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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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European Special Fabrications Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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for |
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European Special Fabrications Limited |
European Special Fabrications Limited (Registered number: 04385780) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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European Special Fabrications Limited |
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Company Information |
for the Year Ended 30 June 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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European Special Fabrications Limited (Registered number: 04385780) |
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Balance Sheet |
30 June 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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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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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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European Special Fabrications Limited (Registered number: 04385780) |
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Balance Sheet - continued |
30 June 2017 |
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The director acknowledges his 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. |
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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 director on
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European Special Fabrications Limited (Registered number: 04385780) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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European Special Fabrications Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the 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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Goodwill |
Goodwill is being amortised evenly over its estimated useful life of ten years. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
European Special Fabrications Limited (Registered number: 04385780) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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3. | ACCOUNTING POLICIES - continued |
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Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual |
provisions of the instruments. |
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Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in |
effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a |
market rate of interest for a similar debt instrument. |
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Debt instruments are subsequently measured at amortised cost. |
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Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond |
normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is |
measured at the present value of the future payments discounted at a market rate of interest for a similar debt |
instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of |
impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is |
recognised in profit or loss immediately. |
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Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not |
result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the |
impairment not previously been recognised. |
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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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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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European Special Fabrications Limited (Registered number: 04385780) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 July 2016 |
and 30 June 2017 |
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AMORTISATION |
At 1 July 2016 |
and 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 July 2016 |
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Disposals | ( |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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European Special Fabrications Limited (Registered number: 04385780) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 June 2017 and |
30 June 2016: |
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2017 | 2016 |
£ | £ |
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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 advances made to the director in the year had no fixed repayment terms and was repayable on demand. |
Interest was charged on advances to the director at a rate of 7%. |