Anglia Cathodic Protection Services Limited Filleted accounts for Companies House (small and micro)

ANGLIA CATHODIC PROTECTION SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03388332

Anglia Cathodic Protection Services Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2019

Anglia Cathodic Protection Services Limited

Statement of Financial Position

31 March 2019

	2019		2018
Note	£	£	£	£

Fixed assets

Tangible assets	5		384,908		402,526

Current assets

Stocks		61,520	73,000
Debtors	6	3,759,525	2,103,473
Cash at bank and in hand		1,534,298	780,993
		------------	------------
		5,355,343	2,957,466

Creditors: amounts falling due within one year	7	1,214,649		666,441
		------------		------------
Net current assets			4,140,694		2,291,025
			------------		------------
Total assets less current liabilities			4,525,602		2,693,551

Provisions

Taxation including deferred tax	43,464	45,264
	------------	------------
Net assets	4,482,138	2,648,287
	------------	------------

Capital and reserves

Called up share capital	202	202
Profit and loss account	4,481,936	2,648,085
	------------	------------
Shareholders funds	4,482,138	2,648,287
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Anglia Cathodic Protection Services Limited

Statement of Financial Position (continued)

31 March 2019

These financial statements were approved by the board of directors and authorised for issue on 17 December 2019 , and are signed on behalf of the board by:

Mr R E Bailey

Director

Company registration number: 03388332

Anglia Cathodic Protection Services Limited

Notes to the Financial Statements

Year ended 31 March 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Meadow View Industrial Estate, Reach Road, Burwell, Cambridge, CB25 0GH, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Turnover in respect of amounts recoverable on contract and ongoing services has been recognised with reference to the stage of completion.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible fixed assets other than freehold land are stated at cost less depreciation.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Leasehold property	-	15% reducing balance
Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 21 (2018: 19 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2018	138,136	241,311	251,729	45,336	676,512
Additions	–	29,951	38,500	9,935	78,386
Disposals	–	–	( 6,000)	–	( 6,000)
	---------	---------	---------	--------	---------
At 31 March 2019	138,136	271,262	284,229	55,271	748,898
	---------	---------	---------	--------	---------
Depreciation
At 1 April 2018	25,239	122,047	110,660	16,040	273,986
Charge for the year	4,702	36,144	42,809	11,549	95,204
Disposals	–	–	( 5,200)	–	( 5,200)
	---------	---------	---------	--------	---------
At 31 March 2019	29,941	158,191	148,269	27,589	363,990
	---------	---------	---------	--------	---------
Carrying amount
At 31 March 2019	108,195	113,071	135,960	27,682	384,908
	---------	---------	---------	--------	---------
At 31 March 2018	112,897	119,264	141,069	29,296	402,526
	---------	---------	---------	--------	---------

6. Debtors

	2019	2018
	£	£
Trade debtors	2,174,368	1,135,666
Other debtors	1,585,157	967,807
	------------	------------
	3,759,525	2,103,473
	------------	------------

Included within trade debtors is £76,587 (2018: £122,566) in respect of amounts recoverable on contract.

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	303,575	194,750
Social security and other taxes	790,810	299,286
Other creditors	120,264	172,405
	------------	---------
	1,214,649	666,441
	------------	---------

8. Other financial commitments

The total financial commitments, guarantees and contingencies not included in the statement of financial position is £ 10,100 (2018: £ 23,750 ).

9. Related party transactions

During the year the company operated a loan account for Anglia Cables and Parts Limited, a company under common ownership. At the balance sheet date the company was due £1,145,549 (2018: £524,889) from Anglia Cables and Parts Limited. This balance is interest free and repayable on demand. During a previous year the company paid expenses for Anglia Cathodic Holding Limited, a company under common ownership. At the balance sheet date the company was due £400,103 (2018: £400,103) from Anglia Cathodic Holding Limited. This balance is interest free and repayable on demand.