CLYDE CONTRACTS & SUPPLIES LIMITED - Accounts to registrar - small 17.1

REGISTERED NUMBER: SC130933 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

CLYDE CONTRACTS & SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K WILKINSON

REGISTERED OFFICE:

53

HIGH STREET

DUMBARTON

G82 ILS

REGISTERED NUMBER:

SC130933 (Scotland)

ACCOUNTANTS:

A&J ACCOUNTANTS LTD

1st Floor, 53 High Street

Dumbarton

G82 1LS

FIXED ASSETS

Tangible assets

4

52,865

55,880

CURRENT ASSETS

Stocks

9,162

175,043

Debtors

5

77,217

16,585

Cash at bank

69,840

49,077

156,219

240,705

CREDITORS

Amounts falling due within one year

6

99,114

128,806

NET CURRENT ASSETS

57,105

111,899

TOTAL ASSETS LESS CURRENT LIABILITIES

109,970

167,779

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

109,968

167,777

SHAREHOLDERS' FUNDS

109,970

167,779

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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.

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 17 November 2017 and were signed by:

K WILKINSON - Director

1.	STATUTORY INFORMATION

CLYDE CONTRACTS & SUPPLIES LIMITED is a private company, limited by shares ,

registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

262,100

Additions

24,751

Disposals

(30,182

)

At 30 April 2017

256,669

DEPRECIATION

At 1 May 2016

206,220

Charge for year

15,066

Eliminated on disposal

(17,482

)

At 30 April 2017

203,804

NET BOOK VALUE

At 30 April 2017

52,865

At 30 April 2016

55,880

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

77,217

16,103

Other debtors

-

482

77,217

16,585

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Hire purchase contracts

35,800

22,631

Trade creditors

36,276

24,607

Taxation and social security

25,934

32,307

Other creditors

1,104

49,261

99,114

128,806