Cwmbran Tile Centre Holdings Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05156222 (England and Wales)

CWMBRAN TILE CENTRE HOLDINGS LIMITED

Unaudited Financial Statements

for the Period 1 January 2016 to 31 March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N McDonald

SECRETARY:

L J McDonald

REGISTERED OFFICE:

c/o O'Brien & Partners

7A Nevill Street

Abergavenny

Gwent

NP7 5AA

REGISTERED NUMBER:

05156222 (England and Wales)

ACCOUNTANTS:

O'Brien & Partners

Chartered Accountants

7a Nevill Street

Abergavenny

Monmouthshire

NP7 5AA

FIXED ASSETS

Investments

3

2

2

CURRENT ASSETS

Debtors

4

75,287

125,000

Cash in hand

-

98

75,287

125,098

CREDITORS

Amounts falling due within one year

5

(69,373

)

(121,473

)

NET CURRENT ASSETS

5,914

3,625

TOTAL ASSETS LESS CURRENT LIABILITIES

5,916

3,627

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

5,816

3,527

SHAREHOLDERS' FUNDS

5,916

3,627

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 6 September 2017 and were signed by:

N McDonald - Director

1.	STATUTORY INFORMATION

Cwmbran Tile Centre Holdings Limited 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.

These financial statements for the year ended 31 December 2016 are the first financial statements that comply with FRS 102

Section 1 A small entities. the date of transition is 1 January 2015.

The transition to FRS 102 Section 1 A small entities has not resulted in any amendments to the comparative balance sheet,

the balance sheet at the date of transition, or in the comparative income statement.

The current year has been amended to 31 March 2017, as requested by the directors. Therefore the current year figures.

Turnover

Turnover represents sales of management services. Revenue is recognised when the company has the right to the

consideration.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period 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 period 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.

Preparation of consolidated financial statements

The financial statements contain information about Cwmbran Tile Centre Holdings Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398

of the Companies Act 2006 not to prepare consolidated financial statements.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2016

and 31 March 2017

2

NET BOOK VALUE

At 31 March 2017

2

At 31 December 2015

2

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.12.15

£

£

Other debtors

75,287

125,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.12.15

£

£

Amounts owed to group undertakings

52,131

100,600

Taxation and social security

17,242

20,873

69,373

121,473

6.	SECURED DEBTS

Barclays Bank Plc hold a fixed and floating charge over the assets of the company in relation to loans held within Cwmbran

Tile Centre Limited.

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2017 and the year ended

31 December 2015:

31.3.17

31.12.15

£

£

N McDonald

Balance outstanding at start of period

125,000

-

Amounts advanced

95,207

165,000

Amounts repaid

(144,920

)

(40,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

75,287

125,000

8.	RELATED PARTY DISCLOSURES

The company provided management services to its subsidiary, Cwmbran Tile Centre Limited during the prior year and

charged £Nil (2015 - £54,000) for these services. The company received a loan of £Nil (2015: £100,600) from its subsidiary

during the period. The company received dividends of £144,920 (2015: £Nil) during the period. At the balance sheet date the

company owed its subsidiary £52,131 (2015: £125,000).

The company paid dividends to its director and shareholders, Mr N & Mrs L Mcdonald of £72,460 each (2015: £20,000

each) during the year.

9.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by Mr N McDonald and Mrs L McDonald by virtue of their 100% shareholding.