Company Registration No. 11262808 (England and Wales)
CRITICAL SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2019
PAGES FOR FILING WITH REGISTRAR
CRITICAL SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CRITICAL SERVICES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2019
30 November 2019
- 1 -
2019
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
1,157
Current assets
Stocks
-
15,000
Debtors
4
-
4,175
Cash at bank and in hand
40,294
23,115
40,294
42,290
Creditors: amounts falling due within one year
Taxation and social security
19,958
29,356
Other creditors
5
20,236
10,489
40,194
39,845
Net current assets
100
2,445
Total assets less current liabilities
100
3,602
Provisions for liabilities
-
(220)
Net assets
100
3,382
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
6
-
3,282
Total equity
100
3,382
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
The notes on pages 6-10 form an integral part of these financial statements.
For the financial Period ended 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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 Period 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
and FRS102 Section 1A.
CRITICAL SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2019
30 November 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 December 2019 and are signed on its behalf by:
Mr M N Brazier
G Buckett
Director
Director
Company Registration No. 11262808
CRITICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2019
- 3 -
1
Accounting policies
Company information
Critical Services Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Jubilee House, Jubilee Walk, Crawley, West Sussex, RH10 1LQ.
The principal activity of the company during the reporting period was that of
Mechanical and Electrical building services
engineering consultancy.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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 bases:
Computers
33% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Financial instruments
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
CRITICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2019
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax is recognized in respect of all material timing differences that have originated but not reversed at the balance sheet date.
1.6
Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the statement of income and retained earnings in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in Balance sheet.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was 1 (2019 - 1).
2019
2019
Number
Number
Employee
-
1
Director
1
-
1
1
CRITICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2019
- 5 -
3
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 July 2019
-
1,726
1,726
Additions
974
406
1,380
Disposals
(974)
(2,132)
(3,106)
At 30 November 2019
-
-
-
Depreciation and impairment
At 1 July 2019
-
569
569
Eliminated in respect of disposals
-
(569)
(569)
At 30 November 2019
-
-
-
Carrying amount
At 30 November 2019
-
-
-
At 30 June 2019
-
1,157
1,157
4
Debtors
2019
2019
Amounts falling due within one year:
£
£
Trade debtors
-
4,075
Other debtors
-
100
-
4,175
The directors consider the carrying value of trade and other receivables approximate to their fair value.
5
Other creditors falling due within one year
2019
2019
£
£
Trade creditors
-
2,655
Other creditors
20,137
5,834
Accruals and deferred income
99
2,000
20,236
10,489
The directors consider the carrying amounts of current liabilities approximate to their fair values.
6
Reserves
CRITICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2019
6
Reserves
(Continued)
- 6 -
Profit and loss reserves
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.
7
Related party transactions
During the year, the company purchased goods
and incurred expenses
for an amount of £
38,254
(201
9
:
£144,022
)
,
sold goods for an amount of
£166,861
(201
9
:
£302,920
)
and sold fixed assets of £2,000 (2019: £nil)
to Barbour Consulting
Limited
, a related party due to common directorships.
At the balance sheet date, included in other
debtors
was an amount of
£Nil
(201
9
:
£5,834 in other creditors
) owed
from
Barbour Consulting Ltd
and
included in other creditors was an
amount of
£
20,136
(201
9
:
£100 in other debtors
)
owed
to
directors.