CTS PLANT SERVICES LIMITED

CTS PLANT SERVICES LIMITED

CTS PLANT SERVICES LIMITED - Company Information

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CTS PLANT SERVICES LIMITED

Company Registration Number:
10439213 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2018

Period of accounts

Start date: 01 November 2017

End date: 31 October 2018

CTS PLANT SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2018

Balance sheet
Notes

CTS PLANT SERVICES LIMITED

Balance sheet

As at 31 October 2018


Notes
2018
2017


£
£
Fixed assets
Intangible assets: 3 1 1
Tangible assets: 4 27,972 9,117
Total fixed assets: 27,973 9,118
Current assets
Debtors:   29,489 35,073
Cash at bank and in hand: 35,611 30,945
Total current assets: 65,100 66,018
Creditors: amounts falling due within one year: 5 (31,120) (84,371)
Net current assets (liabilities): 33,980 (18,353)
Total assets less current liabilities: 61,953 (9,235)
Provision for liabilities: (5,314)
Total net assets (liabilities): 56,639 (9,235)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 56,539 (9,335)
Shareholders funds: 56,639 (9,235)

The notes form part of these financial statements

CTS PLANT SERVICES LIMITED

Balance sheet statements

For the year ending 31 October 2018 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 July 2019
and signed on behalf of the board by:

Name: C T Shea
Status: Director

The notes form part of these financial statements

CTS PLANT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at fair value of the consideration received or receivable, net of discounts and value added tax. Turnover represents revenue earned from the refurbishment and sale of plant and machinery.Turnover is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually when the goods have been delivered to customers such that the risks and rewards of ownership have been transferred to them.

Tangible fixed assets and depreciation policy

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, other than freehold land, over their expected useful lives. The annual rates and methods of depreciation are as follows:Plant and equipment - 25% straight line basisComputer equipment - 20% straight line basis

Intangible fixed assets and amortisation policy

Intangible fixed assets are measured at cost less accumulated amortisation and any accumulated impairment losses.Amortisation is charged so as to allocate the cost of intangible assets less their residual value over their estimated useful lives. Goodwill in this company has not been amortised as the cost is £1.

Other accounting policies

Pension contributionsThe company has a defined contribution pension scheme. The pension costs charged to the profit and loss account are the contributions payable in respect of the accounting period.TaxationThe tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised in other comprehensive income.Current tax is recognised for the amount of corporation tax payable in respect of the taxable profit for the year using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is calculated using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

CTS PLANT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

2. Employees

2018 2017
Average number of employees during the period 4 2

CTS PLANT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

3. Intangible Assets

Total
Cost £
At 01 November 2017 1
At 31 October 2018 1
Net book value
At 31 October 2018 1
At 31 October 2017 1

CTS PLANT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

4. Tangible Assets

Total
Cost £
At 01 November 2017 9,451
Additions 25,120
At 31 October 2018 34,571
Depreciation
At 01 November 2017 334
Charge for year 6,265
At 31 October 2018 6,599
Net book value
At 31 October 2018 27,972
At 31 October 2017 9,117

CTS PLANT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

5. Creditors: amounts falling due within one year note

Trade creditors £11,882 (2018 : £58,427)Social security & other taxes £343 (2018 : £4,443)Other creditors £8,901 (2018 : £20,001)Corporation tax £7,994 (2018 : £Nil)Accruals £2,000 (2018 : £1,500)TOTAL £31,120 (2018 : £84,371)

CTS PLANT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

6. Loans to directors

Name of director receiving advance or credit: C T Shea
Description of the loan: Interest free loan
£
Balance at 01 November 2017 190
Advances or credits repaid: 190
Balance at 31 October 2018 0