Enterprise Management (Cardiff) Limited trading as SE Trading Company Accounts
Enterprise Management (Cardiff) Limited trading as SE Trading Company Accounts
COMPANY REGISTRATION NUMBER:
05091959
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Financial Statements |
Year ended 31 May 2017
Contents |
Page |
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements |
1 |
Statement of financial position |
2 |
Notes to the financial statements |
3 |
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Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 31 May 2017
1st Floor, Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
6 |
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Cash at bank and in hand |
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-------- |
------- |
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Creditors: amounts falling due within one year |
7 |
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-------- |
------- |
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Net current assets/(liabilities) |
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(
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------- |
------- |
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Total assets less current liabilities |
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------- |
---- |
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Net assets |
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------- |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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------- |
---- |
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Members funds |
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------- |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
29 September 2017
, and are signed on behalf of the board by:
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Director |
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Company registration number:
05091959
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Notes to the Financial Statements |
Year ended 31 May 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 Garth Drive, Brackla Industrial Estate, Coity, Bridgend, CF31 2AQ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery |
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Equipment |
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25% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2016:
1
).
5.
Tangible assets
Plant and machinery |
Equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 June 2016 |
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– |
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Additions |
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4,985 |
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At 31 May 2017 |
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4,985 |
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------- |
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Depreciation |
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At 1 June 2016 |
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– |
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Charge for the year |
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1,246 |
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At 31 May 2017 |
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1,246 |
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Carrying amount |
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At 31 May 2017 |
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3,739 |
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------- |
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At 31 May 2016 |
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– |
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------- |
------- |
------- |
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6.
Debtors
2017 |
2016 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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– |
------- |
------- |
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------- |
------- |
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7.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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-------- |
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8.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2017 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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(
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(
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(
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------- |
------- |
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2016 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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(
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(2,756) |
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9.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.
No transitional adjustments were required in equity or profit or loss for the year.