Croysdale Engineering Services Limited
|
Registered number: |
07753942
|
Balance Sheet |
as at 31 August 2017
|
|
Notes |
|
|
2017 |
|
|
2016 |
£ |
£ |
Fixed assets |
Tangible assets |
4 |
|
|
185 |
|
|
1,126 |
Investments |
5 |
|
|
10 |
|
|
10 |
|
|
|
|
195 |
|
|
1,136 |
|
Current assets |
Stocks |
|
|
- |
|
|
- |
Debtors |
6 |
|
23,883 |
|
|
20,770 |
Cash at bank and in hand |
|
|
- |
|
|
- |
|
|
|
23,883 |
|
|
20,770 |
|
Creditors: amounts falling due within one year |
7 |
|
(28,277) |
|
|
(21,680) |
|
Net current liabilities |
|
|
|
(4,394) |
|
|
(910) |
|
Total assets less current liabilities |
|
|
|
(4,199) |
|
|
226 |
|
Creditors: amounts falling due after more than one year |
9 |
|
|
- |
|
|
- |
|
Provisions for liabilities |
|
|
|
(36) |
|
|
(225) |
|
|
Net (liabilities)/assets |
|
|
|
(4,235) |
|
|
1 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Profit and loss account |
|
|
|
(4,236) |
|
|
- |
|
Shareholder's funds |
|
|
|
(4,235) |
|
|
1 |
|
|
|
|
|
|
|
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The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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Keith F Croysdale |
Director |
Approved by the board on 14 August 2018
|
|
Croysdale Engineering Services Limited |
Notes to the Accounts |
for the year ended 31 August 2017 |
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|
1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
|
|
Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
33% on cost |
|
|
|
Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Group accounts |
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The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore talen advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Investments |
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Fixed asset investments are stated at cost less provision for dimunution in value. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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|
4 |
Tangible fixed assets |
|
|
|
|
Computer equipment |
|
|
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Total |
£ |
£ |
|
Cost |
|
At 1 September 2016 |
3,620 |
|
|
|
3,620 |
|
Additions |
- |
|
|
|
- |
|
Surplus on revaluation |
- |
|
|
|
- |
|
Disposals |
- |
|
|
|
- |
|
At 31 August 2017 |
3,620 |
|
|
|
3,620 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2016 |
2,494 |
|
|
|
2,494 |
|
Charge for the year |
941 |
|
|
|
941 |
|
Surplus on revaluation |
- |
|
|
|
- |
|
On disposals |
- |
|
|
|
- |
|
At 31 August 2017 |
3,435 |
|
|
|
3,435 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2017 |
185 |
|
|
|
185 |
|
At 31 August 2016 |
1,126 |
|
|
|
1,126 |
|
|
|
|
|
|
|
|
|
|
|
|
5 |
Investments |
Investments in |
subsidiary |
Other |
undertakings |
investments |
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 September 2016 |
10 |
|
- |
|
10 |
|
Additions |
- |
|
- |
|
- |
|
Revaluation |
- |
|
- |
|
- |
|
Disposals |
- |
|
- |
|
- |
|
|
At 31 August 2017 |
10 |
|
- |
|
10 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 September 2016 |
10 |
|
- |
|
At 31 August 2017 |
10 |
|
- |
|
|
|
|
|
|
|
|
|
6 |
Debtors |
2017 |
|
2016 |
£ |
£ |
|
|
Trade debtors |
7,913 |
|
5,033 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
- |
|
- |
|
VAT |
|
|
|
|
2,264 |
|
1,539 |
|
Deferred tax asset |
|
|
|
|
- |
|
- |
|
Other debtors |
13,706 |
|
14,198 |
|
|
|
|
|
|
23,883 |
|
20,770 |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
£ |
£ |
|
|
Non-equity preference shares |
- |
|
- |
|
Bank loans and overdrafts |
5,035 |
|
4,123 |
|
Obligations under finance lease and hire purchase contracts |
- |
|
- |
|
Trade creditors |
72 |
|
72 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
13,986 |
|
8,186 |
|
Taxation and social security costs |
4,480 |
|
5,729 |
|
Other creditors |
4,704 |
|
3,570 |
|
|
|
|
|
|
28,277 |
|
21,680 |
|
|
|
|
|
|
|
|
|
|
8 |
Operating lease commitments |
2017 |
|
2016 |
£ |
£ |
|
Expiring within one year: |
|
Obligations under finance lease and hire purchase contracts |
- |
|
- |
|
|
|
|
|
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
9 |
Provision for liabilities |
|
|
|
|
|
|
2017 |
|
2016 |
£ |
£ |
|
Deferred tax |
|
Accelerated capital allownaces |
|
36 |
|
225 |
|
|
|
|
|
|
36 |
|
225 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax |
|
|
|
|
|
|
|
|
|
£ |
|
Balance at 1 September 2016 |
225 |
|
Provided during year |
(189) |
|
Balance at 31 August 2017 |
36 |
|
|
|
|
|
|
|
|
|
|
|
10 |
Director's advances, credits and guarantees |
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|
The following advances and credits to a director subsisted during the years ended 31 August 2017 and 31 August 2016 |
|
|
|
|
|
|
|
2017 |
|
2016 |
£ |
£ |
|
|
K F Croysdale |
|
Balance outstanding at start of year |
11,896 |
|
38,507 |
|
Amounts advanced |
478 |
|
10,933 |
|
Amounts repaid |
(970) |
|
(37,544) |
|
Balance outstanding at end of year |
11,404 |
|
11,896 |
|
|
Interest has been charged on the above loan at a rate of 3% (2016 - 3%) |
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During the year dividends of £NIL (2016 - £30,150) were declared for K F Croysdale. |
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|
|
11 |
Related party transactions |
|
|
ACPL Europe Ltd |
|
Subsidiary company |
|
|
|
|
|
|
2017 |
|
2016 |
£ |
£ |
|
Sales |
|
|
|
|
0 |
|
6,495 |
|
Debtor |
|
|
|
|
0 |
|
0 |
|
Creditor |
|
|
|
|
13,986 |
|
8,186 |
|
|
12 |
Ultimate controlling party |
|
|
The controlling party is K F Croysdale. |