Company Registration No. 09780356 (England and Wales)
LOW CARBON CONSTRUCTION PROJECTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2018
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
United Kingdom
PO6 3TH
LOW CARBON CONSTRUCTION PROJECTS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
LOW CARBON CONSTRUCTION PROJECTS LIMITED
COMPANY INFORMATION
- 1 -
Director
Ms. B Farrow
Company number
09780356
Registered office
Faretec Carnac Court
Cams Hall Estate
Fareham
PO16 8UY
Accountants
Taylorcocks
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
United Kingdom
PO6 3TH
LOW CARBON CONSTRUCTION PROJECTS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2018
30 April 2018
- 2 -
2018
2017
Notes
£
£
£
£
Current assets
Debtors
3
18,680
16,200
Cash at bank and in hand
424
163
19,104
16,363
Creditors: amounts falling due within one year
4
(1,261,000)
(484,770)
Net current liabilities
(1,241,896)
(468,407)
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(1,241,897)
(468,408)
Total equity
(1,241,896)
(468,407)
LOW CARBON CONSTRUCTION PROJECTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2018
30 April 2018
- 3 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 31 January 2019
Ms. B Farrow
Director
Company Registration No. 09780356
The notes on pages 4 to 6 form part of these financial statements
LOW CARBON CONSTRUCTION PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
- 4 -
1
Accounting policies
Company information
Low Carbon Construction Projects Limited
(09780356)
is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Faretec Carnac Court, Cams Hall Estate, Fareham, PO16 8UY.
1.1
Accounting convention
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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the balance sheet date the company's liabilities exceeded its assets. The day to day
operation of the company is dependent upon support from its director. As this support will continue to be
forthcoming, the director considers it appropriate to prepare the financial statements on a going concern
basis.
1.3
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
LOW CARBON CONSTRUCTION PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans
and
loans from
fellow group companies, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2017 - 1).
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
18,680
16,200
4
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
1,135,576
347,266
Other creditors
125,424
137,504
1,261,000
484,770
LOW CARBON CONSTRUCTION PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
- 6 -
5
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary shares of £1 each
1
1
1
1