Company Registration No. 06048354 (England and Wales)
South Coast Fabrications Limited
Unaudited accounts
for the year ended 28 August 2018
South Coast Fabrications Limited
Unaudited accounts
Contents
South Coast Fabrications Limited
Company Information
for the year ended 28 August 2018
Company Number
06048354 (England and Wales)
Registered Office
Unit 10 Forest Corner Farm
Hangersley
Ringwood
Hampshire
BH24 3JW
Accountants
M. Whittingham Limited
Cinechrome Studios
64-68 Calvin Road
Bournemouth
Dorset
BH9 1LN
South Coast Fabrications Limited
Statement of financial position
as at 28 August 2018
Tangible assets
25,106
32,231
Cash at bank and in hand
4,159
38
Creditors: amounts falling due within one year
(129,044)
(110,455)
Net current assets
305,574
242,045
Total assets less current liabilities
330,680
274,276
Creditors: amounts falling due after more than one year
(2,021)
(4,446)
Provisions for liabilities
Deferred tax
(4,770)
(6,314)
Net assets
323,889
263,516
Called up share capital
4
4
Profit and loss account
323,885
263,512
Shareholders' funds
323,889
263,516
For the year ending 28 August 2018 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 director acknowledges his 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 28 May 2019.
J S Singh
Director
Company Registration No. 06048354
South Coast Fabrications Limited
Notes to the Accounts
for the year ended 28 August 2018
South Coast Fabrications Limited is a private company, limited by shares, registered in England and Wales, registration number 06048354. The registered office is Unit 10 Forest Corner Farm, Hangersley, Ringwood, Hampshire, BH24 3JW.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balane
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.
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.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
South Coast Fabrications Limited
Notes to the Accounts
for the year ended 28 August 2018
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 29 August 2017
77,825
18,750
795
17,640
115,010
At 28 August 2018
77,825
18,750
795
17,640
115,010
At 29 August 2017
59,179
8,738
549
14,313
82,779
Charge for the year
3,729
2,503
61
832
7,125
At 28 August 2018
62,908
11,241
610
15,145
89,904
At 28 August 2018
14,917
7,509
185
2,495
25,106
At 28 August 2017
18,646
10,012
246
3,327
32,231
Trade debtors
400,102
320,137
Accrued income and prepayments
1,037
1,051
Other debtors
22,970
22,620
7
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
-
1,967
Obligations under finance leases and hire purchase contracts
2,425
2,425
Trade creditors
45,928
45,188
Taxes and social security
78,811
58,216
8
Creditors: amounts falling due after more than one year
2018
2017
Obligations under finance leases and hire purchase contracts
2,021
4,446
South Coast Fabrications Limited
Notes to the Accounts
for the year ended 28 August 2018
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
10
Transactions with related parties
During the period net sales of £363,899 were made to Sinbar Associates Limited who own 100% of the share capital in the company.
11
Average number of employees
During the year the average number of employees was 5 (2017: 5).
