S & W Process Engineering Limited - Accounts to registrar (filleted) - small 17.3
S & W Process Engineering Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| S & W PROCESS ENGINEERING LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| S & W PROCESS ENGINEERING LIMITED (REGISTERED NUMBER: 01821602) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| S & W PROCESS ENGINEERING LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 4 Henley Way |
| Doddington Road |
| Lincoln |
| Lincolnshire |
| LN6 3QR |
| BANKERS: |
| Huntingdon Branch |
| 92 High Street |
| Huntingdon |
| PE29 3DT |
| SOLICITORS: |
| 10 Pinchbeck Road |
| Spalding |
| Lincolnshire |
| PE11 1PZ |
| S & W PROCESS ENGINEERING LIMITED (REGISTERED NUMBER: 01821602) |
| STATEMENT OF FINANCIAL POSITION |
| 30 JUNE 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Investments | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| S & W PROCESS ENGINEERING LIMITED (REGISTERED NUMBER: 01821602) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 JUNE 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 director on |
| S & W PROCESS ENGINEERING LIMITED (REGISTERED NUMBER: 01821602) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 1. | STATUTORY INFORMATION |
| S & W Process Engineering Limited is a |
| 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 (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| The financial statements for the year ended 30 June 2017 are the first financial statements of S & W Process |
| Engineering Limited prepared in accordance with FRS 102. Adjustments required on transition are set out in |
| the notes to the financial statements. |
| Revenue recognition |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Services provided to clients during the year, which at the balance sheet date have not been billed to clients, |
| have been recognised as turnover in accordance with the Financial Reporting Standard 5 'Reporting the |
| substance of transactions : Application Note G Revenue Recognition'. Turnover recognised in this manner is |
| based on an assessment of the fair value of the services provided at the balance sheet date as a proportion of |
| the total value of the engagement. Provision is made against unbilled amounts on those engagements where |
| the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is |
| included in debtors. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Land is not depreciated. |
| 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 have been enacted or |
| substantively enacted by the statement of financial position date. |
| S & W PROCESS ENGINEERING LIMITED (REGISTERED NUMBER: 01821602) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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 |
| statement of financial position 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 income statement 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 the income statement in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2017 |
| DEPRECIATION |
| At 1 July 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| Included in cost of land and buildings is freehold land of £ 72,414 (2016 - £ 72,414 ) which is not depreciated. |
| S & W PROCESS ENGINEERING LIMITED (REGISTERED NUMBER: 01821602) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| 6. | CURRENT ASSET INVESTMENTS |
| 2017 | 2016 |
| £ | £ |
| Unlisted investments | 253,500 | 105,035 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Payments on account |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 951 | 951 |
| S & W PROCESS ENGINEERING LIMITED (REGISTERED NUMBER: 01821602) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 June 2017 and |
| 30 June 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |