Company Registration No. 04598027 (England and Wales)
County Landscapes Limited
Unaudited accounts
for the year ended 31 March 2017
County Landscapes Limited
Unaudited accounts
Contents
County Landscapes Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of County Landscapes Limited for the year ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
County Landscapes Limited for the year ended
31 March 2017 as set out on pages
4 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of County Landscapes Limited, as a body, in accordance with the terms of our engagement letter dated 1 February 2014. Our work has been undertaken solely to prepare for your approval the accounts of County Landscapes Limited and state those matters that we have agreed to state to the Board of Directors of County Landscapes Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than County Landscapes Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that County Landscapes Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of County Landscapes Limited. You consider that County Landscapes Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of County Landscapes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Samantha Thompson Limited
Chartered Accountants
1 Halliford Drive
Barnham
Bognor Regis
PO22 0AB
27 October 2017
County Landscapes Limited
Statement of financial position
as at
31 March 2017
Intangible assets
-
9,418
Tangible assets
16,347
21,206
Inventories
19,300
10,998
Cash at bank and in hand
-
206
Creditors: amounts falling due within one year
(65,742)
(44,682)
Net current liabilities
(967)
(8,226)
Total assets less current liabilities
15,380
22,398
Creditors: amounts falling due after more than one year
(12,086)
(15,484)
Provisions for liabilities
Deferred tax
(3,269)
(4,240)
Called up share capital
10
10
Profit and loss account
15
2,664
Shareholders' funds
25
2,674
For the year ending 31 March 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 27 October 2017.
Stephen White
Director
Company Registration No. 04598027
County Landscapes Limited
Notes to the Accounts
for the year ended 31 March 2017
County Landscapes Limited is a private company, limited by shares, registered in England and Wales, registration number 04598027. The registered office and principal place of business is 77 Old Worthing Road, East Preston, Littlehampton, BN16 1EA.
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 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
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
25% on the reducing balance
Motor vehicles
25% on the reducing balance
Income is recognised when services provided to customers have been completed or when goods have been delivered. 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.
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 assets and liabilities are not discounted.
County Landscapes Limited
Notes to the Accounts
for the year ended 31 March 2017
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
Charge for the year
9,418
The useful economic life of the goodwill was reviewed during the year and the remaining value amortised.
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2016
8,872
34,745
43,617
Disposals
(5,072)
-
(5,072)
At 31 March 2017
4,967
34,745
39,712
At 1 April 2016
5,669
16,742
22,411
Charge for the year
949
4,501
5,450
On disposals
(4,496)
-
(4,496)
At 31 March 2017
2,122
21,243
23,365
At 31 March 2017
2,845
13,502
16,347
At 31 March 2016
3,203
18,003
21,206
County Landscapes Limited
Notes to the Accounts
for the year ended 31 March 2017
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
11,194
14,925
Raw materials
2,500
1,500
Finished goods
16,800
9,498
Other debtors
45,097
25,252
Amounts due after more than one year
44,213
25,000
8
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
19,038
12,394
Obligations under finance leases and hire purchase contracts
2,781
2,511
Trade creditors
15,028
18,237
Taxes and social security
12,529
8,758
Loans from directors
456
754
Deferred income
15,400
499
The creditor for finance leases is secured on the asset financed.
9
Creditors: amounts falling due after more than one year
2017
2016
Obligations under finance leases and hire purchase contracts
12,086
14,867
The creditor for finance leases is secured on the asset financed.
County Landscapes Limited
Notes to the Accounts
for the year ended 31 March 2017
10
Share capital
2017
2016
Allotted, called up and fully paid:
9 Ordinary shares A of £1 each
9
9
1 Ordinary shares B of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to the director
20,000
14,500
-
34,500
Interest free loan to the director.
12
Average number of employees
During the year the average number of employees was 5 (2016: 6).