Contract Design (Northern) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02121749 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

CONTRACT DESIGN (NORTHERN) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Douglass

P B Douglass

E Douglass

H Guariento

SECRETARY:

P B Douglass

REGISTERED OFFICE:

3rd Floor Bulman House

Regent Centre

Newcastle upon Tyne

NE3 1DQ

REGISTERED NUMBER:

02121749 (England and Wales)

ACCOUNTANTS:

Robson Laidler Accountants Limited

Fernwood House

Fernwood Road

Jesmond

Newcastle upon Tyne

Tyne and Wear

NE2 1TJ

FIXED ASSETS

Tangible assets

5

244,212

282,315

Investments

6

37,747

37,747

281,959

320,062

CURRENT ASSETS

Debtors

7

649,807

761,458

Cash at bank and in hand

921,245

802,278

1,571,052

1,563,736

CREDITORS

Amounts falling due within one year

8

404,587

426,610

NET CURRENT ASSETS

1,166,465

1,137,126

TOTAL ASSETS LESS CURRENT LIABILITIES

1,448,424

1,457,188

CREDITORS

Amounts falling due after more than one year

9

(119,132

)

(135,223

)

PROVISIONS FOR LIABILITIES

12

-

(1,766

)

NET ASSETS

1,329,292

1,320,199

CAPITAL AND RESERVES

Called up share capital

13

7,000

7,000

Capital redemption reserve

3,000

3,000

Retained earnings

1,319,292

1,310,199

SHAREHOLDERS' FUNDS

1,329,292

1,320,199

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

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

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.

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 Board of Directors on 2 March 2018 and were signed on its behalf by:

P B Douglass - Director

1.	STATUTORY INFORMATION

Contract Design (Northern) Limited is a private company, limited by shares , registered in England and

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

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company adopted FRS 102 Section 1A in the current period and an explanation of how transition

to FRS 102 Section 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.

Preparation of consolidated financial statements

The financial statements contain information about Contract Design (Northern) Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated

financial statements.

Turnover

Rendering of services

Turnover from the provision of design and engineering services, the supply of technical personnel and

translation and interpreting services is recognised when the outcome of a contract can be estimated

reliably and is recognised by reference to the stage of completion of the contract.

Tangible fixed assets

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

Freehold property

-

2% straight line basis

Fixtures and fittings

-

10% reducing balance basis

Motor vehicles

-

25% straight line basis

Office equipment

-

25% straight line and 25% on reducing balance

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account as incurred.

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 31 (2016 - 36 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Office

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2016

193,072

4,590

108,915

67,929

374,506

Additions

-

-

-

2,331

2,331

At 30 June 2017

193,072

4,590

108,915

70,260

376,837

DEPRECIATION

At 1 July 2016

3,218

1,912

46,285

40,776

92,191

Charge for year

3,861

268

26,594

9,711

40,434

At 30 June 2017

7,079

2,180

72,879

50,487

132,625

NET BOOK VALUE

At 30 June 2017

185,993

2,410

36,036

19,773

244,212

At 30 June 2016

189,854

2,678

62,630

27,153

282,315

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2016

and 30 June 2017

37,747

NET BOOK VALUE

At 30 June 2017

37,747

At 30 June 2016

37,747

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

616,542

663,897

Other debtors

-

100

Deferred tax asset

Accelerated capital allowances

3,516

-

Prepayments and accrued income

29,749

97,461

649,807

761,458

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts (see note 10)

15,423

14,343

Trade creditors

74,039

75,901

Amounts owed to group undertakings

38,651

33,412

Corporation tax

2,814

-

Social security and other taxes

122,059

133,911

Other creditors

2,135

2,704

Directors' loans

15,615

16,254

Accruals and deferred income

133,851

150,085

404,587

426,610

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans (see note 10)

119,132

135,223

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years

54,919

74,910

10.

LOANS

An analysis of the maturity of loans is given below:

2017

2016

£

£

Amounts falling due within one year or on demand:

Bank loans

15,423

14,343

Amounts falling due between one and two years:

Bank loans - 1-2 years

15,783

14,583

Amounts falling due between two and five years:

Bank loans - 2-5 years

48,430

45,730

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years

54,919

74,910

11.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

134,555

149,566

The bank loan is secured on the company's freehold property.

12.	PROVISIONS FOR LIABILITIES

2016

£

Deferred tax

Accelerated capital allowances

1,766

Deferred

tax

£

Balance at 1 July 2016

1,766

Credit to Income Statement during year

(5,282

)

Balance at 30 June 2017

(3,516

)

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

7,000

Ordinary

£1

7,000

7,000

14.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries within the group.

During the year, total dividends of £7,000 (2016 - £7,000) were paid to the directors .

Entities over which the entity has control, joint control or significant influence

2017

2016

£

£

Management charges receivable

9,600

9,600

Amount due to related party

19,643

14,403

Key management personnel of the entity (in the aggregate)

2017

2016

£

£

Loan interest payable

239

781

15.	FIRST YEAR ADOPTION

The company has adopted FRS 102 Section 1A for the first time in the year ended 30 June 2017.

The directors have considered the consequential changes in accounting policies resulting from the

adoption of FRS 102 Section 1A and have concluded that no transition adjustments are required. The

date of transition to FRS 102 Section 1A was 1 July 2015.