CSG Valves Limited

CSG Valves Limited

CSG VALVES LIMITED - Company Information

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Registered number: 09467135
CSG Valves Limited
Abbreviated accounts
For the Period 3 March 2015 to 31 March 2016
Integrity Partnership

Chartered Certified Accountants

1 Plough Road
Wellington
Telford
Shropshire
TF1 1ET
CSG Valves Limited
Company No. 09467135
Abbreviated Balance Sheet 31 March 2016
Abbreviated Balance Sheet
Period to 31 March 2016
Notes £ £
FIXED ASSETS
Intangible Assets 2 2,500
Tangible Assets 3 4,343
6,843
CURRENT ASSETS
Stocks 284,046
Debtors 254,241
Cash at bank and in hand 13,895
552,182
Creditors: Amounts Falling Due Within One Year (509,384 )
NET CURRENT ASSETS (LIABILITIES) 42,798
TOTAL ASSETS LESS CURRENT LIABILITIES 49,641
Creditors: Amounts Falling Due After More Than One Year 4 (17,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (869 )
NET ASSETS 31,272
CAPITAL AND RESERVES
Called up share capital 5 100
Profit and Loss Account 31,172
SHAREHOLDERS' FUNDS 31,272
CSG Valves Limited
Company No. 09467135
Abbreviated Balance Sheet (continued) 31 March 2016
For the period ending 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).
On behalf of the board
Mr Edwin Slieker
2nd December 2016
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CSG Valves Limited
Notes to the Abbreviated Accounts
For the Period 3 March 2015 to 31 March 2016
Notes to the Abbreviated Accounts
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
1.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.7. Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
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CSG Valves Limited
Notes to the Abbreviated Accounts (continued)
For the Period 3 March 2015 to 31 March 2016
2. Intangible Assets
Total
Cost £
As at 3 March 2015 -
Additions 2,500
As at 31 March 2016 2,500
Net Book Value
As at 31 March 2016 2,500
As at 3 March 2015 -
3. Tangible Assets
Total
Cost £
As at 3 March 2015 -
Additions 5,085
As at 31 March 2016 5,085
Depreciation
As at 3 March 2015 -
Provided during the period 742
As at 31 March 2016 742
Net Book Value
As at 31 March 2016 4,343
As at 3 March 2015 -
4. Creditors: Amounts Falling Due After More Than One Year
Period to 31 March 2016
£
Bank loans 17,500
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CSG Valves Limited
Notes to the Abbreviated Accounts (continued)
For the Period 3 March 2015 to 31 March 2016
5. Share Capital
Value Number Period to 31 March 2016
Allotted, called up and fully paid £ £
Ordinary shares 1.000 100 100
Nominal value Number Amount
Shares issued during the period: £ £
Ordinary shares 1.000 100 100
6. Parent Undertaking and Controlling Party
The company's immediate and parent undertaking is Eshold BV. Eshold BV was incorporated in The Netherlands. Copies of the group accounts may be obtained from the secretary, . The controlling party is Eshold BV which controls 75% of the shares of CSG Valves Limited.
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