REGISTERED NUMBER:
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CARDIFF GALVANIZERS HOLDINGS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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REGISTERED NUMBER:
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CARDIFF GALVANIZERS HOLDINGS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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CARDIFF GALVANIZERS HOLDINGS LIMITED (REGISTERED NUMBER: 02749067) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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CARDIFF GALVANIZERS HOLDINGS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Tudor House |
16 Cathedral Road |
Cardiff |
CF11 9LJ |
CARDIFF GALVANIZERS HOLDINGS LIMITED (REGISTERED NUMBER: 02749067) |
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STATEMENT OF FINANCIAL POSITION |
30TH SEPTEMBER 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
CARDIFF GALVANIZERS HOLDINGS LIMITED (REGISTERED NUMBER: 02749067) |
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STATEMENT OF FINANCIAL POSITION - continued |
30TH SEPTEMBER 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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CARDIFF GALVANIZERS HOLDINGS LIMITED (REGISTERED NUMBER: 02749067) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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1. | STATUTORY INFORMATION |
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Cardiff Galvanizers Holdings Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The COVID-19 pandemic has had a significant negative impact on the UK economy. |
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Given the rapidly evolving nature of the situation and lockdowns, it is difficult to quantify the impact of Covid-19, and the directors recognise that in the longer term its effect may be more significant. |
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At this time, any long-term effect on the company is unknown, but the company has benefitted from changes in working practices, and the directors remain confident of the financial position of the company. |
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The directors believe that the company has sufficient reserves and is continuing to generate additional cash reserves to withstand any further economic downturns caused by the pandemic. |
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Given the above, the directors are confident that it is correct to prepare the accounts on a going concern basis. |
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Preparation of consolidated financial statements |
The financial statements contain information about Cardiff Galvanizers Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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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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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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CARDIFF GALVANIZERS HOLDINGS LIMITED (REGISTERED NUMBER: 02749067) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
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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 1st October 2019 |
and 30th September 2020 |
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DEPRECIATION |
At 1st October 2019 |
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Charge for year |
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At 30th September 2020 |
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NET BOOK VALUE |
At 30th September 2020 |
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At 30th September 2019 |
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CARDIFF GALVANIZERS HOLDINGS LIMITED (REGISTERED NUMBER: 02749067) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1st October 2019 |
and 30th September 2020 |
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NET BOOK VALUE |
At 30th September 2020 |
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At 30th September 2019 |
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The following are 100% subsidiaries of the company as at the year end: |
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Cardiff Galvanizers (1969) Limited - Company Number 0964827 |
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The total of the subsidiary's capital and reserves as at 30 September 2020 was £172,980 (2019 - £294,073). |
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Galvablast Limited - Company Number 03072361 |
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The total of the subsidiary's capital and reserves as at 30 September 2020 was £1,349,847 (2019 - £1,176,044). |
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Cardiff Powder Coatees Limited - Company Number 08821303 |
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The company is dormant and the total of it's capital and reserves as at 30 September 2020 was £100 (2019 - £100). |
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Consolidated group accounts have not been prepared as the company is subject to the small companies regime. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Amounts owed by group undertakings |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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CARDIFF GALVANIZERS HOLDINGS LIMITED (REGISTERED NUMBER: 02749067) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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8. | RELATED PARTY DISCLOSURES |
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The company was under the control of the directors as disclosed on Page 1 throughout the current and |
previous year. |
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The company undertook the following material transactions with group companies during the year: |
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Cardiff Galvanizers (1969) Limited charged the company: |
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- Management charges & Rent of Premises & Equipment - £90,000 (2019 - £90,000) |
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As at the year end the company was owed £1,618,229 (2019 - £1,481,284) from Cardiff Galvanizers Holdings Limited. |
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As at the year end the company owed £1,467,915 (2019 - £1,467,915) to Galvablast Limited. |