|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 December 2017 |
|
for |
|
SAS Lining Services Limited |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 December 2017 |
|
for |
|
SAS Lining Services Limited |
SAS Lining Services Limited (Registered number: 05190675) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
SAS Lining Services Limited |
|
Company Information |
for the Year Ended 31 December 2017 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
SECRETARY: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
ACCOUNTANTS: |
|
14a Waterside Business Park |
Livingstone Road |
Hessle |
East Yorkshire |
HU13 0EG |
|
|
|
BANKERS: |
|
1-7 George Street |
Hull |
East Yorkshire |
HU1 3BB |
SAS Lining Services Limited (Registered number: 05190675) |
|
Balance Sheet |
31 December 2017 |
|
31.12.17 | 31.12.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 10 |
|
|
Retained earnings | 11 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
SAS Lining Services Limited (Registered number: 05190675) |
|
Balance Sheet - continued |
31 December 2017 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
SAS Lining Services Limited (Registered number: 05190675) |
|
Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
|
1. | STATUTORY INFORMATION |
|
SAS Lining Services Limited is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents the net invoiced sales of goods and services, excluding value added tax. |
|
Revenue Recognition |
Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company |
receives a right to consideration from its performance. |
|
Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on |
their fair value of the right to consideration at the balance sheet date. The value is included in debtors as |
Amounts Recoverable on Contracts. |
|
Tangible fixed assets |
|
Improvements to property | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine |
whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the |
recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where |
it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount |
of the cash-generating unit to which the asset belongs. |
|
Stocks |
Stocks are valued at the lower of costs and net realisable value, after making due allowance for obsolete and |
slow moving items. Overheads are charged to profit and loss as incurred. Net realisable value is based on the |
estimated selling price less any estimated completion or selling costs. |
|
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which its |
related revenue is recognised. The amount of any write-down of stocks to net realisable value and losses of |
stocks are recognised as an expenses in the period in which the write-down or loss occurs. The amount of any |
reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an |
expense in the period in which the reversal occurs. |
|
SAS Lining Services Limited (Registered number: 05190675) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
|
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
|
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. |
|
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. |
|
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
|
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
|
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
|
Capital grants received |
Capital grants received are included in the balance sheet under creditors. The grants are written off to the profit |
and loss account over a period that matches the asset life to which the grant relates |
|
Debt factoring |
Trade debtors factored with recourse are included within trade debtors. Loans advanced, which are secured on |
the factored debtors are included under creditors due within one year described as bank loans and overdrafts. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
SAS Lining Services Limited (Registered number: 05190675) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
|
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 January 2017 |
|
|
|
Disposals |
|
( |
) |
|
At 31 December 2017 |
|
|
|
DEPRECIATION |
At 1 January 2017 |
|
|
|
Charge for year |
|
|
|
Eliminated on disposal |
|
( |
) |
|
At 31 December 2017 |
|
|
|
NET BOOK VALUE |
At 31 December 2017 |
|
|
|
At 31 December 2016 |
|
|
|
|
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2017 |
|
|
|
Additions |
|
|
|
Disposals | ( |
) | ( |
) | ( |
) |
At 31 December 2017 |
|
|
|
DEPRECIATION |
At 1 January 2017 |
|
|
|
Charge for year |
|
|
|
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 December 2017 |
|
|
|
NET BOOK VALUE |
At 31 December 2017 |
|
|
|
At 31 December 2016 |
|
|
|
SAS Lining Services Limited (Registered number: 05190675) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
|
4. | TANGIBLE FIXED ASSETS - continued |
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
|
DEPRECIATION |
At 1 January 2017 |
|
Charge for year |
|
At 31 December 2017 |
|
NET BOOK VALUE |
At 31 December 2017 |
|
At 31 December 2016 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade debtors |
|
|
Amounts recoverable on contract |
|
|
Other debtors |
|
|
Prepayments |
|
|
|
|
|
Trade debtors includes amounts factored of £249,207 (2016 £218,278) |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts (see note 8) |
|
|
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
Directors' current accounts |
|
|
Accrued expenses |
|
|
Deferred government grants |
|
|
|
|
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Hire purchase contracts (see note 8) |
|
|
SAS Lining Services Limited (Registered number: 05190675) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
|
8. | LEASING AGREEMENTS |
|
Minimum lease payments fall due as follows: |
|
Hire purchase contracts |
31.12.17 | 31.12.16 |
£ | £ |
Gross obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
Finance charges repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
Net obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
Non-cancellable operating |
leases |
31.12.17 | 31.12.16 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
9. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
31.12.17 | 31.12.16 |
£ | £ |
Bank overdrafts |
|
|
Hire purchase contracts | 104,343 | 154,486 |
|
|
SAS Lining Services Limited (Registered number: 05190675) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
|
10. | CALLED UP SHARE CAPITAL |
|
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.17 | 31.12.16 |
value: | £ | £ |
|
Ordinary | £1 | 100 | 100 |
|
Ordinary 'A' | £1 | 2 | 2 |
102 | 102 |
|
11. | RESERVES |
Retained |
earnings |
£ |
|
At 1 January 2017 |
|
Profit for the year |
|
Dividends | ( |
) |
At 31 December 2017 |
|
|
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to a director subsisted during the years ended 31 December 2017 and |
31 December 2016: |
|
31.12.17 | 31.12.16 |
£ | £ |
|
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
|
|
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
|
The amount owed to the Director is interest free and repayable on demand. |
|
13. | RELATED PARTY DISCLOSURES |
|
During the year, total dividends of £86,215 (2016 - £60,900) were paid to the director . |
|
14. | ULTIMATE CONTROLLING PARTY |
|
Director and principal shareholder
Mr S Grayson
is regarded as being the ultimate controlling party of the
company. |
|
15. | FIRST YEAR ADOPTION |
|
On transition to FRS102 the company has taken advantage of the following transitional relief: |
|
- Not to disclose the reconciliation of equity and profit and loss due to no subsequent changes. |
|
- Not to include immaterial employee benefits accruing at the balance sheet date. |