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Financial Statements For The Year Ended 31 December 2018 |
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Clyde Corrosion Control Limited |
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REGISTERED NUMBER:
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Financial Statements For The Year Ended 31 December 2018 |
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for |
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Clyde Corrosion Control Limited |
Clyde Corrosion Control Limited (Registered number: SC227819) |
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Contents of the Financial Statements |
For The Year Ended 31 December 2018 |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Clyde Corrosion Control Limited |
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Company Information |
For The Year Ended 31 December 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
Clyde Corrosion Control Limited (Registered number: SC227819) |
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Abridged Statement of Financial Position |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Prepayments and accrued income |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her 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. |
Clyde Corrosion Control Limited (Registered number: SC227819) |
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Abridged Statement of Financial Position - continued |
31 December 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the director on
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Clyde Corrosion Control Limited (Registered number: SC227819) |
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Notes to the Financial Statements |
For The Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Clyde Corrosion Control Limited is a
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number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are |
physically delivered to the customer. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Short leasehold | - |
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Fixed plant and equipment | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and |
non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative |
financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
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Clyde Corrosion Control Limited (Registered number: SC227819) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of |
financial position date. |
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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. |
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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. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
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AMORTISATION |
At 1 January 2018 |
and 31 December 2018 |
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NET BOOK VALUE |
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At 31 December 2018 |
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At 31 December 2017 |
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Clyde Corrosion Control Limited (Registered number: SC227819) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Totals |
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COST |
Additions | 22,615 |
At 31 December 2018 | 22,615 |
DEPRECIATION |
Charge for year | 1,696 |
At 31 December 2018 | 1,696 |
NET BOOK VALUE |
At 31 December 2018 | 20,919 |
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6. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2018 | 2017 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Clyde Corrosion Control Limited (Registered number: SC227819) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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6. | LEASING AGREEMENTS - continued |
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Non-cancellable operating |
leases |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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7. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Mrs B Lowson who owns 100% of the share capital. |