Central Hydraulic Loaders Limited Company Accounts
Central Hydraulic Loaders Limited Company Accounts
COMPANY REGISTRATION NUMBER:
3044515
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Financial Statements |
Year ended 31 July 2017
Contents |
Pages |
Officers and professional advisers |
1 |
Directors' report |
2 |
Statement of financial position |
3 to 4 |
Notes to the financial statements |
5 to 10 |
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Officers and Professional Advisers |
The board of directors |
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Company secretary |
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Registered office |
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Accountants |
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Chartered Certified Accountants |
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Chartwells House |
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1 St Josephs Court |
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Trindle Road |
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Dudley |
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West Midlands |
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DY2 7AU |
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Bankers |
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10 Market Street |
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Tamworth |
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Staffordshire |
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B79 7LZ |
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Solicitors |
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Windsor House |
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Temple Row |
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Birmingham |
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B79 5BY |
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Directors' Report |
Year ended 31 July 2017
The directors present their report and the unaudited financial statements of the company for the year ended
31 July 2017
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Directors
The directors who served the company during the year were as follows:
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Small company provisions
This report was approved by the board of directors on
7 December 2017
and signed on behalf of the board by:
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Director |
Registered office: |
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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Provisions
Taxation including deferred tax |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its 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 financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
7 December 2017
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Director |
Director |
Company registration number:
3044515
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Notes to the Financial Statements |
Year ended 31 July 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Central House, Hedging Lane, Wilnecote, Tamworth, Staffordshire, B77 5HH.
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 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
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:
Freehold property |
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Plant and machinery |
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Fixtures and fittings |
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Motor vehicles |
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25% reducing balance or the estimated useful life of
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Impairment of fixed assets
Stocks
Finance leases and hire purchase contracts
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
17
(2016:
18
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5.
Tangible assets
Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 August 2016 |
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Additions |
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– |
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Disposals |
– |
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– |
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(
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At 31 July 2017 |
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Depreciation |
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At 1 August 2016 |
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Charge for the year |
– |
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– |
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Disposals |
– |
– |
– |
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At 31 July 2017 |
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Carrying amount |
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At 31 July 2017 |
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At 31 July 2016 |
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6.
Debtors
2017 |
2016 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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The bank overdraft facility is secured by way of a fixed charge over book debt and a floating charge over all other assets dated 14 June 1995.
The mortgage is secured by way of a debenture dated 4 April 2003 over the premises at Hedging Lane, Dosthill, Tamworth.
8.
Creditors:
amounts falling due after more than one year
2017 |
2016 |
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£ |
£ |
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Bank loans and overdrafts |
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Other creditors |
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The bank overdraft facility is secured by way of a fixed charge over book debt and a floating charge over all other assets dated 14 June 1995.
The mortgage is secured by way of a debenture dated 4 April 2003 over the premises at Hedging Lane, Dosthill, Tamworth.
9.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2017 |
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Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
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£ |
£ |
£ |
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(
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(
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2016 |
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Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
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£ |
£ |
£ |
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(
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(
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10.
Related party transactions
The company was not under overall control during the year of any one individual, however
Mrs T E Sharratt
is the managing director and a shareholder of the company. During the year the company paid loan interest to the directors amounting to £0 (2016 - £1,374). The above transaction has been undertaken at arms length on normal commercial terms.
11.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 August 2015.
No transitional adjustments were required in equity or profit or loss for the year.