Concept Roofing & Cladding Services Ltd - Accounts to registrar (filleted) - small 18.1

CONCEPT ROOFING & CLADDING SERVICES

LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S J Webb

SECRETARY:

Mrs L M Brickell

REGISTERED OFFICE:

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

REGISTERED NUMBER:

03008236 (England and Wales)

ACCOUNTANTS:

Compass Accountants Limited

Chartered Accountants

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

BANKERS:

Natwest Bank PLC

52 West Street

Fareham

Hampshire

PO16 0JX

FIXED ASSETS

Tangible assets

3

40,153

19,167

CURRENT ASSETS

Stocks

52,008

398,500

Debtors

4

534,763

756,478

Cash at bank

289,967

105,498

876,738

1,260,476

CREDITORS

Amounts falling due within one year

5

892,818

1,085,317

NET CURRENT (LIABILITIES)/ASSETS

(16,080

)

175,159

TOTAL ASSETS LESS CURRENT LIABILITIES

24,073

194,326

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

23,973

194,226

SHAREHOLDERS' FUNDS

24,073

194,326

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 10 April 2018 and were signed by:

S J Webb - Director

1.	STATUTORY INFORMATION

Concept Roofing & Cladding Services 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents net invoiced work done, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks and work in progress

Stock and work in progress 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 balance sheet date.

Deferred tax

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Frs 102 transition

These financial statements are the first financial statements of Concept Roofing and Cladding Services Ltd

prepared in accordance with Financial Reporting Standard 102 (section 1A) 'The Financial Reporting Standard

applicable in the UK and Republic of Ireland' (FRS 102 1A). The financial statements of Concept Roofing and

Cladding Services Ltd for the year ended 31 July 2016 were prepared in accordance with the Financial

Reporting Standard for Smaller Entities April 2008. The transition date to FRS 102 1A is 1 August 2015.

Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting

policy choices differ from the Financial Reporting Standard for Smaller Entities April 2008. Consequently, the

directors have amended certain accounting policies to comply with FRS 102 1A. The directors have also taken

advantage of certain exemptions from the requirements of FRS 102 1A permitted by FRS 102 Chapter 35

'Transition to this FRS'.

It has not been necessary to restate the comparative figures as the directors have taken advantage of

exemptions of retrospective application of FRS 102 1A permitted by FRS 102 Chapter 35 'Transition to this FRS'.

3.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 August 2016

2,220

24,044

10,052

36,316

Additions

-

-

27,173

27,173

At 31 July 2017

2,220

24,044

37,225

63,489

DEPRECIATION

At 1 August 2016

857

9,278

7,014

17,149

Charge for year

204

2,215

3,768

6,187

At 31 July 2017

1,061

11,493

10,782

23,336

NET BOOK VALUE

At 31 July 2017

1,159

12,551

26,443

40,153

At 31 July 2016

1,363

14,766

3,038

19,167

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

264,249

465,848

Other debtors

270,514

290,630

534,763

756,478

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

672

-

Trade creditors

260,938

642,302

Amounts owed to group undertakings

24,547

107,547

Taxation and social security

86,899

53,206

Other creditors

519,762

282,262

892,818

1,085,317

6.	RELATED PARTY DISCLOSURES

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director, Mr S Webb being a 100% shareholder and sole director of CRCG

Limited the holding company.