Cardiff Steel Erection Limited - Period Ending 2014-07-31

Registration number: 05496163

Cardiff Steel Erection Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2014
 

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

Cardiff Steel Erection Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Cardiff Steel Erection Limited
(Registration number: 05496163)
Abbreviated Balance Sheet at 31 July 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			107,621			109,942
Current assets
Stocks					32,523			27,009
Debtors					748,762			687,998
Cash at bank and in hand					713,725			1,152,299
					1,495,010			1,867,306
Creditors: Amounts falling due within one year					(973,708)			(981,312)
Net current assets					521,302			885,994
Total assets less current liabilities					628,923			995,936
Creditors: Amounts falling due after more than one year					(41,804)			(45,518)
Net assets					587,119			950,418
Capital and reserves
Called up share capital		4			3,100			3,100
Profit and loss account					584,019			947,318
Shareholders' funds					587,119			950,418

For the year ending 31 July 2014 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 18 February 2015 and signed on its behalf by:

.........................................
Mr AG Cooper
Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

Cardiff Steel Erection Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the service provided to date on a proportion of the total expected consideration at completion.

Depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	2% straight line
Fixtures and fittings	25% straight line
Motor vehicles	25% straight line

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

Cardiff Steel Erection Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2013		334,936			334,936
Additions		1,143			1,143
At 31 July 2014		336,079			336,079
Depreciation
At 1 August 2013		224,994			224,994
Charge for the year		3,464			3,464
At 31 July 2014		228,458			228,458
Net book value
At 31 July 2014		107,621			107,621
At 31 July 2013		109,942			109,942

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		3,586			3,458
Amounts falling due after more than one year		41,804			45,518
Total secured creditors		45,390			48,976

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary share of £1 each		100			100			100			100
Class E shares of £0.01 each		300,000			3,000			300,000			3,000
		300,100			3,100			300,100			3,100

Page 3

Cardiff Steel Erection Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

5	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr AG Cooper
Amounts advanced and repaid	627,224	97,706	-	-

These transactions have been aggregated by kind. The directors consider that this treatment does not impair a true and fair view of the financial statements.

Page 4