Concrete Structures & Floors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07917725 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

CONCRETE STRUCTURES & FLOORS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

S O'Sullivan

REGISTERED OFFICE:

Unit 38

Neath Abbey Business Park

Neath Abbey

Neath

West Glamorgan

SA10 7DR

REGISTERED NUMBER:

07917725 (England and Wales)

ACCOUNTANTS:

WBV Limited

The Third Floor,

Langdon House, Langdon Road

SA1 Swansea Waterfront

Swansea

West Glamorgan

SA1 8QY

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Concrete Structures & Floors Limited for the year ended 31 March 2020 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Concrete Structures & Floors Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Concrete Structures & Floors Limited and state those matters that we have agreed to state to the director of Concrete Structures & Floors Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Concrete Structures & Floors Limited and its director for our work or for this report.

It is your duty to ensure that Concrete Structures & Floors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Concrete Structures & Floors Limited. You consider that Concrete Structures & Floors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Concrete Structures & Floors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

WBV Limited

The Third Floor,

Langdon House, Langdon Road

SA1 Swansea Waterfront

Swansea

West Glamorgan

SA1 8QY

21 December 2020

FIXED ASSETS

Tangible assets

4

520,632

347,182

CURRENT ASSETS

Stocks

260,500

236,961

Debtors

5

653,424

481,074

Cash at bank

1,051,843

1,036,328

1,965,767

1,754,363

CREDITORS

Amounts falling due within one year

6

432,484

732,255

NET CURRENT ASSETS

1,533,283

1,022,108

TOTAL ASSETS LESS CURRENT LIABILITIES

2,053,915

1,369,290

CREDITORS

Amounts falling due after more than one year

7

(6,626

)

(23,485

)

PROVISIONS FOR LIABILITIES

10

(90,059

)

(57,496

)

ACCRUALS AND DEFERRED INCOME

(13,500

)

-

NET ASSETS

1,943,730

1,288,309

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

1,943,726

1,288,305

SHAREHOLDERS' FUNDS

1,943,730

1,288,309

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 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 director and authorised for issue on 21 December 2020 and were signed by:

S O'Sullivan - Director

1.	STATUTORY INFORMATION

Concrete Structures & Floors Limited 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.	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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost and 10% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2019 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

379,973

Additions

247,355

Disposals

(5,684

)

At 31 March 2020

621,644

DEPRECIATION

At 1 April 2019

32,791

Charge for year

68,932

Eliminated on disposal

(711

)

At 31 March 2020

101,012

NET BOOK VALUE

At 31 March 2020

520,632

At 31 March 2019

347,182

The net book value of tangible fixed assets includes £ 41,236 (2019 - £ 67,567 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

399,262

329,736

Other debtors

254,162

151,338

653,424

481,074

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts (see note 8)

15,456

25,333

Trade creditors

187,890

139,312

Taxation and social security

176,117

300,649

Other creditors

53,021

266,961

432,484

732,255

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts (see note 8)

6,626

23,485

8.	LEASING AGREEMENTS

The company has financial commitments of £128,512 under a non cancellable operating lease (2019: £24,000). These are not shown on the company's year-end balance sheet.

The amount of outstanding pension commitment existing at the balance sheet date was £345 (2019: £5,395).

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Hire purchase contracts

22,082

48,818

The hire purchase liabilities are secured upon the assets being financed.

10.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

90,059

57,496

Deferred

tax

£

Balance at 1 April 2019

57,496

Charge to Income Statement during year

32,563

Balance at 31 March 2020

90,059

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019:

2020

2019

£

£

S O'Sullivan

Balance outstanding at start of year

49,369

25,823

Amounts advanced

313,934

54,546

Amounts repaid

(170,433

)

(31,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

192,870

49,369