Redwood Cable Projects Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06894667 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2014

FOR

REDWOOD CABLE PROJECTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A Clark

R J Foster

M A Smith

REGISTERED OFFICE:

Redwood House

Ninth Avenue East

Team Valley Trading Estate

Gateshead

Tyne and Wear

NE11 0EJ

REGISTERED NUMBER:

06894667 (England and Wales)

ACCOUNTANTS:

Robson Laidler LLP

Fernwood House

Fernwood Road

Jesmond

Newcastle upon Tyne

NE2 1TJ

FIXED ASSETS

Tangible assets

2

65,731

34,681

CURRENT ASSETS

Stocks

25,500

38,000

Debtors

196,629

121,477

Cash at bank

34,382

2,271

256,511

161,748

CREDITORS

Amounts falling due within one year

3

237,949

168,156

NET CURRENT ASSETS/(LIABILITIES)

18,562

(6,408

)

TOTAL ASSETS LESS CURRENT LIABILITIES

84,293

28,273

CREDITORS

Amounts falling due after more than one year

3

(97,472

)

(14,576

)

PROVISIONS FOR LIABILITIES

(11,198

)

(4,560

)

NET (LIABILITIES)/ASSETS

(24,377

)

9,137

CAPITAL AND RESERVES

Called up share capital

4

100

2

Profit and loss account

(24,477

)

9,135

SHAREHOLDERS' FUNDS

(24,377

)

9,137

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 14 May 2015 and were signed on its behalf by:

A Clark - Director

R J Foster - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis which, in the opinion of the directors, is

the appropriate basis. The reasons for the directors arriving at that opinion are as follows:

Steps were taken during the year to strengthen the Board with the appointment of Andrew Clark an experienced

Finance Director and the company was restructured and streamlined into two main divisions- a Data Cabling

division and an Electrical division.

Subsequent to the year end the company has returned to profitability and monthly management accounts at 30

April 2015 show acceptable levels of profitability that have produced positive Capital and Reserves in excess of

£60,000 prior to any Corporation tax charge.

The Company's order book shows that the company will continue to post profitable monthly results and the

Directors are looking to strengthen the board further and are confident of the future success of the company.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

The turnover shown in the profit and loss account represents the value of work done in the year, including the

value of work in progress. Turnover in respect of long term contracts is recognised by reference to stage of

completion.

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

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 gains and losses in tax assessments in periods different

from those in which they are recognised in the financial statements. Deferred tax is calculated at the rate at which

it is anticipated the timing differences will reverse and is measured on a non-discounted basis. Deferred tax

assets are only recognised to the extent that they are regarded as recoverable.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

44,385

Additions

39,437

At 31 August 2014

83,822

DEPRECIATION

At 1 September 2013

9,704

Charge for year

8,387

At 31 August 2014

18,091

NET BOOK VALUE

At 31 August 2014

65,731

At 31 August 2013

34,681

3.

CREDITORS

Creditors include an amount of £ 64,655 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

2

98 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2014 and

31 August 2013:

2014

2013

£

£

R J Foster

Balance outstanding at start of year

17,080

-

Amounts advanced

11,365

17,080

Amounts repaid

-

-

Balance outstanding at end of year

28,445

17,080

M A Smith

Balance outstanding at start of year

150

-

Amounts advanced

-

150

Amounts repaid

(150

)

-

Balance outstanding at end of year

-

150

No interest was charged on the above loans.

6.

CONTROL

The company is under the control of R J Foster and M A Smith.