Registered number: 09586753 | ||||||||
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FOR THE YEAR ENDED 31 MARCH 2017 | ||||||||
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Prepared By: | ||||||||
Greywalls Accountants Limited | ||||||||
13 Isis Lake | ||||||||
Spine Road | ||||||||
South Cerney | ||||||||
Cirencester | ||||||||
GL7 5LT |
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Facade Design & Engineering Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 MARCH 2017 | ||||||||
DIRECTORS | ||||||||
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REGISTERED OFFICE | ||||||||
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Wiltshire | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 09586753 | ||||||||
ACCOUNTANTS | ||||||||
Greywalls Accountants Limited | ||||||||
13 Isis Lake | ||||||||
Spine Road | ||||||||
South Cerney | ||||||||
Cirencester | ||||||||
GL7 5LT |
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Facade Design & Engineering Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 MARCH 2017 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
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Facade Design & Engineering Limited | ||||||||
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BALANCE SHEET AT
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2017 | 2016 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 |
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CURRENT ASSETS | ||||||||||
Debtors | 3 | 450,839 | 496,485 | |||||||
Cash at bank and in hand |
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454,096 | 497,949 | |||||||||
CREDITORS: Amounts falling due within one year | 4 | 81,743 | 192,981 | |||||||
NET CURRENT ASSETS | 372,353 | 304,968 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | 372,947 | 306,038 | ||||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 6 | 113 | 214 | |||||||
NET ASSETS | 372,834 | 305,824 | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 7 | 185 | 185 | |||||||
Profit and loss account | 372,649 | 305,639 | ||||||||
SHAREHOLDERS' FUNDS |
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305,824 | ||||||||
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The directors have decided not to deliver to the registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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Facade Design & Engineering Limited | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 MARCH 2017 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Going Concern | ||||||||
The company continues to be profitable and the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the annual financial statements. |
1c. Depreciation | ||||||||
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Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: | ||||||||
Equipment | straight line 33 % |
1d. Basis Of Accounting FRS 1021 a | ||||||||
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 have been prepared under the historical cost convention. The principal accounting policies are set out in this note. | ||||||||
These financial statments are the first financial statements prepared in accordance with FRS 102. The financial statements for the year ended 31 March 2016 were prepared in accordance with previous UK GAAP. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102. | ||||||||
Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting policy choices differ from previous UK GAAP. Consequently, the directors have amended certain accounting policies to comply with FRS 102. The directors have also taken advantage of certain exemptions from the requirements of FRS 102 permitted by FRS 102 Chapter 35 'Transition to this FRS'. |
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Facade Design & Engineering Limited | ||||||||
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2. TANGIBLE FIXED ASSETS | ||||
Equipment | Total | |||
£ | £ | |||
Cost | ||||
At 1 April 2016 | 1,427 | 1,427 | ||
At 31 March 2017 | 1,427 | 1,427 | ||
Depreciation | ||||
At 1 April 2016 | 357 | 357 | ||
For the year | 476 | 476 | ||
At 31 March 2017 | 833 | 833 | ||
Net Book Amounts | ||||
At 31 March 2017 |
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At 31 March 2016 |
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3. DEBTORS | 2017 | 2016 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 450,659 | 496,300 | ||||||
Other debtors | - | 185 | ||||||
Directors current account | 180 | - | ||||||
450,839 | 496,485 | |||||||
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2017 | 2016 | |||||||
£ | £ | |||||||
UK corporation tax | 17,311 | 76,604 | ||||||
VAT | 46,766 | 103,631 | ||||||
PAYE control | 10,134 | 10,305 | ||||||
Trade creditors | 6,032 | 739 | ||||||
Accruals | 1,500 | 1,702 | ||||||
81,743 | 192,981 | |||||||
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Facade Design & Engineering Limited | ||||||||
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5. EMPLOYEES | ||||||
2017 | 2016 | |||||
No. | No. | |||||
Average number of employees | 7 | 7 | ||||
6. PROVISIONS FOR LIABILITIES | 2017 | 2016 | ||||||
£ | £ | |||||||
Deferred taxation | 113 | 214 | ||||||
113 | 214 | |||||||
7. SHARE CAPITAL | 2017 | 2016 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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185 | 185 | ||||||
185 | 185 | |||||||
8. CONTROLLING PARTY | ||||||||
The ultimate controlling party is Mr P N Hillyard by virtue of his majority shareholding. | ||||||||
9. RELATED PARTY TRANSACTIONS | ||||||||
D & B Facades UK LImited - related by common ownership | ||||||||
During the year the company provided services to D & B Facades UK Limited as the primary subcontractor on a number of major projects, the total value of these services in the year was £7,157,886 (2016 - £5,081,003. All transactions were conducted on an open market basis. | ||||||||
The amount due from the related party at the balance sheet date was £450,658 (2016 - £496,300). | ||||||||
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Facade Design & Engineering Limited | ||||||||
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10. JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY | ||||||||
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. | ||||||||
Critical judgements - The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. | ||||||||
Work in progress - work in progress is valued at the recoverable amount of costs incurred but not invoiced at the year end date. Calculation of this amount requires judgements to be made on the recoverability of costs incurred. Accrued income - accrued income is valued at the recoverable amount of services provided but not invoiced at the year end date. Calculation of this amount requires judgements to be made on the recoverability of costs incurred. |