Company Registration No. 07278145 (England and Wales)
Composites Construction UK Limited
Unaudited accounts
for the year ended 31 March 2017
Composites Construction UK Limited
Unaudited accounts
Contents
Composites Construction UK Limited
Company Information
for the year ended 31 March 2017
Directors
Dimitris Koutsoukos
Jamie Dempster
Company Number
07278145 (England and Wales)
Registered Office
UNIT 20 UNIT FACTORY ESTATE
ARGYLE STREET
HULL
HU3 1HD
ENGLAND
Accountants
Hemingway Bailey Ltd.
Suite 2
117 - 119 Walkergate
Beverley
East Riding-Yorkshire
HU17 9BP
Composites Construction UK Limited
Statement of financial position
as at
31 March 2017
Tangible assets
5,466
10,061
Cash at bank and in hand
33,294
344,361
Creditors: amounts falling due within one year
(30,964)
(289,760)
Net current assets
3,099
405,872
Total assets less current liabilities
8,565
415,933
Creditors: amounts falling due after more than one year
(183,984)
(363,551)
Net (liabilities)/assets
(175,419)
52,382
Called up share capital
325,925
325,925
Profit and loss account
(501,344)
(273,543)
Shareholders' funds
(175,419)
52,382
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 21 December 2017.
Jamie Dempster
Director
Company Registration No. 07278145
Composites Construction UK Limited
Notes to the Accounts
for the year ended 31 March 2017
Composites Construction UK Limited is a private company, limited by shares, registered in England and Wales, registration number 07278145. The registered office is UNIT 20 UNIT FACTORY ESTATE, ARGYLE STREET, HULL, HU3 1HD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% straight line
Plant & machinery
25% straight line
Motor vehicles
33% straight line
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Composites Construction UK Limited
Notes to the Accounts
for the year ended 31 March 2017
Deferred tax 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 tax 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.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2016
2,577
14,297
4,495
1,515
3,041
25,925
Additions
-
-
-
-
730
730
Disposals
(2,577)
-
-
-
-
(2,577)
At 31 March 2017
-
14,297
4,495
1,515
3,771
24,078
At 1 April 2016
284
11,980
989
336
2,275
15,864
Charge for the year
-
661
1,498
339
534
3,032
On disposals
(284)
-
-
-
-
(284)
At 31 March 2017
-
12,641
2,487
675
2,809
18,612
At 31 March 2017
-
1,656
2,008
840
962
5,466
At 31 March 2016
2,293
2,317
3,506
1,179
766
10,061
Accrued income and prepayments
-
126,555
Composites Construction UK Limited
Notes to the Accounts
for the year ended 31 March 2017
7
Creditors: amounts falling due within one year
2017
2016
Trade creditors
-
144,374
Taxes and social security
29,713
123,566
Other creditors
11
21,820
8
Creditors: amounts falling due after more than one year
2017
2016
Amounts owed to group undertakings and other participating interests
183,984
363,551
9
Share capital
2017
2016
Allotted, called up and fully paid:
325,925 Ordinary shares of £1 each
325,925
325,925
10
Transactions with related parties
During the year under review Fibrwrap Construction Europe Ltd, a company under common control, had provided professional services to the sum of £6,689 ( prior year £6,689 of purchases ) by the company, and the company paid monies in the sum of £0 ( prior year £500 ) to Fibrwrap Construction Europe Ltd. The balance owed by the company at the year end was nil .
The ultimate controlling party is Fibrwrap Construction Europe Ltd by virtue of their 100% ownership of the share capital in the company.
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Average number of employees
During the year the average number of employees was 3 (2016: 3).