Underground Drainage Supplies Limited
Underground Drainage Supplies Limited
Registered number: 07275067
Unaudited Financial Statements
For The Year Ended 31 December 2017
Lloyd Richards Ltd
Eaton House
Stoke Prior Lane
Leominster
Herefordshire
HR6 0NA
Underground Drainage Supplies Limited
Unaudited Financial Statements
For The Year Ended 31 December 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Underground Drainage Supplies Limited
Balance Sheet
As at
31 December 2017
Balance Sheet
Registered number:
07275067
For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 7 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Stocks | 8 |
|
|
||
| Debtors | 9 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 10 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year | 11 |
|
( |
||
| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 13 |
( |
( |
||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 14 |
|
|
||
| Profit and Loss Account |
|
|
|||
| SHAREHOLDERS' FUNDS | 101,779 | 64,052 | |||
Page 1
Underground Drainage Supplies Limited
Balance Sheet (continued)
As at
31 December 2017
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
|
|
|
|
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Underground Drainage Supplies Limited
Notes to the Unaudited Accounts
For The Year Ended 31 December 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
|
| Computer Equipment |
|
1.4.
Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit as incurred. Assets held under finance leases and hire purchase agreements are capitalised and depreciated over their useful lives. The outstanding lease or HP debt is shown on the balance sheet as a liability. Interest is charged to the P and L on a monthly basis over the life of the contract based on the reducing outstanding balance of the principal.
1.5.
Stocks and Work in Progress
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 stocks. Cost is the purchase price only of the products.
1.6.
Taxation
In the event of net book value of assets exceeding their written down value for tax purposes provision is made for deferred taxation at the rate of corporation tax applicable at the balance sheet date.
1.7.
Pensions
The company operates a defined contribution scheme managed by The People's Pension compliant with auto-enrolment rules.
1.8.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
4.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2017 | 2016 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Sales, marketing and distribution |
|
|
|
|
|
|
||
Page 3
Underground Drainage Supplies Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 December 2017
7.
Tangible Assets
| Motor Vehicles | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at |
|
|
|
| Disposals |
|
( |
( |
| As at |
|
|
|
| Depreciation | |||
| As at |
|
|
|
| Provided during the period |
|
|
|
| Disposals |
|
( |
( |
| As at |
|
|
|
| Net Book Value | |||
| As at |
|
|
|
| As at |
|
|
|
8.
Stocks
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Stock - finished goods |
|
|
|
|
|
|
||
9.
Debtors
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Sundry debtors |
|
|
|
| Amounts owed by associates |
|
|
|
|
|
|
||
Page 4
Underground Drainage Supplies Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 December 2017
10.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Corporation tax |
|
|
|
| Other taxes and social security |
|
|
|
| VAT |
|
|
|
| Credit cards |
|
|
|
| Sundry creditors |
|
|
|
| Other creditors B&CE Holdings |
|
|
|
| Accruals and deferred income |
|
|
|
| Amounts owed to associates |
|
|
|
|
|
|
||
11.
Creditors: Amounts Falling Due After More Than One Year
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
12.
Obligations Under Finance Leases and Hire Purchase
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
|
|
|
| Between one and five years |
|
|
|
|
|
|
||
|
|
|
||
13.
Deferred Taxation
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| As at |
|
|
|
| Deferred taxation |
( |
( |
|
| Deferred tax |
|
|
|
The provision for deferred taxation is made up of accelerated capital allowances
Page 5
Underground Drainage Supplies Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 December 2017
15.
Transactions With and Loans to Directors
Dividends paid to directors
16.
Dividends
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: |
17.
Ultimate Controlling Party
The company's ultimate controlling party is Newplas Building Products (Global) Limited] by virtue of its ownership of 90% of the issued share capital in the company.
18.
General Information
Underground Drainage Supplies Limited Registered number 07275067 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 1 Jubilee House, 24 Sandown Road, Derby, Derbyshire, DE24 8SR.
Page 6