Chepstow Construction Equipment Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08305417

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Chepstow Construction Equipment Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J P Durran

P R Best

I S Whiting

SECRETARY:

M J P Durran

REGISTERED OFFICE:

21 Gold Tops

Newport

South Wales

NP20 4PG

REGISTERED NUMBER:

08305417

ACCOUNTANTS:

Guilfoyle Sage LLP

21 Gold Tops

Newport

South Wales

NP20 4PG

FIXED ASSETS

Tangible assets

4

112,164

148,375

CURRENT ASSETS

Stocks

1,910,839

1,169,056

Debtors

5

2,455,849

1,283,623

Cash at bank and in hand

166,772

595,881

4,533,460

3,048,560

CREDITORS

Amounts falling due within one year

6

4,351,001

3,005,012

NET CURRENT ASSETS

182,459

43,548

TOTAL ASSETS LESS CURRENT LIABILITIES

294,623

191,923

PROVISIONS FOR LIABILITIES

23,311

28,191

NET ASSETS

271,312

163,732

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

8

270,312

162,732

SHAREHOLDERS' FUNDS

271,312

163,732

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2021 and were signed on its behalf by:

M J P Durran - Director

1.	STATUTORY INFORMATION

Chepstow Construction Equipment Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 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 Statement of Income and Retained Earnings, 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 9 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

246,520

DEPRECIATION

At 1 April 2019

98,145

Charge for year

36,211

At 31 March 2020

134,356

NET BOOK VALUE

At 31 March 2020

112,164

At 31 March 2019

148,375

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

2,359,008

1,211,037

Other debtors

96,841

72,586

2,455,849

1,283,623

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

4,048,406

2,724,006

Taxation and social security

60,194

156,014

Other creditors

242,401

124,992

4,351,001

3,005,012

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

1,000

Ordinary shares

£1

1,000

1,000

8.

RESERVES

Retained

earnings

£

At 1 April 2019

162,732

Profit for the year

261,496

Dividends

(153,916

)

At 31 March 2020

270,312

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £153,916 (2019 - £150,913) were paid to the directors .