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Unaudited Financial Statements for the Year Ended 28 February 2017 |
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GWS Engineers Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 28 February 2017 |
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GWS Engineers Limited |
GWS Engineers Limited (Registered number: 01360021) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2017 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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GWS Engineers Limited |
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Company Information |
for the Year Ended 28 February 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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Accountants and Business Advisors |
West Hill House |
Allerton Hill |
Chapel Allerton |
Leeds |
West Yorkshire |
LS7 3QB |
GWS Engineers Limited (Registered number: 01360021) |
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Abridged Balance Sheet |
28 February 2017 |
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28.2.17 | 29.2.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | ( |
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ACCRUALS AND DEFERRED INCOME | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
GWS Engineers Limited (Registered number: 01360021) |
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Abridged Balance Sheet - continued |
28 February 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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GWS Engineers Limited (Registered number: 01360021) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2017 |
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1. | STATUTORY INFORMATION |
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GWS Engineers Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover comprises the invoice value of goods sold and of equipment hire, excluding value added tax. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period 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. |
GWS Engineers Limited (Registered number: 01360021) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Consolidation |
The company and its subsidiary comprise a small group. The company has therefore taken advantage of the |
exemption provided by section 248 of the Companies Act 1985 not to prepare group financial statements. As a |
result these financial statements present information about it as an individual undertaking and not about its group. |
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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 |
Totals |
£ |
COST OR VALUATION |
At 1 March 2016 |
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Additions |
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Disposals | ( |
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At 28 February 2017 |
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DEPRECIATION |
At 1 March 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 28 February 2017 |
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NET BOOK VALUE |
At 28 February 2017 |
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At 29 February 2016 |
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Cost or valuation at 28 February 2017 is represented by: |
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Totals |
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Valuation in 1995 | (148,274 | ) |
Cost | 2,044,347 |
1,896,073 |
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If land and buildings had not been revalued they would have been included at the following historical cost: |
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28.2.17 | 29.2.16 |
£ | £ |
Cost | 722,409 | 722,409 |
Aggregate depreciation | 267,358 | 267,358 |
GWS Engineers Limited (Registered number: 01360021) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2017 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 March 2016 |
and 28 February 2017 | 98 |
NET BOOK VALUE |
At 28 February 2017 | 98 |
At 29 February 2016 | 98 |
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6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 28 February 2017 and |
29 February 2016: |
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28.2.17 | 29.2.16 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The loan is interest free and repayable on demand. |