Tankgas Equipment Limited - Accounts to registrar - small 17.1
Tankgas Equipment Limited - Accounts to registrar - small 17.1
| Tankgas Equipment Limited |
| Financial Statements for the Year Ended 31 December 2016 |
| Tankgas Equipment Limited |
| Company Information |
| for the Year Ended 31 December 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Radnor House |
| Greenwood Close |
| Cardiff Gate Business Park |
| Cardiff |
| CF23 8AA |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Tankgas Equipment Limited |
| The following reproduces the text of the report prepared for the directors and members 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 Directors 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 Tankgas Equipment Limited for the year ended |
| 31 December 2016 which comprise the Profit & Loss Account, Balance Sheet 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 Board of Directors of Tankgas Equipment Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tankgas Equipment Limited and state those matters that we have agreed to state to the Board of Directors of Tankgas Equipment Limited, as a body, 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 Tankgas Equipment Limited Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Tankgas Equipment 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 Tankgas Equipment Limited. You consider that Tankgas Equipment 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 Tankgas Equipment 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. |
| Chartered Accountants |
| Tankgas Equipment Limited (Registered number: 03195305) |
| Balance Sheet |
| 31 December 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| Tankgas Equipment Limited (Registered number: 03195305) |
| Balance Sheet - continued |
| 31 December 2016 |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on signed on its behalf by: |
| Tankgas Equipment Limited (Registered number: 03195305) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding |
| discounts, rebates, value added tax and other sales taxes. |
| 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 Profit & |
| Loss Account, 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 that |
| have been enacted or substantively enacted by the balance sheet date. |
| 2. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 January 2016 |
| Disposals | ( |
) |
| At 31 December 2016 |
| AMORTISATION |
| At 1 January 2016 |
| Eliminated on disposal | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Tankgas Equipment Limited (Registered number: 03195305) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 3. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2016 |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Other debtors & prepayments |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxes & social security costs |
| Other creditors & accruals |
| 6. | IMMEDIATE AND ULTIMATE PARENT UNDERTAKING |
| The company's immediate parent undertaking at the balance sheet date was KC Prosupply |
| UK Limited, a company registered in England & Wales. The company's ultimate parent |
| undertaking at the balance sheet date was Al-Ayuni Investment & Contracting Company, a |
| company registered in Saudi Arabia. |