Commercial Timber Sales Limited
|
Registered Number
:
02598288
|
For the year ended 31 May 2017
England and Wales
Unaudited Financial Statements
For the year ended 31 May 2017
Commercial Timber Sales Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Commercial Timber Sales Limited
Statement of Financial Position
2016
2017
Property
,
plant and equipment
|
2,873
3,890
2
247,026
227,737
3
230,610
250,916
Trade and other receivables
|
6,237
69,525
4
2,955
Cash and cash equivalents
|
621
70,146
9,192
Trade and other payables
:
amounts falling due within one
|
year
|
(18,437)
(17,513)
5
(9,245)
52,633
Net current assets
Total assets less current liabilities
|
283,243
241,671
Trade and other payables
:
amounts falling due after more
|
than one year
|
(271,967)
(327,779)
6
(44,536)
Net liabilities
(30,296)
82
100
(44,618)
(30,396)
(44,536)
(30,296)
Shareholders' funds
For the year ended 31 May 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
All the members have consented to the preparation of an Abridged Income Statement for the year ended
31
May
2017
|
in accordance with Section
444
(
2
A
)
of the Companies Act
2006
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
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.
|
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For the year ended 31 May 2017
Commercial Timber Sales Limited
Statement of Financial Position Continued
Mr Jeremy Andrew Kemplen Director
|
These financial statements were approved and authorised for issue by the Board on 15 May 2018 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 May 2017
Commercial Timber Sales Limited
Notes to the Financial Statements
Statutory Information
Commercial Timber Sales Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
|
registration number
02598288
.
|
Sandy Farm Business Centre
Sands Road, The Sands
Farnham
Surrey
GU10 1PX
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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 costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Short leasehold
Plant and machinery
Motor vehicles
Fixtures and fittings
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
|
Hire purchase and leasing commitments
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
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
|
Going Concern
Although the balance sheet is negative
,
the directors have indicated their intention to support the company for the
|
foreseeable future
,
a period not expected to be less than one year
.
|
3 of 5
For the year ended 31 May 2017
Commercial Timber Sales Limited
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
Motor vehicles
79,700
2,681
4,208
1,960
22,913
47,938
-
-
(1,960)
-
-
(1,960)
47,938
-
4,208
2,681
77,740
22,913
Provision for depreciation and impairment
|
75,810
1,814
4,155
1,960
19,986
47,895
Charge for year
1,017
217
53
-
732
15
(1,960)
-
-
(1,960)
-
-
74,867
2,031
4,208
-
20,718
47,910
28
2,195
-
-
650
2,873
43
2,927
-
53
867
3,890
3
.
Investments held as fixed assets
|
Own shares
247,026
247,026
(19,289)
(19,289)
227,737
227,737
227,737
227,737
247,026
247,026
4
.
Trade and other receivables
|
2016
2017
13,140
3,424
Prepayments and accrued income
|
2,447
2,813
Amounts owed by directors
|
53,938
-
6,237
69,525
4 of 5
For the year ended 31 May 2017
Commercial Timber Sales Limited
Notes to the Financial Statements Continued
5
.
Trade and other payables
:
amounts falling due within one year
|
2016
2017
-
1,043
6,789
48
Taxation and social security
|
7,908
14,294
Accruals and deferred income
|
2,228
1,941
Directors
'
loan accounts
|
-
523
588
588
17,513
18,437
6
.
Trade and other payables
:
amounts falling due after more than one year
|
2016
2017
Bank loans and overdraft
(
secured
)
|
327,779
271,967
7
.
Related party transactions
|
The Creditor falling due after more than one year is a bank loan secured by the director Jeremy Kemplen
.
The loan is
|
interest bearing
.
The lender will not seek repayment of the loan for the foreseeable future
.
|
The loan from the director Jeremy Kemplen as at
31
st May
2017
of £
53
,
910
.
incurred an interest charge calculated
|
3
.
00
%.
|
5 of 5