Containerking Limited
Containerking Limited
Registered number: 03402386
Unaudited Financial Statements
For The Year Ended 31 July 2017
Containerking Limited
Unaudited Financial Statements
For The Year Ended 31 July 2017
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | undefined—7 |
Containerking Limited
Balance Sheet
As at
31 July 2017
Balance Sheet
Registered number:
03402386
For the year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| Investments | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Debtors | 6 |
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| Investments | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 9 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 11 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 12 |
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| Revaluation reserve |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 1,225,164 | 1,205,954 | |||
Page 1
Containerking Limited
Balance Sheet (continued)
As at
31 July 2017
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his 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
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The notes on pages 3 to 7 form part of these financial statements.
Page 2
Containerking Limited
Notes to the Unaudited Accounts
For The Year Ended 31 July 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:
| Freehold |
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| Plant & Machinery |
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| Motor Vehicles |
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| Computer Equipment |
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1.4.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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 includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.7.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2017 | 2016 | ||
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| Office and administration |
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Page 3
Containerking Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 July 2017
3.
Tangible Assets
| Land & Property | |||||
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| Freehold | Plant & Machinery | Motor Vehicles | Computer Equipment | Total | |
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| Additions |
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| Disposals |
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| Depreciation | |||||
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| Provided during the period |
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| Disposals |
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| Net Book Value | |||||
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4.
Investments
| Listed | |
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| £ | |
| Cost | |
| As at |
100 |
| As at |
100 |
| Provision | |
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| As at |
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| Net Book Value | |
| As at |
100 |
| As at |
100 |
Details of the investments in which the company holds 20% of more of the nominal value of any class of share capital are as follows:
Containerking Limited owns 100% of the shares in Cabinking Limited, a dormant company registered in England and Wales
Page 4
Containerking Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 July 2017
5.
Stocks
| 2017 | 2016 | ||
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| £ | £ | ||
| Stock - work in progress |
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6.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Director's loan account | 22,996 | 63,533 | |
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| Due after more than one year | |||
| Other debtors |
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7.
Current Asset Investments
| 2017 | 2016 | ||
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| £ | £ | ||
| Listed investments | 56,318 | 195,846 | |
| Other investments, held for sale |
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8.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Bank loans and overdrafts | - |
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| Corporation tax |
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| Other creditors |
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Page 5
Containerking Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 July 2017
9.
Creditors: Amounts Falling Due After More Than One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Bank loans |
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Of the creditors falling due within and after more than one year the following amounts are due after more than five years.
| 2017 | 2016 | ||
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| £ | £ | ||
| Bank loans and overdrafts | - | 76,525 |
10.
Obligations Under Finance Leases and Hire Purchase
| 2017 | 2016 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
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| Between one and five years |
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11.
Deferred Taxation
| 2017 | 2016 | ||
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| £ | £ | ||
| As at |
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| Origination and reversal of timing differences |
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| Deferred tax |
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The provision for deferred taxation is made up of accelerated capital allowances
Page 6
Containerking Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 July 2017
13.
Transactions With and Loans to Directors
Included within Debtors are the following loans to directors:
| As at |
Amounts advanced | Amounts repaid | As at |
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| £ | £ | £ | £ | |
| Mr Stephen Empson |
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Interest is charged at the official rate whilst the above loan was outstanding. The balance was repaid within 9 months of the year end.
14.
General Information
Containerking Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03402386 . The registered office is Rowland Road, Scunthorpe, DN16 1TL.
Page 7