CRS Abergavenny Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09292052 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

CRS ABERGAVENNY LTD

Page

Company Information

1

Chartered Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

P D Bevan

Mrs T D Bevan

REGISTERED OFFICE:

The Third Floor Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

REGISTERED NUMBER:

09292052 (England and Wales)

ACCOUNTANTS:

WBV Limited

The Third Floor,

Langdon House, Langdon Road

SA1 Swansea Waterfront

Swansea

West Glamorgan

SA1 8QY

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 Abridged 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 CRS Abergavenny Ltd for the year ended 31 December 2016 which

comprise the Abridged Income Statement, Other Comprehensive Income, Abridged 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 CRS Abergavenny Ltd, 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 CRS Abergavenny Ltd and state those matters that we have agreed to state to the Board of Directors of CRS Abergavenny Ltd, 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 CRS Abergavenny Ltd Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that CRS Abergavenny Ltd 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 CRS Abergavenny Ltd. You consider that CRS Abergavenny Ltd 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 CRS Abergavenny Ltd. 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.

WBV Limited

The Third Floor,

Langdon House, Langdon Road

SA1 Swansea Waterfront

Swansea

West Glamorgan

SA1 8QY

21 July 2017

FIXED ASSETS

Intangible assets

4

12,000

13,500

Tangible assets

5

129,586

151,020

141,586

164,520

CURRENT ASSETS

Stocks

4,782

4,005

Debtors

24,761

31,872

Cash at bank

17,165

37,429

46,708

73,306

CREDITORS

Amounts falling due within one year

70,635

90,276

NET CURRENT LIABILITIES

(23,927

)

(16,970

)

TOTAL ASSETS LESS CURRENT LIABILITIES

117,659

147,550

CREDITORS

Amounts falling due after more than one year

6

(101,162

)

(126,991

)

PROVISIONS FOR LIABILITIES

(13,093

)

(11,208

)

NET ASSETS

3,404

9,351

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

3,403

9,350

SHAREHOLDERS' FUNDS

3,404

9,351

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 July 2017 and were signed on its behalf by:

P D Bevan - Director

Mrs T D Bevan - Director

1.	STATUTORY INFORMATION

CRS Abergavenny 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.

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.

Turnover

Revenue is recognised at the point of sale to the customer, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

equal instalments over the lease period

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

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.

Franchise fee

The franchise fee and related costs are capitalised and amortised over the term of the agreement of

ten years.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2015 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

and 31 December 2016

15,000

AMORTISATION

At 1 January 2016

1,500

Amortisation for year

1,500

At 31 December 2016

3,000

NET BOOK VALUE

At 31 December 2016

12,000

At 31 December 2015

13,500

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

and 31 December 2016

175,271

DEPRECIATION

At 1 January 2016

24,251

Charge for year

21,434

At 31 December 2016

45,685

NET BOOK VALUE

At 31 December 2016

129,586

At 31 December 2015

151,020

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2016

2015

£

£

Repayable by instalments

Bank loans more 5 yr by instal

-

23,676

7.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank loans

126,991

152,820

8.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the balance sheet is £146,475.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 were paid to the directors .

Mr P D Bevan and Mrs T D Bevan (Directors) :

The directors have given personal guarantees in respect of the company's bank borrowings.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is PTB (Holdings) Limited.

Mr P Bevan and Mrs T Bevan are the sole directors and shareholders of PTB (Holdings) Limited, the

parent company of CRS Abergavenny Limited.

They are also the sole directors of CRS Abergavenny Limited and therefore control the entire issued

share capital.