Canberra Wells Limited - Accounts to registrar - small 17.2
Canberra Wells Limited - Accounts to registrar - small 17.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2017 |
for |
Canberra Wells Limited |
Canberra Wells Limited (Registered number: 01542774) |
Contents of the Financial Statements |
for the year ended 31st March 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Canberra Wells Limited |
Company Information |
for the year ended 31st March 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Black Bull House |
353-355 Station Road |
Bamber Bridge |
Preston |
Lancashire |
PR5 6EE |
BANKERS: |
130 Lord Street |
Southport |
Merseyside |
PR9 OAB |
Canberra Wells Limited (Registered number: 01542774) |
Balance Sheet |
31st March 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Canberra Wells Limited (Registered number: 01542774) |
Balance Sheet - continued |
31st March 2017 |
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 |
Canberra Wells Limited (Registered number: 01542774) |
Notes to the Financial Statements |
for the year ended 31st March 2017 |
1. | STATUTORY INFORMATION |
Canberra Wells Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
2. | 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. |
Tangible fixed assets |
Leasehold property | - |
Plant & equipment | - |
Motor vehicles | - |
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 Income Statement, 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. |
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 profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
Canberra Wells Limited (Registered number: 01542774) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2017 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Leasehold | Plant & | Motor |
property | equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2016 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31st March 2017 |
DEPRECIATION |
At 1st April 2016 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31st March 2017 |
NET BOOK VALUE |
At 31st March 2017 |
At 31st March 2016 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1st April 2016 |
Additions |
Disposals | ( |
) |
Transfer to ownership | (34,000 | ) |
At 31st March 2017 |
DEPRECIATION |
At 1st April 2016 |
Charge for year |
Eliminated on disposal | ( |
) |
Transfer to ownership | (10,625 | ) |
At 31st March 2017 |
NET BOOK VALUE |
At 31st March 2017 |
At 31st March 2016 |
Canberra Wells Limited (Registered number: 01542774) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2017 |
5. | DEBTORS |
2017 | 2016 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Prepayments |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 8) |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Canberra Wells Limited (Registered number: 01542774) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2017 |
8. | LEASING AGREEMENTS - continued |
Non-cancellable operating |
leases |
2017 | 2016 |
£ | £ |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2017 | 2016 |
£ | £ |
Hire purchase contracts | 25,623 | 10,535 |
10. | RELATED PARTY DISCLOSURES |
During the year the company wrote off £4,000 of the loan made to Nigel C Taylor Limited, a company controlled |
by the director Mr N Taylor, and of which he is the sole director. The amount owing to the company was at 31 |
March 2017 was £70,000 (2016 - £75,000). No interest was charged on the loan (2016 - nil) and it is not |
expected the loan will be repaid within 12 months. |
11. | ULTIMATE CONTROLLING PARTY |
The company is controlled by Mr C and Mrs M Taylor. |