Conway Saw Limited - Accounts to registrar - small 17.2
Conway Saw Limited - Accounts to registrar - small 17.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st December 2016 |
for |
Conway Saw Limited |
Conway Saw Limited (Registered number: 04677737) |
Contents of the Financial Statements |
for the Year Ended 31st December 2016 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
Conway Saw Limited |
Company Information |
for the Year Ended 31st December 2016 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
101 Dixons Green Road |
Dudley |
West Midlands |
DY2 7DJ |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Conway Saw Limited |
The following reproduces the text of the report prepared for the director 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 Income Statement |
and certain other primary statements and the Report of the Director 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 Conway Saw Limited for the year ended 31st December 2016 which |
comprise the Income Statement, 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 director of Conway Saw Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Conway Saw Limited and state those matters that we have agreed to state to the director of Conway Saw Limited 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 Conway Saw Limited director for our work or for this report. |
It is your duty to ensure that Conway Saw Limited 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 Conway Saw Limited. You consider that Conway Saw Limited 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 Conway Saw Limited. 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. |
Chartered Accountants |
101 Dixons Green Road |
Dudley |
West Midlands |
DY2 7DJ |
Conway Saw Limited (Registered number: 04677737) |
Balance Sheet |
31st December 2016 |
2016 | 2015 |
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 |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
Conway Saw Limited (Registered number: 04677737) |
Balance Sheet - continued |
31st December 2016 |
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. |
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 |
Conway Saw Limited (Registered number: 04677737) |
Notes to the Financial Statements |
for the Year Ended 31st December 2016 |
1. | STATUTORY INFORMATION |
Conway Saw 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 |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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. |
Conway Saw Limited (Registered number: 04677737) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2016 |
2. | ACCOUNTING POLICIES - continued |
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. |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st January 2016 |
and 31st December 2016 |
DEPRECIATION |
At 1st January 2016 |
Charge for year |
At 31st December 2016 |
NET BOOK VALUE |
At 31st December 2016 |
At 31st December 2015 |
Conway Saw Limited (Registered number: 04677737) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2016 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £12,200 (2015 - £7,000) were paid to the director . |
8. | FIRST YEAR ADOPTION |
The Company has transitioned to FRS 102 from previously being prepared under the historical cost |
convention and in accordance with the Financial Reporting Standards for Smaller Entities (effective |
from 1st January 2015) as at 1st January 2016. |
Reconciliation of equity |
No transitional adjustments were required. |
Reconciliation of profit or loss for the year |
No transitional adjustments were required. |