Corbett & Sons Limited - Accounts to registrar (filleted) - small 17.3
Corbett & Sons Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2017 |
| for |
| CORBETT & SONS LIMITED |
| CORBETT & SONS LIMITED (REGISTERED NUMBER: 01046722) |
| Contents of the Financial Statements |
| for the year ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| CORBETT & SONS LIMITED |
| Company Information |
| for the year ended 31 March 2017 |
| Director: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| Coopers House |
| 65a Wingletye Lane |
| Hornchurch |
| Essex |
| RM11 3AT |
| CORBETT & SONS LIMITED (REGISTERED NUMBER: 01046722) |
| Balance Sheet |
| 31 March 2017 |
| 31.3.17 | 31.3.16 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 3 |
| Current assets |
| Stock and work in progress |
| Debtors | 4 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 5 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 7 |
| Retained earnings | 8 |
| Shareholders' funds |
| 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 |
| CORBETT & SONS LIMITED (REGISTERED NUMBER: 01046722) |
| Notes to the Financial Statements |
| for the year ended 31 March 2017 |
| 1. | Statutory information |
| Corbett & Sons 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 |
| This is the first year in which the financial statements have been prepared under FRS 102. Transition to FRS |
| 102 has not resulted in any changes in accounting policies, amounts stated in the Statement of Comprehensive |
| Income or balances held in equity. |
| Turnover |
| Turnover represents services invoiced excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Work in progress |
| Work in progress is valued at the sale value of the percentage of contract completed at balance sheet date. |
| 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. |
| 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. |
| 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. |
| CORBETT & SONS LIMITED (REGISTERED NUMBER: 01046722) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2017 |
| 3. | Tangible fixed assets |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 April 2016 |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 March 2017 |
| Depreciation |
| At 1 April 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2017 |
| Net book value |
| At 31 March 2017 |
| At 31 March 2016 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| Cost |
| At 1 April 2016 |
| and 31 March 2017 |
| Depreciation |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| Net book value |
| At 31 March 2017 |
| At 31 March 2016 |
| 4. | Debtors: amounts falling due within one year |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | - | 29,168 |
| Taxation recoverable |
| Other debtors and prepayments |
| CORBETT & SONS LIMITED (REGISTERED NUMBER: 01046722) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2017 |
| 5. | Creditors: amounts falling due within one year |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | Creditors: amounts falling due after more than one year |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Hire purchase contracts |
| 7. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.17 | 31.3.16 |
| value: | £ | £ |
| Ordinary | £1 |
| 8. | Reserves |
| Retained |
| earnings |
| £ |
| At 1 April 2016 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 March 2017 |
| 9. | Director's advances, credits and guarantees |
| The following advances and credits to a director subsisted during the years ended 31 March 2017 and |
| 31 March 2016: |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| 10. | Ultimate controlling party |
| The controlling party is Mr J M Corbett. |