South Wales Contractors Limited - Accounts to registrar (filleted) - small 18.2
South Wales Contractors Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
FOR |
SOUTH WALES CONTRACTORS LIMITED |
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SOUTH WALES CONTRACTORS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2019 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1st Floor.. |
Nathaniel House |
David Street |
Bridgend |
South Wales |
CF31 3SA |
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365) |
BALANCE SHEET |
31 MARCH 2019 |
31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Investments | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365) |
BALANCE SHEET - continued |
31 MARCH 2019 |
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 |
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
1. | STATUTORY INFORMATION |
South Wales Contractors Limited is a |
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. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing |
stocks to their present location and condition. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
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. |
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
2. | ACCOUNTING POLICIES - continued |
Employer financed retirement benefit scheme |
Previously the Company had established an employer financed retirement benefit scheme (The Scheme) for the benefit |
of its officers, employees and their wider families. The Scheme consisted of 2 employee benefit trusts called The South |
Wales Contractors Ltd Employer Financed Retirement Benefit Scheme No 1 and The South Wales Contractors Ltd |
Employer Financed Benefit Scheme No 2. |
In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment arrangements" the |
Company does not include the assets and liabilities of The Scheme on its balance sheet to the extent that it considers |
that it will not retain any economic benefit from the assets of The Scheme and will not have control of the rights or |
other access to those present economic benefits. |
Monk close llp |
The share of profit or loss from the Monk Close LLP for its accounting period ending within the accounting period of |
the company is included in the accounts of that period of the company. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
The Goodwill represents the value of the business of South Wales Construction acquired from the directors in June |
2007 and has now been fully amortised. |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2018 |
Additions |
Disposals | ( |
) |
At 31 March 2019 |
DEPRECIATION |
At 1 April 2018 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2019 |
NET BOOK VALUE |
At 31 March 2019 |
At 31 March 2018 |
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
6. | FIXED ASSET INVESTMENTS |
Interest |
in other |
participating |
interests |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 | 17,000 |
PROVISIONS |
At 1 April 2018 |
and 31 March 2019 | 16,999 |
NET BOOK VALUE |
At 31 March 2019 | 1 |
At 31 March 2018 | 1 |
During the year ended 31st March 2012 the company became a corporate member of Dean Street Productions No.16 |
LLP. An amount of £17,000 was invested. The company's directors have taken advice and acting on that advice it has |
been decided that the investment be written down to £1 at the current time. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade debtors |
Other debtors |
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
8. | CURRENT ASSET INVESTMENTS |
31.3.19 | 31.3.18 |
£ | £ |
Other |
Partnership net current assets comprise of the following:- |
31/3/19 | 31/3/18 |
£ | £ |
Stocks | 8,677 | 9,355 |
Debtors | 988 | 1,348 |
Cash at bank | 324 | 1,403 |
9,989 | 12,106 |
Less: Creditors | (11 | ) | (11 | ) |
Net current assets | 9.978 | 12,095 |
Investments in subsidiary, associates and jointly controlled entities are included at fair value. The share of profit or loss |
from the Monk Close LLP for its accounting period ending within the accounting period of the company is included in |
the accounts of that period of the company as a value adjustment. |
The directors consider that, in order to show a true and fair view, the company's value adjustments to current asset |
investments are equivalent to its share of the results of the Monk Close LLP, which should be accounted for as such in |
the Income Statement and its share of net assets should be shown within current assets on the balance sheet. These |
accounts have been prepared on that basis. |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |