Redwood Cable Projects Limited - Accounts to registrar (filleted) - small 17.3
Redwood Cable Projects Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| FOR |
| REDWOOD CABLE PROJECTS LIMITED |
| REDWOOD CABLE PROJECTS LIMITED (REGISTERED NUMBER: 06894667) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| REDWOOD CABLE PROJECTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| REDWOOD CABLE PROJECTS LIMITED (REGISTERED NUMBER: 06894667) |
| BALANCE SHEET |
| 31 AUGUST 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| 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. |
| REDWOOD CABLE PROJECTS LIMITED (REGISTERED NUMBER: 06894667) |
| BALANCE SHEET - continued |
| 31 AUGUST 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 its behalf by: |
| REDWOOD CABLE PROJECTS LIMITED (REGISTERED NUMBER: 06894667) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| 1. | STATUTORY INFORMATION |
| Redwood Cable Projects Limited is a |
| Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The financial statements are rounded to the nearest £1. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis on the grounds that current |
| and future sources of funding or support will be more than adequate for the company's needs. The |
| directors have considered a period of twelve months from the date of approval of the financial |
| statements and believe that no further disclosures relating to the company's ability to continue as a |
| going concern need to be made in the financial statements. |
| The company adopted FRS 102 1A in the current period and an explanation of how transition to FRS |
| 102 1A has affected the reported financial position and performance is given in the notes to the |
| financial statements. |
| The significant accounting policies applied in the preparation of these financial statements are set out |
| below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| The turnover shown in the profit and loss account represents the value of work done in the year, |
| including the value of work in progress. Turnover in respect of long term contracts is recognised by |
| reference to stage of completion. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation |
| and accumulated impairment losses. Cost includes costs directly attributable to making the asset |
| capable of operating as intended. |
| 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. |
| REDWOOD CABLE PROJECTS LIMITED (REGISTERED NUMBER: 06894667) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| 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 taxation |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to profit or loss in the period to which they relate. |
| Debtors and creditors receivable/payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are |
| recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
| account in other administrative expenses. |
| Impairment of assets |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
| each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's |
| cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
| exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is |
| carried at a revalued amount where the impairment loss is a revaluation decrease. |
| Provisions |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of |
| a past event, it is probable that an outflow of economic benefits will be required in settlement and the |
| amount can be reliably estimated. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| REDWOOD CABLE PROJECTS LIMITED (REGISTERED NUMBER: 06894667) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2016 |
| Additions |
| At 31 August 2017 |
| DEPRECIATION |
| At 1 September 2016 |
| Charge for year |
| At 31 August 2017 |
| NET BOOK VALUE |
| At 31 August 2017 |
| At 31 August 2016 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2016 |
| and 31 August 2017 |
| DEPRECIATION |
| At 1 September 2016 |
| Charge for year |
| At 31 August 2017 |
| NET BOOK VALUE |
| At 31 August 2017 |
| At 31 August 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | - | 14,955 |
| Corporation tax recoverable |
| Prepayments and accrued income |
| REDWOOD CABLE PROJECTS LIMITED (REGISTERED NUMBER: 06894667) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Other loans | 4,000 | - |
| Directors' current accounts | 21,542 | 21,905 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts |
| Other loans | - | 13,500 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts | 10,846 | 18,346 |
| The hire purchase contracts are secured on the assets being financed. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances | 9,582 | 8,538 |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2016 |
| Charge to Income Statement during year |
| Balance at 31 August 2017 |
| REDWOOD CABLE PROJECTS LIMITED (REGISTERED NUMBER: 06894667) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 August 2017 and |
| 31 August 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| No interest was charged on the above loan. |
| 13. | RELATED PARTY DISCLOSURES |
| Key management personnel of the entity (in the aggregate) |
| 2017 | 2016 |
| £ | £ |
| Amount due to related party | 21,543 | 21,905 |
| 14. | FIRST YEAR ADOPTION |
| The company has adopted FRS 102 1A for the first time in the year ended 31 August 2017. |
| The directors have considered the consequential changes in accounting policies resulting from the |
| adoption of FRS 102 1A and have concluded that no transition adjustments are required. The date of |
| transition to FRS 102 1A was 1 September 2015. |