Control Solutions & Pipework Services - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05704624 (England and Wales)

Financial Statements

for the Year Ended 31 March 2017

for

Control Solutions & Pipework Services

Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A S Bonehill

S A Bonehill

REGISTERED OFFICE:

701 Stonehouse Park

Sperry Way

Stonehouse

Gloucestershire

GL10 3UT

REGISTERED NUMBER:

05704624 (England and Wales)

ACCOUNTANTS:

GCSD Accountants Limited

Chartered Accountants

701 Stonehouse Park

Sperry Way

Stonehouse

Gloucestershire

GL10 3UT

FIXED ASSETS

Intangible assets

4

7,500

15,000

Tangible assets

5

97,152

89,629

104,652

104,629

CURRENT ASSETS

Stocks

82,463

65,205

Debtors

252,616

297,741

Cash at bank

34,695

120,572

369,774

483,518

CREDITORS

Amounts falling due within one year

163,498

149,181

NET CURRENT ASSETS

206,276

334,337

TOTAL ASSETS LESS CURRENT LIABILITIES

310,928

438,966

CREDITORS

Amounts falling due after more than one year

(22,978

)

(31,395

)

PROVISIONS FOR LIABILITIES

(12,793

)

(15,478

)

NET ASSETS

275,157

392,093

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

275,057

391,993

SHAREHOLDERS' FUNDS

275,157

392,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 11 September 2017 and were signed on its behalf by:

A S Bonehill - Director

1.	STATUTORY INFORMATION

Control Solutions & Pipework Services Limited is a private company, limited by shares , registered in

England and Wales. The 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

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 net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twelve years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Short leasehold

-

20% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making

due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

100,000

AMORTISATION

At 1 April 2016

85,000

Amortisation for year

7,500

At 31 March 2017

92,500

NET BOOK VALUE

At 31 March 2017

7,500

At 31 March 2016

15,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

240,796

Additions

55,683

Disposals

(36,624

)

At 31 March 2017

259,855

DEPRECIATION

At 1 April 2016

151,167

Charge for year

37,013

Eliminated on disposal

(25,477

)

At 31 March 2017

162,703

NET BOOK VALUE

At 31 March 2017

97,152

At 31 March 2016

89,629

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases

are as follows:

Totals

£

COST

At 1 April 2016

69,627

Additions

3,245

At 31 March 2017

72,872

DEPRECIATION

At 1 April 2016

34,529

Charge for year

9,586

At 31 March 2017

44,115

NET BOOK VALUE

At 31 March 2017

28,757

At 31 March 2016

35,098