REGISTERED NUMBER:
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C F Struthers (Hull) Limited |
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Financial Statements for the Period 1st January 2019 to 30th June 2020 |
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REGISTERED NUMBER:
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C F Struthers (Hull) Limited |
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Financial Statements for the Period 1st January 2019 to 30th June 2020 |
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C F Struthers (Hull) Limited (Registered number: 05076739) |
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Contents of the Financial Statements |
for the period 1st January 2019 to 30th June 2020 |
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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 | 3 |
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C F Struthers (Hull) Limited |
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Company Information |
for the period 1st January 2019 to 30th June 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
C F Struthers (Hull) Limited (Registered number: 05076739) |
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Balance Sheet |
30th June 2020 |
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2020 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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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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SHAREHOLDERS' FUNDS |
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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 Board of Directors and authorised for issue on
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C F Struthers (Hull) Limited (Registered number: 05076739) |
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Notes to the Financial Statements |
for the period 1st January 2019 to 30th June 2020 |
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1. | STATUTORY INFORMATION |
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C F Struthers (Hull) 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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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Going concern |
The directors have assessed the risks and uncertainties that may affect the group's ability to trade as a going concern. The directors have in particular considered the group's cashflow following a major customer entering into administration at the beginning of this financial period. As discussed in the strategic report of C F Struthers Limited, the group has (since the period end) acquired the patents previously held by this customer from the administrator and because of this the directors are confident that new contracts will be achieved which will have a positive impact on cash flow as the worldwide oil price continues to increase. The group has also reviewed its strategy and continues to expand its general fabrication work. Following this assessment, the financial statements have been prepared on a going concern basis, this assumes that the company and group will continue to be able to meet its financial liabilities as they fall due in the foreseeable future. |
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Preparation of consolidated financial statements |
The financial statements contain information about C F Struthers (Hull) 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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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the period 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 period 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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Investments |
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. |
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Debtors and creditors receivable /payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income in administrative expenses. |
C F Struthers (Hull) Limited (Registered number: 05076739) |
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Notes to the Financial Statements - continued |
for the period 1st January 2019 to 30th June 2020 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL (2018 - NIL). |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st January 2019 |
and 30th June 2020 |
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NET BOOK VALUE |
At 30th June 2020 |
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At 31st December 2018 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2018 |
£ | £ |
Amounts owed to group undertakings |
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Other creditors |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | CONTINGENT LIABILITIES |
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The company has entered into a multilateral guarantee in respect of bank borrowings of the entire group. At 30th June 2020 the potential liability under this arrangement was £Nil (2018 £82,500). |
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8. | ULTIMATE CONTROLLING PARTY |
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At 30th June 2020, the company was controlled by
N Burton
who owns 100% of the ordinary shares in the
ultimate parent company. |
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9. | PARENT COMPANY |
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The parent company is
C F Struthers (Holdings) Limited
, a company registered in England and Wales. C F
Struthers (Holdings) Limited is also the company's ult imate parent undertaking and its registered office is Millennium Works, Valetta Street, Hull, East Yorkshire , HU9 5NP. Copies of C F Struthers (Holdings) Limited's financial statements can be obtained from Companies Ho use. |