Company Registration No. 5198072 (England and Wales)
CLC ELECTRICS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019
PAGES FOR FILING WITH REGISTRAR
CLC ELECTRICS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
CLC ELECTRICS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2019
31 August 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,136
4,182
Current assets
Debtors
3
3,996
10,149
Cash at bank and in hand
583
59
4,579
10,208
Creditors: amounts falling due within one year
4
(4,748)
(12,131)
Net current liabilities
(169)
(1,923)
Total assets less current liabilities
2,967
2,259
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
2,966
2,258
Total equity
2,967
2,259
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 27 May 2020
C Wood
Director
Company Registration No. 5198072
CLC ELECTRICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019
- 2 -
1
Accounting policies
Company information
CLC Electrics Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
4 Poundwell, Welwyn Garden City, Herts, AL3 3NP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and Machinery
25% reducing balance
Fixtures and fittings
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
CLC ELECTRICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2019
- 3 -
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2018 and 31 August 2019
20,134
Depreciation and impairment
At 1 September 2018
15,952
Depreciation charged in the year
1,046
At 31 August 2019
16,998
Carrying amount
At 31 August 2019
3,136
At 31 August 2018
4,182
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
3,996
10,149
4
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
381
6,009
Corporation tax
2,743
4,298
Other creditors
1,624
1,824
4,748
12,131
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Authorised
100 Ordinary shares of £1 each
100
100
Issued and fully paid
1 Ordinary shares of £1 each
1
1