Company Registration No. 03580234 (England and Wales)
McClellan Industrial Services Limited
Unaudited accounts
for the year ended 30 June 2017
McClellan Industrial Services Limited
Unaudited accounts
Contents
McClellan Industrial Services Limited
Company Information
for the year ended 30 June 2017
Director
Raymond McClellan
Company Number
03580234 (England and Wales)
Registered Office
75 WHALLEY ROAD
RAMSBOTTOM
BURY
BL0 0DP
Accountants
Batesons Management Services Ltd
2 Statham Court
Statham Street
Macclesfield
Cheshire
SK11 6XN
McClellan Industrial Services Limited
Statement of financial position
as at
30 June 2017
Tangible assets
3,798
7,561
Cash at bank and in hand
42,307
18,451
Creditors: amounts falling due within one year
(266,274)
(234,677)
Net current assets
32,697
22,780
Total assets less current liabilities
36,495
30,341
Provisions for liabilities
Deferred tax
(722)
(1,512)
Called up share capital
1,100
1,100
Profit and loss account
34,673
27,729
Shareholders' funds
35,773
28,829
For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 28 September 2017.
Raymond McClellan
Director
Company Registration No. 03580234
McClellan Industrial Services Limited
Notes to the Accounts
for the year ended 30 June 2017
McClellan Industrial Services Limited is a private company, limited by shares, registered in England and Wales, registration number 03580234. The registered office is 75 WHALLEY ROAD, RAMSBOTTOM, BURY, BL0 0DP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 June 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
15% reducing balance basis
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
McClellan Industrial Services Limited
Notes to the Accounts
for the year ended 30 June 2017
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. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2016
16,211
4,250
1,186
21,647
Disposals
-
(4,250)
-
(4,250)
At 30 June 2017
17,077
-
1,186
18,263
At 1 July 2016
12,906
89
1,091
14,086
Charge for the year
454
520
14
988
On disposals
-
(609)
-
(609)
At 30 June 2017
13,360
-
1,105
14,465
At 30 June 2017
3,717
-
81
3,798
At 30 June 2016
3,305
4,161
95
7,561
Trade debtors
178,169
127,233
Accrued income and prepayments
-
773
Other debtors
78,495
111,000
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Creditors: amounts falling due within one year
2017
2016
Trade creditors
146,855
121,863
Taxes and social security
105,846
100,816
Other creditors
13,573
11,998
7
Share capital
2017
2016
Allotted, called up and fully paid:
1,100 Ordinary shares of £1 each
1,100
1,100
McClellan Industrial Services Limited
Notes to the Accounts
for the year ended 30 June 2017
8
Operating lease commitments
2017
2016
At 30 June 2017 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
1,313
7,876
Within two to five years
-
1,313
Dividends paid to directors in their capacity as shareholders during the year included £30,000 (2016 £28,000) to Mr R G McClellan.
Loans to directors were as follows:-
R G McClellan
Opening Balance 51,000
Loans advanced 73,856
Dividends (64,500)
Amounts repaid (16,684)
Closing Balance £ 51,000
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Average number of employees
During the year the average number of employees was 2 (2016: 2).