Cema Site Installations Limited 31/12/2017 iXBRL

Cema Site Installations Limited 31/12/2017 iXBRL

CEMA SITE INSTALLATIONS LIMITED - Company Information

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Statement of consent to prepare abridged financial statements
All of the members of Cema Site Installations Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.
Company registration number: 06465817
Cema Site Installations Limited
Abridged filleted financial statements
31 December 2017
Cema Site Installations Limited
Contents
Directors and other information
Director's responsibilities statement
Independent auditor's report to the members
Abridged statement of comprehensive income
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Cema Site Installations Limited
Directors and other information
Director Mr F G Ciaurro
Secretary Mr F G Ciaurro
Company number 06465817
Registered office White House
Wollaton Street
Nottingham
NG1 5GF
Business address Pintail Close
Victoria Business Park
Netherfield
Nottingham
NG4 2SG
Auditor Higson & Co
White House
Wollaton Street
Nottingham
NG1 5GF
Bankers Yorkshire Bank plc
11 Smithy Row
Nottingham
NG1 3EJ
Cema Site Installations Limited
Director's responsibilities statement
Year ended 31 December 2017
the director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Cema Site Installations Limited
Independent auditor's report to the members of
Cema Site Installations Limited
Year ended 31 December 2017
Opinion
We have audited the financial statements of Cema Site Installations Limited for the year ended 31 December 2017 which comprise the abridged statement of comprehensive income, abridged statement of financial position, statement of changes in equity and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2017 and of its loss for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the director's use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the director has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the director's report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the director's report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and the returns; or - certain disclosures of director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the director's report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. we also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Simon Skill FCA (Senior Statutory Auditor)
For and on behalf of
Higson & Co
Statutory Auditors
White House
Wollaton Street
Nottingham
NG1 5GF
21 September 2018
Cema Site Installations Limited
Abridged statement of comprehensive income
Year ended 31 December 2017
2017 2016
Note £ £
Gross profit - 54,992
Administrative expenses ( 1,095) ( 23,509)
_______ _______
Operating (loss)/profit ( 1,095) 31,483
Interest payable and similar expenses - ( 3,101)
_______ _______
(Loss)/profit before taxation 5 ( 1,095) 28,382
Tax on (loss)/profit 960 -
_______ _______
(Loss)/profit for the financial year and total comprehensive income ( 135) 28,382
_______ _______
All the activities of the company are from continuing operations.
Cema Site Installations Limited
Abridged statement of financial position
31 December 2017
2017 2016
Note £ £ £ £
Current assets
Debtors 75,829 106,718
Cash at bank and in hand 432 124
_______ _______
76,261 106,842
Creditors: amounts falling due
within one year ( 1,074,319) ( 1,103,805)
_______ _______
Net current liabilities ( 998,058) ( 996,963)
_______ _______
Total assets less current liabilities ( 998,058) ( 996,963)
Provisions for liabilities - ( 960)
_______ _______
Net liabilities ( 998,058) ( 997,923)
_______ _______
Capital and reserves
Called up share capital 6 1 1
Profit and loss account ( 998,059) ( 997,924)
_______ _______
Shareholders deficit ( 998,058) ( 997,923)
_______ _______
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 21 September 2018 , and are signed on behalf of the board by:
Mr F G Ciaurro
Director
Company registration number: 06465817
Cema Site Installations Limited
Statement of changes in equity
Year ended 31 December 2017
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2016 1 ( 1,026,306) ( 1,026,305)
(Loss)/profit for the year - 28,382 28,382
_______ _______ _______
Total comprehensive income for the year - 28,382 28,382
_______ _______ _______
At 31 December 2016 and 1 January 2017 1 ( 997,924) ( 997,923)
(Loss)/profit for the year - ( 135) ( 135)
_______ _______ _______
Total comprehensive income for the year - ( 135) ( 135)
_______ _______ _______
At 31 December 2017 1 ( 998,059) ( 998,058)
_______ _______ _______
Cema Site Installations Limited
Notes to the financial statements
Year ended 31 December 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 White House, Wollaton Street, Nottingham, NG1 5GF. The company's trading address is Pintail Close, Victoria Business Park, Netherfield, Nottingham, NG4 2SG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company has obtained the necessary financial support for a minimum of a further year from the date of these accounts from its parent company, Cema Group Limited and its fellow subsidiaries Cema Limited and Cema Solutions Limited.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).
5. Loss/profit before taxation
Loss/profit before taxation is stated after charging/(crediting):
2017 2016
£ £
Depreciation of tangible assets - 5,076
Fees payable for the audit of the financial statements 1,000 2,000
_______ _______
6. Called up share capital
Issued, called up and fully paid
2017 2016
No £ No £
Ordinary shares of £ 1.00 each 1 1 1 1
_______ _______ _______ _______
7. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2017 2016 2017 2016
£ £ £ £
Cema Limited - 209,693 ( 1,048,643) ( 1,074,195)
Cema Tracking Solutions Limited - 412 - -
Cema Solutions Limited - 4,955 74,974 74,974
Cema Business Solutions Limited - - - 11,346
_______ _______ _______ _______
The companies are related parties due to the group structure and/or the director F G Ciaurro having an interest in these companies.The transactions with Cema Limited are as follows:- £Nil (2016: £350,987) which relate to sales at an arms length basis and £Nil (2016: £141,294) which relate to purchases at an arms length basis. The transactions with Cema Tracking Solutions Limited are as follows:- £Nil (2016: £412) which relate to purchases at an arms length basis. The transactions with Cema Solutions Limited are as follows:- £Nil (2016: £4,955) which relate to purchases at an arms length basis. Any differences between the transactional values and the balances owed by/to relates to movement of funds between group companies.
8. Controlling party
The company's entire share capital is owned by Cema Limited, whose registered office address is White House, Wollaton Street, Nottingham NG1 5GF and is registered under company number 2527559 in England and Wales. On 3rd July 2017 the entire share capital was transferred to Cema Group Limited, whose registered office address is White House, Wollaton Street, Nottingham NG1 5GF and is registered under company number 09874998 in England and Wales.