CSD_EPITAXY_LIMITED - Accounts

CSD EPITAXY LIMITED - Company Information

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Company Registration No. 02419102 (England and Wales)

CSD EPITAXY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 OCTOBER 2016

CSD EPITAXY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

CSD EPITAXY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 OCTOBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

Current assets

Debtors

1,726,706

2,135,243

Cash at bank and in hand

548

1,726,706

2,135,791

Creditors: amounts falling due within one year

(20,924)

(569,425)

Net current assets

1,705,782

1,566,366

Total assets less current liabilities

1,705,783

1,566,367

Capital and reserves

Called up share capital

301

Profit and loss account

1,705,482

1,566,066

Shareholders' funds

1,705,783

1,566,367

For the financial Period ended 30 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 20 October 2017

A R Goode

Director

Company Registration No. 02419102

CSD EPITAXY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 30 OCTOBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements show the company to have net liabilities of £743,923 (2013 £743,923) and current liabilities exceed current assets by £1,960,564 (2013 £1,960,564).

In determining the appropriate basis of preparation of the financial statements, the director is required to consider whether the company can continue in operational existence for the foreseeable future.

The director has prepared the accounts on a going concern basis as, not withstanding the withdrawal of the support from the bank, in his opinion the company will continue to receive adequate support from its major creditors, which includes its subsidiary and connected undertakings. The company operates in an industry related to capital expenditure which is cyclical in nature. The director is continuing to market the company and group's products and services.

The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern, which would include writing down the carrying value of assets to their recoverable amount and providing for any further liabilities that might arise, as it is not practicable to determine or quantify them.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% - 33% straight line

1.4

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.5

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

CSD EPITAXY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 30 OCTOBER 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 November 2015 & at 30 October 2016

65,451

Depreciation

At 1 November 2015 & at 30 October 2016

65,450

Net book value

At 30 October 2016

At 31 October 2015

CSD EPITAXY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 30 OCTOBER 2016

- 4 -

Share capital

2016

2015

Allotted, called up and fully paid

181 Ordinary shares of £1 each

181

120 Non participating convertible deferred Ordinary B shares of £1 each

120

301

Transactions with directors

At 1 November 2015 the director owed the company £1,582,975. During the year the director settled liabilities of £341,187 on behalf of the company. At 31 October 2016 the director owed the company £1,241,788.