Foden Spence Construction Limited - Accounts to registrar (filleted) - small 18.2
Foden Spence Construction Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2017 |
| for |
| Foden Spence Construction Limited |
| Foden Spence Construction Limited (Registered number: 01890583) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Foden Spence Construction Limited |
| Company Information |
| for the Year Ended 31 December 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants and Business Advisers |
| Swan House |
| Westpoint Road |
| Teesdale Business Park |
| Stockton on Tees |
| TS17 6BP |
| Foden Spence Construction Limited (Registered number: 01890583) |
| Balance Sheet |
| 31 December 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Allotted, called up and fully paid share capital |
| Other reserves |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Foden Spence Construction Limited (Registered number: 01890583) |
| Balance Sheet - continued |
| 31 December 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director on |
| Foden Spence Construction Limited (Registered number: 01890583) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Foden Spence Construction Limited is a private company, limited by shares, registered in England and Wales. The |
| company's registered number and registered office address is given in the company information on page 1 of these |
| financial statements. |
| The 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. The financial statements are |
| prepared in sterling which is the functional currency of the company and rounded to the nearest £. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies |
| have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover represents the value of work carried out during the year, excluding value added tax. In respect of contracts for |
| on-going services turnover represents the value of work done in the year, including estimates of amounts not invoiced. |
| Turnover in respect of long-term contracts is ascertained in a manner appropriate to the stage of completion of the |
| contract, the business and the industry in which the company operates. Where it is considered that the outcome of a |
| long-term contract can be estimated with sufficient reliability before its conclusion, the prudently calculated attributable |
| profit is recognised in the profit and loss account as the difference between the reported turnover and related costs for |
| that contract. |
| Tangible fixed assets and depreciation |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| In the opinion of the directors, the residual value of the company's property (based on prices prevailing at the time of |
| construction) will be such that any depreciation charge or accumulated depreciation will always be immaterial. Therefore |
| no depreciation is charged. The property has been reviewed for impairment at the balance sheet date. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are stated at cost. |
| Stock and work in progress |
| Stock and work in progress are valued at the lower of cost and net realisable value. |
| Deferred taxation |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
| date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay |
| less or to receive more tax, with the following exceptions: |
| Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains |
| on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet |
| date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis |
| of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into |
| replacement assets and charged to tax only where the replacement assets are sold. |
| 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 tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which |
| timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
| Foden Spence Construction Limited (Registered number: 01890583) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 1. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over |
| the shorter of the lease term and their useful lives. Obligations under such agreements are included in 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 constant periodic rates of charge on the net obligations outstanding in each period. |
| Rentals payable under operating leases are charged against income on a straight line basis over the lease term. |
| Pension costs and other post-retirement benefits |
| Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate. |
| Pensions |
| The pension costs charged in the financial statements represent the contribution payable by the company during the year. |
| Group accounts |
| The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare |
| group accounts. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 3. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2017 |
| Additions |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| Foden Spence Construction Limited (Registered number: 01890583) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2017 |
| Disposals | ( |
) |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Other creditors | 6,946 | 16,948 |
| 8. | SECURED DEBTS |
| Hire purchase liabilities are secured on the assets to which they relate. Bank loans and overdrafts are secured by way of a |
| debenture over the assets of the company. |
| 9. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company owed the director £13,749 (2016: £29,190). |