Guaranteed Waterproofing Systems Ltd Small abridged accounts
Guaranteed Waterproofing Systems Ltd Small abridged accounts
STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS |
COMPANY REGISTRATION NUMBER:
08189019
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ABRIDGED FINANCIAL STATEMENTS |
YEAR ENDED 31 AUGUST 2017
CONTENTS |
PAGE |
Chartered accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements |
1 |
Abridged statement of financial position |
2 |
Notes to the abridged financial statements |
4 |
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CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF
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YEAR ENDED 31 AUGUST 2017
Onega House
112 Main Road
Sidcup
Kent
DA14 6NE
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ABRIDGED STATEMENT OF FINANCIAL POSITION |
2017 |
2016 |
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Note |
£ |
£ |
£ |
CURRENT ASSETS
Debtors |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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ABRIDGED STATEMENT OF FINANCIAL POSITION (continued) |
2017 |
2016 |
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Note |
£ |
£ |
£ |
CAPITAL AND RESERVES
Called up share capital |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
4 May 2018
, and are signed on behalf of the board by:
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Director |
Company registration number:
08189019
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NOTES TO THE ABRIDGED FINANCIAL STATEMENTS |
YEAR ENDED 31 AUGUST 2017
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Onega House, 112 Main Road, Sidcup, Kent, DA14 6NE, United Kingdom.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 September 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Taxation
Financial instruments
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
6
(2016:
5
).
5.
TAX ON PROFIT
Major components of tax expense
2017 |
2016 |
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£ |
£ |
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Current tax:
UK current tax expense |
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Tax on profit |
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6.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
At 31 August 2017, Mr L Taylor owed £9,999 (2016: £7,666), Ms J Taylor owed £12,840 (2016: £14,224), Mr H Taylor owed £1,940 (2016: £1,155) and Mr E J Taylor owed £824 (2016: the company owed Mr E J Taylor £1,830) Guaranteed Waterproofing Limited. There are no terms attached to the loan provided to the directors and they have been provided by the company interest free.
7.
RELATED PARTY TRANSACTIONS
The company was under the control of Mr H Taylor, Ms J Hards, Mr L Taylor, Mr E J Taylor and
Mr S A Taylor
throughout the current and previous year.
8.
TRANSITION TO FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 September 2015.
No transitional adjustments were required in equity or profit or loss for the year.