Clydesdale Group Limited - Accounts to registrar (filleted) - small 17.3
Clydesdale Group Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| CLYDESDALE GROUP LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| CLYDESDALE GROUP LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| BANKERS: |
| 3 Carlton Crescent |
| Southampton |
| Hampshire |
| SO15 2EY |
| CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154) |
| BALANCE SHEET |
| 31 MARCH 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154) |
| BALANCE SHEET - continued |
| 31 MARCH 2017 |
| 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 by: |
| CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| Clydesdale Group 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 |
| These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards |
| applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as |
| applicable to companies subject to the small companies' regime. |
| The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure |
| is required to show a true and fair view. |
| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary |
| amounts in these financial statements are rounded to the nearest £1. |
| The financial statements have been prepared under the historical cost convention, modified to include certain |
| financial instruments at fair value. The principal accounting policies adopted are set out below. |
| These financial statements are the first financial statements the company has prepared in accordance with |
| Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
| Ireland' (FRS 102), as applied to smaller entities by the adoption of Section 1A of FRS 102. The financial |
| statements for the year ended 31 March 2016 were prepared in accordance with previous UK GAAP. |
| Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting policy |
| choices differ from previous UK GAAP. Consequently, the directors have amended certain accounting policies |
| to comply with FRS 102. There have been no transitional adjustments |
| Turnover |
| Turnover represents the value of services provided under contracts to the extent that there is a right to |
| consideration and is recorded at the value of the consideration due. |
| Where a contract has only been partially completed at the balance sheet date turnover represents the value of the |
| service provided to date based on a proportion of the total expected consideration at completion. Where |
| payments are received from customers in advance of services provided, the amounts are recorded as deferred |
| income and included as part of creditors due within one year. |
| Tangible fixed assets |
| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and |
| the carrying value of the asset and is recognised in the income statement. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
| 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. |
| CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 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 the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Financial assets |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 |
| 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
| Financial assets are recognised in the company's statement of financial position when the company becomes |
| party to the contractual provisions of the instrument. |
| Basic financial assets, which include trade and other receivables and cash and bank balances are initially |
| measured at transaction price including transaction costs and are subsequently carried at amortised cost using the |
| effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is |
| measured at the present value of the future receipts discounted at a market rate of interest. |
| Financial liabilities |
| Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and |
| subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the |
| debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
| Equity instruments |
| Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct |
| issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the |
| discretion of the company. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Office | Motor | Computer |
| machinery | Equipment | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 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 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts |
| CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Hire Purchase | 16,567 | 20,256 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2017 and |
| 31 March 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| No interest has been charged on these loans during the year. |