Catfoss Cabin Hire Limited - Accounts to registrar - small 17.2
Catfoss Cabin Hire Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2016 |
| for |
| Catfoss Cabin Hire Limited |
| Catfoss Cabin Hire Limited (Registered number: 08326596) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Catfoss Cabin Hire Limited |
| Company Information |
| for the Year Ended 31 December 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Tickton Hall |
| Tickton |
| Beverley |
| East Yorkshire |
| HU17 9RX |
| BANKERS: |
| Humber Commercial Centre |
| Merit House |
| Priory Park West |
| Hessle |
| East Yorkshire |
| HU13 9PB |
| Catfoss Cabin Hire Limited (Registered number: 08326596) |
| Balance Sheet |
| 31 December 2016 |
| 31.12.16 | 31.12.15 |
| 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 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Capital contribution reserve |
| 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. |
| 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 behalf by: |
| Catfoss Cabin Hire Limited (Registered number: 08326596) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| Catfoss Cabin Hire 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 |
| These are the first financial statements after transitioning to FRS from the previous financial reporting |
| framework. In transitioning to the new standards disclosure of shareholders loans has been reviewed as |
| previous accounting treatment is no longer permitted. The reconciliation of equity at the date of transition |
| discloses alterations to the balance sheet creditors and equity with comparison to previous financial reporting |
| framework. The reconciliation of the profit determined in accordance with its previous financial reporting |
| framework for the latest period in the company's most recent annual financial statements to its profit |
| determined in accordance with FRS reporting for the same period shows no changes. |
| The directors also took advantage of a transition exemption available to use revalued cost brought forward as |
| deemed cost going forward on cabin stocks. |
| 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 |
| Land | - |
| Plant and machinery etc | - |
| 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. |
| 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 |
| Catfoss Cabin Hire Limited (Registered number: 08326596) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Short | to | Plant and | Computer |
| leasehold | property | machinery | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| VAT |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Other loans |
| Shareholders loans | 126,000 | 126,000 |
| Hire purchase contracts |
| Trade creditors |
| Factoring account | 185,637 | (109,808 | ) |
| Amounts owed to group undertakings |
| Social security and other taxes |
| VAT | - | 55,201 |
| Deferred income |
| Accrued expenses |
| Catfoss Cabin Hire Limited (Registered number: 08326596) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Hire purchase contracts |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Other loans |
| Hire purchase contracts | 2,459,477 | 2,151,508 |
| The factoring facility and other loans provided by Reward Capital are secured via a debenture creating a fixed |
| and floating charge over the company's assets. |
| The obligations due under hire purchase contracts are secured against specific assets plus a debenture |
| creating a fixed and floating charge over the company's assets. |
| Director Ben Foreman has director guarantees in place for both the Reward Capital factoring facility and one of |
| two hire purchase agreements the company had in place at the year end. |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 January 2016 |
| Revaluation applicable to disposals | (30,205 | ) |
| At 31 December 2016 |
| 10. | RELATED PARTY DISCLOSURES |
| The company ran an interest free loan account with joint venture partner Foremans Properties Limited. At the |
| year end date the company owed £900 (2015: £Nil). Current liabilities also includes a shareholder loan of |
| £126,000 (2015: £126,000) from Foremans Properties Limited which is interest free and repayable on |
| demand. |
| Former director A. P. Foreman is deemed the ultimate controlling party of Foremans Properties Limited due to |
| his control of its ultimate parent company Catfoss Group Holdings Limited. |
| 11. | ULTIMATE CONTROLLING PARTY |