Specialist Piling Solutions Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09958760 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 19 JANUARY 2016 TO 31 MARCH 2017

FOR

SPECIALIST PILING SOLUTIONS LIMITED

PREVIOUSLY KNOWN AS

JC PILING RIGS LIMITED

Page

Balance sheet

1

Notes to the financial statements

3

Fixed assets

Tangible assets

4

167,902

Current assets

Debtors

5

252,855

Cash at bank and in hand

41,051

293,906

Creditors

Amounts falling due within one year

6

395,231

Net current liabilities

(101,325

)

Total assets less current liabilities

66,577

Creditors

Amounts falling due after more than one year

7

(36,285

)

Provisions for liabilities

9

(5,784

)

Net assets

24,508

Capital and reserves

Called up share capital

10

100

Retained earnings

24,408

Shareholders' funds

24,508

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 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.

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 6 October 2017 and were signed on its behalf by:

Mr J Calcinotto - Director

Mr J Oak - Director

Mr N G Cooper - Director

1.	Statutory information

Specialist Piling Solutions Limited is a private company, limited by shares, registered in England and Wales. The company's

registered number is 09958760. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business

address is 21-23 Willis Way, Willis Way Industrial Estate, Poole, Dorset, BH15 3SS.

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

Turnover represents amounts receivable, excluding value added tax, in respect of goods and services provided in the

ordinary course of business. Turnover is recognised when the service has been provided to the customer or the goods

despatched.

Turnover from construction contracts is stated at cost appropriate to their stage of completion plus attributable profits. It is

recognised by reference to the initial amount agreed in the contract plus any variation in contract work to the extent that it

is probable that they will result in revenue and can be measured reliably. The stage of completion is assessed by reference

to completion of a physical proportion of the contract work.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

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 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.

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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the

contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract

that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any

losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The

company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions

provided by section 399 of the Companies Act 2006 not to prepare group accounts.

3.	Employees and directors

The average number of employees during the period was 8 .

4.	Tangible fixed assets

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

Additions

172,698

28,308

201,006

At 31 March 2017

172,698

28,308

201,006

Depreciation

Charge for period

26,027

7,077

33,104

At 31 March 2017

26,027

7,077

33,104

Net book value

At 31 March 2017

146,671

21,231

167,902

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

Additions

170,236

28,308

198,544

At 31 March 2017

170,236

28,308

198,544

Depreciation

Charge for period

25,535

7,077

32,612

At 31 March 2017

25,535

7,077

32,612

Net book value

At 31 March 2017

144,701

21,231

165,932

5.

Debtors: amounts falling due within one year

£

Trade debtors

23,565

Other debtors

2,399

VAT

31,169

Prepayments and accrued income

195,722

252,855

6.

Creditors: amounts falling due within one year

£

Hire purchase contracts

83,243

Trade creditors

277,996

Social security and other taxes

4,564

Other creditors

22,700

Net wages payable

1,593

Directors' current accounts

2,940

Accrued expenses

2,195

395,231

7.

Creditors: amounts falling due after more than one year

£

Hire purchase contracts

36,285

8.	Secured debts

The following secured debts are included within creditors:

£

Hire purchase contracts

119,528

Amounts owed under hire purchase are secured against the assets to which they relate.

9.	Provisions for liabilities

£

Deferred tax

5,784

Deferred

tax

£

Charge to Statement of comprehensive income during period

5,784

Balance at 31 March 2017

5,784

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary A

£1

100

100 Ordinary A shares of £1 each were allotted and fully paid for cash at par during the period.

11.	Ultimate controlling party

No individual shareholder is deemed to have ultimate control but the directors manage the day to day operations of the

company.