Conditioned Environment Mech Services - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03805885 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Conditioned Environment Mechanical

Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C J Pearce

Mr L Pearce

SECRETARIES:

Mr K Pearce

Mr L Pearce

REGISTERED OFFICE:

245 Acton Lane

Park Royal

London

NW10 7NR

REGISTERED NUMBER:

03805885 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Tangible assets

4

138,372

160,541

CURRENT ASSETS

Stocks

186,052

350,323

Debtors

5

2,706,746

2,211,742

Cash at bank and in hand

340,877

188,051

3,233,675

2,750,116

CREDITORS

Amounts falling due within one year

6

(2,934,320

)

(2,646,325

)

NET CURRENT ASSETS

299,355

103,791

TOTAL ASSETS LESS CURRENT LIABILITIES

437,727

264,332

CREDITORS

Amounts falling due after more than one year

7

(44,100

)

(39,840

)

PROVISIONS FOR LIABILITIES

(15,064

)

(16,301

)

NET ASSETS

378,563

208,191

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

378,363

207,991

SHAREHOLDERS' FUNDS

378,563

208,191

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 1 August 2017 and were signed on its behalf by:

Mr L Pearce - Director

1.	STATUTORY INFORMATION

Conditioned Environment Mechanical Services Ltd is a private company, limited by shares ,

registered in England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make

judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects

both current and future periods.

The company does not make significant estimates and assumptions concerning the future which

affect the reported position shown in the accounts.

Changes in accounting policies

These accounts reflect the first year that the company has adopted FRS 102. The prior year financial

statements were restated for adoption of FRS 102 in the current year. There were no material

adjustments arising.

Turnover

Turnover represents the value of goods and services under contracts, provided in the period,

exclusive of Value Added Tax, to the extent that there is a right to consideration and is recorded at

the value of consideration due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method,

except for investments in non-convertible preference and non-puttable preference and ordinary

shares, which are measured at fair value, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and thereafter at fair value, with changes

recognised in profit and loss.

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.

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 34 (2016 - 34 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

333,953

Additions

67,973

Disposals

(20,000

)

At 31 March 2017

381,926

DEPRECIATION

At 1 April 2016

173,412

Charge for year

77,142

Eliminated on disposal

(7,000

)

At 31 March 2017

243,554

NET BOOK VALUE

At 31 March 2017

138,372

At 31 March 2016

160,541

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2016

226,377

Additions

33,779

Disposals

(20,000

)

At 31 March 2017

240,156

DEPRECIATION

At 1 April 2016

98,317

Charge for year

47,383

Eliminated on disposal

(7,000

)

At 31 March 2017

138,700

NET BOOK VALUE

At 31 March 2017

101,456

At 31 March 2016

128,060

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

1,936,964

1,567,419

Other debtors

769,782

644,323

2,706,746

2,211,742

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts (see note 8)

21,969

39,554

Trade creditors

1,456,123

1,673,509

Taxation and social security

556,800

311,110

Other creditors

899,428

622,152

2,934,320

2,646,325

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts (see note 8)

35,625

39,840

Other creditors

8,475

-

44,100

39,840

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.3.17

31.3.16

£

£

Net obligations repayable:

Within one year

21,969

39,554

Between one and five years

35,625

39,840

57,594

79,394

Non-cancellable

operating leases

31.3.17

31.3.16

£

£

Between one and five years

10,704

-

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr L Pearce.

10.	RELATED PARTIES

CORNERSTONE BUILDING SERVICES LIMITED

A company owned by the directors of Conditioned Environment Mechanical Services Limited.

As at the year end, the company owed £21,367 to Cornerstone Building Services Limited.

This amount is interest free, unsecured and repayable on demand.

ANDERHOUSE LIMITED

A company owned by relations of the directors of Conditioned Environment Mechanical Services

Limited.

As at the year end, the company was owed £33,270 by Anderhouse Limited.

This amount is interest free, unsecured and repayable on demand.