Cura Technical Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02853954 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Cura Technical Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D Williams

R M J Baizley

S Edgar

REGISTERED OFFICE:

34 Hornsby Square

Southfields Business Park

Basildon

Essex

SS15 6SD

REGISTERED NUMBER:

02853954 (England and Wales)

ACCOUNTANTS:

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

FIXED ASSETS

Intangible assets

5

342,229

308,213

Tangible assets

6

140,705

118,919

Investments

7

10,000

10,000

492,934

437,132

CURRENT ASSETS

Stocks

1,191,769

1,096,059

Debtors

8

1,110,910

835,762

Cash at bank

400

14,819

2,303,079

1,946,640

CREDITORS

Amounts falling due within one year

9

1,753,437

1,276,890

NET CURRENT ASSETS

549,642

669,750

TOTAL ASSETS LESS CURRENT LIABILITIES

1,042,576

1,106,882

CREDITORS

Amounts falling due after more than one year

10

398,798

412,166

NET ASSETS

643,778

694,716

CAPITAL AND RESERVES

Called up share capital

11

494,464

542,502

Retained earnings

149,314

152,214

SHAREHOLDERS' FUNDS

643,778

694,716

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 19 December 2019 and were signed on its behalf by:

J D Williams - Director

1.	STATUTORY INFORMATION

Cura Technical Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

10% on cost

Motor vehicles

-

Straight line over 5 years

Computer equipment

-

33% on cost and 20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2018 - 42 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2018

181,086

193,453

374,539

Additions

-

55,070

55,070

At 31 March 2019

181,086

248,523

429,609

AMORTISATION

At 1 April 2018

54,326

12,000

66,326

Charge for year

9,054

12,000

21,054

At 31 March 2019

63,380

24,000

87,380

NET BOOK VALUE

At 31 March 2019

117,706

224,523

342,229

At 31 March 2018

126,760

181,453

308,213

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

34,932

54,461

34,749

26,916

151,058

Additions

-

-

-

74,950

74,950

Disposals

-

-

(1,422

)

-

(1,422

)

At 31 March 2019

34,932

54,461

33,327

101,866

224,586

DEPRECIATION

At 1 April 2018

4,367

12,020

2,143

13,609

32,139

Charge for year

8,733

5,446

6,950

31,040

52,169

Eliminated on disposal

-

-

(427

)

-

(427

)

At 31 March 2019

13,100

17,466

8,666

44,649

83,881

NET BOOK VALUE

At 31 March 2019

21,832

36,995

24,661

57,217

140,705

At 31 March 2018

30,565

42,441

32,606

13,307

118,919

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2018

and 31 March 2019

10,000

NET BOOK VALUE

At 31 March 2019

10,000

At 31 March 2018

10,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Trade debtors

668,266

390,950

Amounts owed by group undertakings

367,251

367,251

Other debtors

75,393

77,561

1,110,910

835,762

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Bank loans and overdrafts

258,825

77,705

Hire purchase contracts

4,003

4,003

Trade creditors

339,897

191,138

Amounts owed to group undertakings

104,383

233,700

Taxation and social security

290,168

170,813

Other creditors

756,161

599,531

1,753,437

1,276,890

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/19

31/3/18

£

£

Hire purchase contracts

11,008

15,011

Taxation and social security

-

146,000

Other creditors

387,790

251,155

398,798

412,166

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/19

31/3/18

value:

£

£

2

Ordinary

£1

2

2

494,462

Redeemable preference

£1

494,462

542,500

494,464

542,502

During the year 48,038 preference shares were redeemed at par by the company.

12.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the directors £45,870 (2018: were owed £9,330).

At the balance sheet date the company owed £100,000 (2018: £150,000) to the ultimate parent undertaking, was

owed £367,251(2018: £367,251) by the immediate parent undertaking and owed £4,383 (2018: £83,700) to the

subsidiary undertaking.