration Number:
01554163 (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 TRAFFIC CONTROL LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2018

Balance sheet
Notes

SPW TRAFFIC CONTROL LIMITED

Balance sheet

As at 30 September 2018


Notes
2018
2017


£
£
Fixed assets
Intangible assets: 2 53,201 73,796
Tangible assets: 3 6,332 10,121
Total fixed assets: 59,533 83,917
Current assets
Stocks: 19,304 21,810
Debtors:   28,099 23,535
Cash at bank and in hand: 1,635 11,978
Total current assets: 49,038 57,323
Creditors: amounts falling due within one year:   (285,110) (249,524)
Net current assets (liabilities): (236,072) (192,201)
Total assets less current liabilities: (176,539) (108,284)
Provision for liabilities: (9,814) (9,814)
Total net assets (liabilities): (186,353) (118,098)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (186,453) (118,198)
Shareholders funds: (186,353) (118,098)

The notes form part of these financial statements

SPW TRAFFIC CONTROL 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 TRAFFIC CONTROL 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.Fixtures and fittings 33% straight lineOffice equipment 33% straight lineMotor vehicles 20% reducing balancePlant and machinery 15% reducing balance

Intangible fixed assets and amortisation policy

Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstance indicate that the carrying value of an asset may not be fully recoverable.

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.StocksStocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.Deferred taxationDeferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.Research and DevelopmentExpenditure on research and development is written off in the year in which it is incurred.

SPW TRAFFIC CONTROL LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2018

2. Intangible Assets

Total
Cost £
At 01 October 2017 411,897
At 30 September 2018 411,897
Amortisation
At 01 October 2017 338,101
Charge for year 20,595
At 30 September 2018 358,696
Net book value
At 30 September 2018 53,201
At 30 September 2017 73,796

SPW TRAFFIC CONTROL LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2018

3. Tangible Assets

Total
Cost £
At 01 October 2017 56,834
At 30 September 2018 56,834
Depreciation
At 01 October 2017 46,713
Charge for year 3,789
At 30 September 2018 50,502
Net book value
At 30 September 2018 6,332
At 30 September 2017 10,121

SPW TRAFFIC CONTROL LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2018

4. Related party transactions

Name of the related party: B E Gnyla
Relationship:
Director
Description of the Transaction: During the year the company's director was repaid £17,769 by the company.£0 (2017 £17,769) 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 since 10 August 2009 by a debenture.
£
Balance at 01 October 2017 17,769
Balance at 30 September 2018 0