East Coast Drains Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05846440 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

EAST COAST DRAINS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R A Hess

Miss J E Marsden

SECRETARY:

R A Hess

REGISTERED OFFICE:

Lothing House

7 Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

REGISTERED NUMBER:

05846440 (England and Wales)

ACCOUNTANTS:

Juler Tooke

Lothing House

Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

FIXED ASSETS

Intangible assets

4

14,000

15,750

Tangible assets

5

68,636

77,166

82,636

92,916

CURRENT ASSETS

Stocks

-

1,389

Debtors

6

52,601

11,718

Cash at bank

150,695

114,728

203,296

127,835

CREDITORS

Amounts falling due within one year

7

(45,361

)

(24,567

)

NET CURRENT ASSETS

157,935

103,268

TOTAL ASSETS LESS CURRENT LIABILITIES

240,571

196,184

CREDITORS

Amounts falling due after more than one year

8

(9,758

)

(17,564

)

PROVISIONS FOR LIABILITIES

(9,924

)

(13,683

)

NET ASSETS

220,889

164,937

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

220,788

164,836

SHAREHOLDERS' FUNDS

220,889

164,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 13 July 2018 and were signed on its behalf by:

R A Hess - Director

1.	STATUTORY INFORMATION

East Coast Drains 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

20% on reducing balance and 15% on reducing balance

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2017

and 30 June 2018

35,000

AMORTISATION

At 1 July 2017

19,250

Charge for year

1,750

At 30 June 2018

21,000

NET BOOK VALUE

At 30 June 2018

14,000

At 30 June 2017

15,750

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2017

6,893

103,792

110,685

Additions

2,334

1,159

3,493

At 30 June 2018

9,227

104,951

114,178

DEPRECIATION

At 1 July 2017

-

33,519

33,519

Charge for year

-

12,023

12,023

At 30 June 2018

-

45,542

45,542

NET BOOK VALUE

At 30 June 2018

9,227

59,409

68,636

At 30 June 2017

6,893

70,273

77,166

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

49,505

9,685

Other debtors

3,096

2,033

52,601

11,718

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

19,092

5,000

Taxation and social security

25,716

10,887

Other creditors

553

8,680

45,361

24,567

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.18

30.6.17

£

£

Hire purchase contracts

9,758

17,564

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £46,400 (2017 - £39,500) were paid to the directors .

The company operates a Loan account with the Director and the balance as at 30th June 2018 was £553.

10.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mr R A Hess as holder of the share capital throughout the current year.