Company Registration No. 07469792 (England and Wales)
CLEARWAY TRAFFIC SOLUTIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
CLEARWAY TRAFFIC SOLUTIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
CLEARWAY TRAFFIC SOLUTIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
53,803
-
Investments
2
2
2
53,805
2
Current assets
Debtors
3
79,270
43,437
Cash at bank and in hand
41,069
14,731
120,339
58,168
Creditors: amounts falling due within one year
(139,523)
(26,936)
Net current (liabilities)/assets
(19,184)
31,232
Total assets less current liabilities
34,621
31,234
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
34,521
31,134
Shareholder's funds
34,621
31,234
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 7 December 2015
Mr D J Gibbins
Director
Company Registration No. 07469792
CLEARWAY TRAFFIC SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover includes revenue earned under a wide variety of contracts to provide services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients excluding value added tax. Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% on cost
Fixtures, fittings & equipment
33% on cost
Motor vehicles
25% reducing balance
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
CLEARWAY TRAFFIC SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 April 2014
474
2
476
Additions
61,296
-
61,296
Disposals
(474)
-
(474)
At 31 March 2015
61,296
2
61,298
Depreciation
At 1 April 2014
474
-
474
On disposals
(474)
-
(474)
Charge for the year
7,493
-
7,493
At 31 March 2015
7,493
-
7,493
Net book value
At 31 March 2015
53,803
2
53,805
At 31 March 2014
-
2
2
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Clearway Traffic Management Limited
England & Wales
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
Clearway Traffic Management Limited
Dormant Company
2
-
CLEARWAY TRAFFIC SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
3
Debtors
The company is party to a factoring agreement with HSBC Invoice Finance (UK) Limited. Trade debtors represents gross debts of £111,020 (2014 - £27,022) less non returnable proceeds of £53,023 (2014 - £nil). The company is not required to support bad debts in respect of factored debts and HSBC Invoice Finance (UK) Limited have stated in writing that they will not seek recourse other than out of factored debts.
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
5
Ultimate parent company
The immediate parent company is
DJG Management Services Limited
, a company registered in England and Wales,
and the ultimate parent company is
DJG Construction Management Limited
, a company registered in
England and Wales.