M Davies Steel Reinforcements Limited Filleted accounts for Companies House (small and micro)
M Davies Steel Reinforcements Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
04779874
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FINANCIAL STATEMENTS |
Year ended 30 June 2021
CONTENTS |
PAGES |
Balance sheet |
1 to 2 |
Notes to the financial statements |
3 to 7 |
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BALANCE SHEET |
2021 |
2020 |
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Note |
£ |
£ |
FIXED ASSETS
Tangible assets |
5 |
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CURRENT ASSETS
Debtors |
6 |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
7 |
(
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(
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: amounts falling due after more than one year |
8 |
(
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PROVISIONS |
(
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(
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NET ASSETS |
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CAPITAL AND RESERVES
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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BALANCE SHEET (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
10 November 2021
, and are signed on behalf of the board by:
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Director |
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Company registration number:
04779874
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NOTES TO THE FINANCIAL STATEMENTS |
Year ended 30 June 2021
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oak Cottage, Trostrey, Usk, Monmouthshire, NP15 1JH.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
Basis of preparation
Turnover
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery |
- |
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Motor vehicles |
- |
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Office equipment |
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25% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Government grants
Provisions
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
3
(2020:
3
).
5.
TANGIBLE ASSETS
Plant and machinery |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 July 2020 |
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5,770 |
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Additions |
– |
– |
495 |
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Disposals |
– |
(
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(
524) |
(
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------- |
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At 30 June 2021 |
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5,741 |
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------- |
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Depreciation |
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At 1 July 2020 |
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884 |
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Charge for the year |
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1,373 |
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Disposals |
– |
(
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(
262) |
(
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-------- |
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------- |
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At 30 June 2021 |
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1,995 |
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Carrying amount |
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At 30 June 2021 |
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3,746 |
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At 30 June 2020 |
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4,886 |
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Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles |
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£ |
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At 30 June 2021 |
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At 30 June 2020 |
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6.
DEBTORS
2021 |
2020 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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7.
CREDITORS:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Included within other creditors is an amount of £8,634 (2020 - £10,650) in respect of hire purchase agreements that are secured on the assets to which they relate.
8.
CREDITORS:
amounts falling due after more than one year
2021 |
2020 |
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£ |
£ |
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Other creditors |
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Included within other creditors is an amount of £5,752 (2020 - £14,386) in respect of hire purchase agreements that are secured on the assets to which they relate.
9.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
Included within other debtors/(creditors) is £8,886 (2020 - £7,729) due from/(to) the director. This balance is interest free, unsecured and repayable on demand. In relation to the overdrawn balance(s), the following transactions took place during the year;
£ | |||||
Opening balance | 7,729 | ||||
Amounts repaid | (103,743) | ||||
Amounts drawn | 104,900 | ||||
Closing balance | 8,886 | ||||