CLYDE CONTRACTS & SUPPLIES LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC130933 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2019

for

CLYDE CONTRACTS & SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K WILKINSON

REGISTERED OFFICE:

OFFICE 8

HYDEPARK STREET BUSINESS PARK

MOLLINSBURN ST

GLASGOW

G21 4SF

REGISTERED NUMBER:

SC130933 (Scotland)

ACCOUNTANTS:

A&J ACCOUNTANTS LTD

53 High Street

Dumbarton

G82 1LS

FIXED ASSETS

Tangible assets

4

73,850

72,650

CURRENT ASSETS

Stocks

7,397

8,276

Debtors

5

74,980

35,216

Cash at bank

66,724

68,910

149,101

112,402

CREDITORS

Amounts falling due within one year

6

174,121

141,291

NET CURRENT LIABILITIES

(25,020

)

(28,889

)

TOTAL ASSETS LESS CURRENT LIABILITIES

48,830

43,761

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

48,828

43,759

SHAREHOLDERS' FUNDS

48,830

43,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30 December 2019 and were signed by:

K WILKINSON - Director

1.	STATUTORY INFORMATION

CLYDE CONTRACTS & SUPPLIES LIMITED is a private company, limited by shares ,

registered in Scotland. The 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

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. 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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2018 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2018

293,824

Additions

22,255

At 30 April 2019

316,079

DEPRECIATION

At 1 May 2018

221,174

Charge for year

21,055

At 30 April 2019

242,229

NET BOOK VALUE

At 30 April 2019

73,850

At 30 April 2018

72,650

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade debtors

74,980

35,216

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Hire purchase contracts

59,361

65,718

Trade creditors

43,595

20,798

Taxation and social security

68,076

52,462

Other creditors

3,089

2,313

174,121

141,291