South Wales Contractors Limited - Accounts to registrar (filleted) - small 18.2

South Wales Contractors Limited - Accounts to registrar (filleted) - small 18.2

SOUTH WALES CONTRACTORS LIMITED - Company Information

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REGISTERED NUMBER: 06206365 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

SOUTH WALES CONTRACTORS LIMITED
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH WALES CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTORS: J W Reape
C B Bourke





SECRETARY: J W Reape





REGISTERED OFFICE: 141 Oaklands Road
Bridgend
Glamorgan
CF31 4SX





REGISTERED NUMBER: 06206365 (England and Wales)





ACCOUNTANTS: DAVID WRIGHT ACCOUNTANTS LIMITED
1st Floor..
Nathaniel House
David Street
Bridgend
South Wales
CF31 3SA
Page 1
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365)

BALANCE SHEET
31 MARCH 2018

31.3.18 31.3.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 7,333
Tangible assets 5 73,033 104,574
Investments 6 1 1
73,034 111,908

CURRENT ASSETS
Debtors 7 574,595 341,585
Investments 8 12,095 25,437
Cash at bank 349,618 384,094
936,308 751,116
CREDITORS
Amounts falling due within one year 9 600,514 459,777
NET CURRENT ASSETS 335,794 291,339
TOTAL ASSETS LESS CURRENT
LIABILITIES
408,828
403,247

PROVISIONS FOR LIABILITIES 13,876 20,915
NET ASSETS 394,952 382,332

CAPITAL AND RESERVES
Called up share capital 20 150,020
Retained earnings 394,932 232,312
SHAREHOLDERS' FUNDS 394,952 382,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 notes form part of these financial statements

Page 2 continued...
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365)

BALANCE SHEET - continued
31 MARCH 2018


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 19 December 2018 and were signed on its behalf by:




J W Reape - Director



C B Bourke - Director


The notes form part of these financial statements

Page 3
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018


1. STATUTORY INFORMATION

South Wales Contractors 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 2007, is being amortised evenly over its estimated useful life of ten 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 - 25% on reducing balance, 25% on cost and 15% on cost

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.

Page 4 continued...
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


2. ACCOUNTING POLICIES - continued

Employer financed retirement benefit scheme
Previously the Company had established an employer financed retirement benefit scheme (The Scheme) for the benefit
of its officers, employees and their wider families. The Scheme consisted of 2 employee benefit trusts called The South
Wales Contractors Ltd Employer Financed Retirement Benefit Scheme No 1 and The South Wales Contractors Ltd
Employer Financed Benefit Scheme No 2.

In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment arrangements" the
Company does not include the assets and liabilities of The Scheme on its balance sheet to the extent that it considers
that it will not retain any economic benefit from the assets of The Scheme and will not have control of the rights or
other access to those present economic benefits.

Monk close llp
The share of profit or loss from the Monk Close LLP for its accounting period ending within the accounting period of
the company is included in the accounts of that period of the company.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2017
and 31 March 2018 220,000
AMORTISATION
At 1 April 2017 212,667
Charge for year 7,333
At 31 March 2018 220,000
NET BOOK VALUE
At 31 March 2018 -
At 31 March 2017 7,333

The Goodwill represents the value of the business of South Wales Construction acquired from the directors in June
2007.

Page 5 continued...
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2017 298,976
Disposals (18,935 )
At 31 March 2018 280,041
DEPRECIATION
At 1 April 2017 194,402
Charge for year 20,463
Eliminated on disposal (7,857 )
At 31 March 2018 207,008
NET BOOK VALUE
At 31 March 2018 73,033
At 31 March 2017 104,574

6. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 April 2017
and 31 March 2018 17,000
PROVISIONS
At 1 April 2017
and 31 March 2018 16,999
NET BOOK VALUE
At 31 March 2018 1
At 31 March 2017 1

During the year ended 31st March 2012 the company became a corporate member of Dean Street Productions No.16
LLP. An amount of £17,000 was invested. The company's directors have taken advice and acting on that advice it has
been decided that the investment be written down to £1 at the current time.

Page 6 continued...
SOUTH WALES CONTRACTORS LIMITED (REGISTERED NUMBER: 06206365)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade debtors 486,645 254,508
Other debtors 87,950 87,077
574,595 341,585

8. CURRENT ASSET INVESTMENTS
31.3.18 31.3.17
£    £   
Other 12,095 25,437

Partnership net current assets comprise of the following:-
31/3/18 31/3/17
£    £   

Stocks 9,355 23,125
Debtors 1,348 2,351
Cash at bank 1,403 91
12,106 25,567
Less: Creditors (11 ) (130 )
Net current assets 12,095 25,437
Investments in subsidiary, associates and jointly controlled entities are included at fair value. The share of profit or loss
from the Monk Close LLP for its accounting period ending within the accounting period of the company is included in
the accounts of that period of the company as a value adjustment.

The directors consider that, in order to show a true and fair view, the company's value adjustments to current asset
investments are equivalent to its share of the results of the Monk Close LLP, which should be accounted for as such in
the Income Statement and its share of net assets should be shown within current assets on the balance sheet. These
accounts have been prepared on that basis.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade creditors 88,604 60,514
Taxation and social security 84,834 62,961
Other creditors 427,076 336,302
600,514 459,777

Page 7