Commercial Timber Sales Limited
|
Registered Number
:
02598288
|
For the year ended 31 May 2018
England and Wales
Unaudited Financial Statements
For the year ended 31 May 2018
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
2017
2018
Property
,
plant and equipment
|
2,152
2,873
2
227,737
227,737
3
229,889
230,610
Trade and other receivables
|
69,525
130,419
4
621
Cash and cash equivalents
|
2,287
132,706
70,146
Trade and other payables
:
amounts falling due within one
|
year
|
(17,513)
(10,575)
5
52,633
122,131
Net current assets
Total assets less current liabilities
|
352,020
283,243
Trade and other payables
:
amounts falling due after more
|
than one year
|
(327,779)
(327,779)
6
24,241
Net assets/liabilities
(44,536)
82
82
24,159
(44,618)
24,241
(44,536)
Shareholders' funds
For the year ended 31 May 2018 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 2018 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
2018
|
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 applicable to companies subject to the small companies regime.
|
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For the year ended 31 May 2018
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 07 September 2018 and were signed by:
|
The notes form part of these financial statements
|
2 of 5
For the year ended 31 May 2018
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 2018
Commercial Timber Sales Limited
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
77,740
2,681
4,208
22,913
47,938
22,913
4,208
2,681
77,740
47,938
Provision for depreciation and impairment
|
74,867
2,031
4,208
20,718
47,910
Charge for year
721
163
-
549
9
75,588
2,194
4,208
21,267
47,919
19
1,646
-
487
2,152
28
2,195
-
650
2,873
3
.
Investments held as fixed assets
|
Own shares
227,737
227,737
227,737
227,737
227,737
227,737
227,737
227,737
4
.
Trade and other receivables
|
2017
2018
416
13,140
Prepayments and accrued income
|
2,447
2,447
Amounts owed by directors
|
127,556
53,938
69,525
130,419
4 of 5
For the year ended 31 May 2018
Commercial Timber Sales Limited
Notes to the Financial Statements Continued
5
.
Trade and other payables
:
amounts falling due within one year
|
2017
2018
-
6,789
Taxation and social security
|
7,759
7,908
Accruals and deferred income
|
2,228
2,228
588
588
10,575
17,513
6
.
Trade and other payables
:
amounts falling due after more than one year
|
2017
2018
Bank loans and overdraft
(
secured
)
|
327,779
327,779
5 of 5