CW Construction (North West) Limited - Period Ending 2016-11-30

Registration number: 4184153

CW Construction (North West) Limited

Unaudited Abbreviated Accounts

30 November 2016
 

CW Construction (North West) Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

CW Construction (North West) Limited
abbreviated balance sheet
30 November 2016

		Note			2016						2015 £
	£			£
Fixed assets
Tangible fixed assets								215,429			224,485
Current assets
Stocks					27,100						98,950
Debtors					1,182,543						1,290,605
Cash at bank and in hand					17,486						68,013
					1,227,129						1,457,568
Creditors: Amounts falling due within one year					(115,399)						(291,649)
Net current assets								1,111,730			1,165,919
Total assets less current liabilities								1,327,159			1,390,404
Provisions for liabilities								(3,560)			(3,560)
Net assets								1,323,599			1,386,844
Capital and reserves
Called up share capital		3			1						1
Profit and loss account					1,323,598						1,386,843
Shareholders' funds								1,323,599			1,386,844

The notes on pages 3 to 5 form an integral part of these financial statements.
1

CW Construction (North West) Limited
abbreviated balance sheet ......... continued
30 November 2016

For the year ending 30 November 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 30 August 2017

.........................................
Mr D J Currie
Director

Company Registration Number: 4184153

The notes on pages 3 to 5 form an integral part of these financial statements.
2

CW Construction (North West) Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 2016

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Government grants

Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Over 10 years

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CW Construction (North West) Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 2016

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold Property	4% Straight line
Plant and Machinery	25% Straight line
Furniture and Equipment	25% Straight line
Motor Vehicles	25% Straight line

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRS19. Deferred tax assets are recognised only to the extent that the director considers 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 tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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CW Construction (North West) Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 2016

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 December 2015		7,429			354,962			362,391
Additions		-			1,350			1,350
At 30 November 2016		7,429			356,312			363,741
Depreciation
At 1 December 2015		7,429			130,477			137,906
Charge for the year		-			10,406			10,406
At 30 November 2016		7,429			140,883			148,312
Net book value
At 30 November 2016		-			215,429			215,429
At 30 November 2015		-			224,485			224,485

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary share of £1 each		1			1			1			1

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