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Unaudited Financial Statements |
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for the Year Ended 31 March 2020 |
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for |
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Craig Strong Machine Tools Limited |
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Unaudited Financial Statements |
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for the Year Ended 31 March 2020 |
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for |
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Craig Strong Machine Tools Limited |
Craig Strong Machine Tools Limited (Registered number: 00901837) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Craig Strong Machine Tools Limited |
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Company Information |
for the Year Ended 31 March 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
Leofric House |
Binley Road |
Coventry |
CV3 1JN |
Craig Strong Machine Tools Limited (Registered number: 00901837) |
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Abridged Balance Sheet |
31 March 2020 |
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31.3.20 | 31.3.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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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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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 directors acknowledge their 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. |
Craig Strong Machine Tools Limited (Registered number: 00901837) |
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Abridged Balance Sheet - continued |
31 March 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Craig Strong Machine Tools Limited (Registered number: 00901837) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
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1. | STATUTORY INFORMATION |
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Craig Strong Machine Tools Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods and rentals received on machine hire excluding value added tax. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Deferred taxation |
Deferred taxation arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred taxation is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. |
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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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Craig Strong Machine Tools Limited (Registered number: 00901837) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2019 |
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Additions |
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Disposals | ( |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1 April 2019 |
and 31 March 2020 | 50 |
NET BOOK VALUE |
At 31 March 2020 | 50 |
At 31 March 2019 | 50 |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.20 | 31.3.19 |
£ | £ |
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The directors have provided personal guarantees in respect of the company's overdraft facility. |
Craig Strong Machine Tools Limited (Registered number: 00901837) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 March 2020 and 31 March 2019: |
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31.3.20 | 31.3.19 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Interest was charged on the above loan at the HMRC official rate and was repaid in full following the balance sheet date. |
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8. | RELATED PARTY DISCLOSURES |
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Transactions with 1st Machinery Auctions Limited: |
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The company traded with 1st Machinery Auctions Limited, a company which is jointly controlled by Craig Strong Limited and in which Mr P Strong is a director. In relation to intercompany transactions, £30,444 (2019: £80,444) was owed from 1st Machinery Auctions Limited at the year end. |
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During the year, the company made sales to and purchases from 1st Machinery Auctions Limited, amounting to £34,100 (2019: £205,936) and £Nil (2019: £54,354) respectively. |
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9. | ULTIMATE CONTROLLING PARTY |
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During the year ended 31 March 2018, the directors Mr Paul Strong and Mrs Julie Strong controlled the company by virtue of a controlling interest of 100% of the issued ordinary share capital. |