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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
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COX & GILL (ELECTRICAL) LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
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FOR |
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COX & GILL (ELECTRICAL) LIMITED |
COX & GILL (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01053377) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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COX & GILL (ELECTRICAL) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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St James's House |
8 Overcliffe |
Gravesend |
Kent |
DA11 0HJ |
COX & GILL (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01053377) |
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BALANCE SHEET |
31 MAY 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
COX & GILL (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01053377) |
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BALANCE SHEET - continued |
31 MAY 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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COX & GILL (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01053377) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
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1. | STATUTORY INFORMATION |
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Cox & Gill (Electrical) Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the net sales value of work done after provisions for contingencies and anticipated future losses on |
contract, exclusive of VAT. |
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Turnover in respect of long term contracts is recognised by reference to the stage of completion. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are stated at the lower of cost and net estimated selling price less costs. In determining the cost of stock the average |
cost price is used. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date. |
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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. |
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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. |
COX & GILL (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01053377) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, |
the lease is treated as a ‘finance lease’. The asset is recorded in the balance sheet as a tangible fixed asset and is |
depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such |
leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, |
which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future |
instalments. |
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All other leases are accounted for as ‘operating leases’ and the rental charges are charged to the profit and loss account on |
a straight line basis over the life of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
charged to profit or loss in the period to which they relate. |
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Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work |
done after provision for contingencies and anticipated future losses on contracts. less amounts received as progress |
payments on account. Excess progress payments are included in creditors as payments on account. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 June 2016 |
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Additions |
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At 31 May 2017 |
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DEPRECIATION |
At 1 June 2016 |
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Charge for year |
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At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts recoverable on contract |
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Other debtors |
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COX & GILL (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01053377) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Hire purchase contracts | 41,930 | 61,635 |
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The hire purchase contracts are secured over the related asset. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary A | £1 | 170 | 170 |
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Ordinary B | £1 | 48 | 48 |
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Ordinary C | £1 | 18 | 18 |
236 | 236 |
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10. | CAPITAL COMMITMENTS |
2017 | 2016 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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11. | FIRST YEAR ADOPTION |
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The company has adopted the provisions of Financial Reporting Standard 102 Section 1A, effective for accounting periods |
beginning on or after 1st January 2016 with the company's transitional date being 1st June 2015. No changes were |
required to the figures reported previously under UK GAAP to bring them into line with the new standard, and so no |
reconciliation statements are provided |
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