Shipping Container Consultants Ltd Accounts

SHIPPING CONTAINER CONSULTANTS LTD - Company Information






Shipping Container Consultants Ltd

	Company No. 10100667
		Information for Filing with The Registrar
		31 March 2019

at	31 March 2019
Company No.		10100667	Notes	2019	2018
				£	£
Fixed assets

	Tangible assets		3	14,322	5,708


				14,322	5,708
Current assets
	Stocks		4	150,195	99,550
	Debtors		5	265,266	180,894

	Cash at bank and in hand			299,499	73,986
				714,960	354,430
Creditors: Amount falling due within one year			6	(673,688)	(347,457)
Net current assets				41,272	6,973
Total assets less current liabilities				55,594	12,681




Net assets				55,594	12,681

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		7	55,494	12,581

Total equity				55,594	12,681



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 March 2019 the company was entitled to exemption from audit 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 17 September 2019
And signed on its behalf by:
C.E. Camp
Director

for the year ended 31 March 2019

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The accounts are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

25% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Employees
			2019	2018
			Number	Number
		The average number of persons employed during the year :	2	1

3	Tangible fixed assets
			Plant and machinery	Total
			£	£
		Cost or revaluation
		At 1 April 2018	7,786	7,786
		Additions	16,595	16,595


		Disposals	(4,035)	(4,035)
		At 31 March 2019	20,346	20,346
		Depreciation
		At 1 April 2018	2,078	2,078
		Charge for the year	5,086	5,086


		Disposals	(1,140)	(1,140)
		At 31 March 2019	6,024	6,024
		Net book values
		At 31 March 2019	14,322	14,322
		At 31 March 2018	5,708	5,708

4	Stocks
			2019	2018
			£	£


		Finished goods	150,195	99,550
			150,195	99,550

5	Debtors
			2019	2018
			£	£
		Trade debtors	262,266	180,894





		Other debtors	3,000	-

			265,266	180,894

6	Creditors:
		amounts falling due within one year
			2019	2018
			£	£




		Trade creditors	523,023	219,524

		Corporation tax	9,102	3,964
		Other taxes and social security	101,594	46,905
		Loans from directors	39,968	11,903

		Accruals and deferred income	1	65,161
			673,688	347,457

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

8	Dividends
			2019	2018
			£	£
		Dividends for the period:
		Dividends paid in the period	4,000	10,000

			4,000	10,000

		Dividends by type:

		Equity dividends	4,000	10,000
			4,000	10,000

Additional information

Its registered number is:

10100667

Its registered office is:

Its trading address is:

Hill Barn

Bury Road

Hitcham

Ipswich

IP7 7PT