Company Registration No. 07644731 (England and Wales)
CONCRETE CANVAS GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018
PAGES FOR FILING WITH REGISTRAR
CONCRETE CANVAS GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 6
CONCRETE CANVAS GROUP LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2018
31 August 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Investments
3
2,874
2,874
Current assets
Debtors
5
5,642,362
2,720,906
Cash at bank and in hand
37
1,673,167
5,642,399
4,394,073
Creditors: amounts falling due within one year
6
(139,225)
(2,198)
Net current assets
5,503,174
4,391,875
Total assets less current liabilities
5,506,048
4,394,749
Capital and reserves
Called up share capital
7
964
963
Share premium account
24,475
24,476
Capital redemption reserve
5,998
5,998
Profit and loss reserves
5,474,611
4,363,312
Total equity
5,506,048
4,394,749
The directors 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 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
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 by the board of directors and authorised for issue on 27 February 2019 and are signed on its behalf by:
Mr W C Crawford
Director
Company Registration No. 07644731
CONCRETE CANVAS GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2018
- 2 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 September 2016
962
14,515
5,998
3,169,526
3,191,001
Year ended 31 August 2017:
Profit and total comprehensive income for the year
-
-
-
1,406,482
1,406,482
Issue of share capital
7
2
9,960
-
-
9,962
Dividends
-
-
-
(212,696)
(212,696)
Balance at 31 August 2017
964
24,475
5,998
4,363,312
4,394,749
Year ended 31 August 2018:
Profit and total comprehensive income for the year
-
-
-
1,697,501
1,697,501
Dividends
-
-
-
(586,202)
(586,202)
Balance at 31 August 2018
964
24,475
5,998
5,474,611
5,506,048
CONCRETE CANVAS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018
- 3 -
1
Accounting policies
Company information
Concrete Canvas Group Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit 3, Block A22, Severn Road Treforest Industrial Estate, PONTYPRIDD, Mid Glamorgan, UK, CF37 5SP.
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. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.3
Cash at bank and in hand
Cash at bank and in hand
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.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
CONCRETE CANVAS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2018
1
Accounting policies (Continued)
- 4 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including loans from
fellow group companies are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
CONCRETE CANVAS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2018
- 5 -
2
Directors' remuneration
2018
2017
£
£
Remuneration paid to directors
-
-
Dividends paid to directors
400,002
212,696
3
Fixed asset investments
2018
2017
£
£
Investments
2,874
2,874
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 September 2017 & 31 August 2018
2,874
Carrying amount
At 31 August 2018
2,874
At 31 August 2017
2,874
4
Subsidiaries
Details of the company's subsidiaries at 31 August 2018 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Concrete Canvas Limited
UK
Manufacture and sale of concrete products
Ordinary
100.00
Concrete Canvas Properties Limited
UK
Property rental
Ordinary
100.00
Concrete Canvas Technology Limited
UK
Provision of intellectual property
Ordinary
100.00
5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
5,642,362
2,720,906
CONCRETE CANVAS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2018
- 6 -
6
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
3,731
-
Other creditors
135,494
2,198
139,225
2,198
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
962,000 Ordinary shares of 0.1p each
962
962
2 Non-voting shares of £1 each
2
2
964
964
As at September 1st 2018 there were 2,922 shares valued at £10.95 remaining to be issued as part of the share option scheme. None of these options were exercised during the year.
As at September 1st 2018 there were 15,989 shares valued at £6.80 remaining to be issued as part of the share option scheme. None of these options were exercised during the year.
No further share options were granted in the year.
2018-08-31
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false
CCH Software
CCH Accounts Production 2018.300
No description of principal activity
28 February 2019
Mr W C Crawford
Mr P E Brewin
Mr R D Winter
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