SPW MECHANICAL ENGINEERS LIMITED

SPW MECHANICAL ENGINEERS LIMITED

SPW MECHANICAL ENGINEERS LIMITED - Company Information

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SPW MECHANICAL ENGINEERS LIMITED

Company Registration Number:
06550422 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2017

Period of accounts

Start date: 01 October 2016

End date: 30 September 2017

SPW MECHANICAL ENGINEERS LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2017

Balance sheet
Notes

SPW MECHANICAL ENGINEERS LIMITED

Balance sheet

As at 30 September 2017


Notes
2017
2016


£
£
Fixed assets
Tangible assets: 2 1,229 1,536
Total fixed assets: 1,229 1,536
Current assets
Stocks: 52,800 9,095
Debtors:   45,314 75,195
Cash at bank and in hand: 405 0
Total current assets: 98,519 84,290
Creditors: amounts falling due within one year: 3 (116,669) (114,938)
Net current assets (liabilities): (18,150) (30,648)
Total assets less current liabilities: (16,921) (29,112)
Provision for liabilities: (345) (345)
Total net assets (liabilities): (17,266) (29,457)
Capital and reserves
Called up share capital: 1 1
Profit and loss account: (17,267) (29,458)
Shareholders funds: (17,266) (29,457)

The notes form part of these financial statements

SPW MECHANICAL ENGINEERS LIMITED

Balance sheet statements

For the year ending 30 September 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 June 2018
and signed on behalf of the board by:

Name: B E Gnyla
Status: Director

The notes form part of these financial statements

SPW MECHANICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT.

Tangible fixed assets and depreciation policy

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.Motor vehicles 20% Reducing balance

Valuation and information policy

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 items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.Long-term and ongoing contracts: turnover represents the value of work done including estimates of amounts not yet invoiced and is recognised by reference to the stage of completion.

Other accounting policies

The company has a deficit on shareholders' funds and relies upon the support of its shareholders and creditors,which has been confirmed for a period of at least twelve months from the approval of the financial statements.Accordingly the directors have prepared the financial statements on the going concern basis.Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.The company operates a defined contribution pension scheme for employees. The annual contributionspayable are charged to the profit and loss account.

SPW MECHANICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2017

2. Tangible Assets

Total
Cost £
At 01 October 2016 3,000
At 30 September 2017 3,000
Depreciation
At 01 October 2016 1,464
Charge for year 307
At 30 September 2017 1,771
Net book value
At 30 September 2017 1,229
At 30 September 2016 1,536

SPW MECHANICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2017

3. Creditors: amounts falling due within one year note

2017 2016Bank loans and overdrafts 0 2992Trade creditors 59769 49914 Other taxation and social security 41839 38327Accruals and deferred income 10680 1216Other creditors 4381 22489

SPW MECHANICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2017

4. Related party transactions

Name of the related party: B E Gnyla
Relationship:
Director
Description of the Transaction: During the year the company's director was repaid £18,108 by the company.£4,381 (2016 £22,489) is due to the director at the year end and is included in creditors falling due within one year.The director has secured the funds introduced by a debenture.
£
Balance at 01 October 2016 22,489
Balance at 30 September 2017 4,381