Clydeforth Engineers & Contractors Ltd Small abridged accounts
Clydeforth Engineers & Contractors Ltd Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
SC130143
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For the year ended |
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Abridged Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Abridged statement of financial position |
1 |
Notes to the abridged financial statements |
3 |
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Debtors |
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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 |
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--------- |
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Net current assets |
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--------- |
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Total assets less current liabilities |
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Provisions
Taxation including deferred tax |
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--------- |
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Net assets |
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--------- |
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Abridged Statement of Financial Position (continued) |
2017 |
2016 |
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Note |
£ |
£ |
£ |
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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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
28 December 2017
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
SC130143
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Notes to the Abridged Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Barclay Curle Complex, Enterprise House, 739 South Street, Unit 20, Glasgow, G14 0BX.
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 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Revenue recognition
Taxation
Operating leases
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 and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
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Impairment of fixed assets
Finance leases and hire purchase contracts
Financial instruments
Defined contribution pension plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
16
(2016:
16
).
5.
Tangible assets
£ |
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Cost |
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At 1 April 2016 |
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Additions |
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--------- |
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At 31 March 2017 |
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--------- |
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Depreciation |
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At 1 April 2016 |
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Charge for the year |
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--------- |
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At 31 March 2017 |
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--------- |
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Carrying amount |
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At 31 March 2017 |
49,838 |
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At 31 March 2016 |
63,571 |
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6.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2017 |
2016 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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-------- |
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7.
Charges on assets
Creditors include obligations under hire purchase contracts of £0 (2016 - £5,640) which are secured on assets of the company.
8.
Related party transactions
Dividends of £0 (2016 - £120,000) were paid to the shareholders in the year.
9.
Controlling party
Lilybank Trading Company Limited, a company incorporated in Scotland, holds a 50% shareholding in the company. Lilybank Trading Company Limited is controlled by Mr
A G Gilchrist
, a director, and members of his close family.
10.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.