Singleton Engineering Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09683567 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2019

for

Singleton Engineering Solutions Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G W Singleton

REGISTERED OFFICE:

Unit B7

Farrington Close

Burnley

BB11 5SH

REGISTERED NUMBER:

09683567 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Tangible assets

4

23,087

11,090

CURRENT ASSETS

Debtors

37,264

45,018

Cash at bank

46,840

11,926

84,104

56,944

CREDITORS

Amounts falling due within one year

76,236

47,129

NET CURRENT ASSETS

7,868

9,815

TOTAL ASSETS LESS CURRENT LIABILITIES

30,955

20,905

PROVISIONS FOR LIABILITIES

4,387

-

NET ASSETS

26,568

20,905

CAPITAL AND RESERVES

Called up share capital

5

1,000

1,000

Retained earnings

25,568

19,905

SHAREHOLDERS' FUNDS

26,568

20,905

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 6 February 2020 and were signed by:

G W Singleton - Director

1.	STATUTORY INFORMATION

Singleton Engineering Solutions Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

The company sells fabrication services to other manufacturers and customers. Revenue is recognised in the accounting

period in which the services are rendered when the outcome of contract can be estimated reliably. The company uses the

percentage of completion method based on the actual service performed as a percentage of the total services to be provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Motor vehicles

-

25% on reducing balance

Financial instruments

Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper,

are initially recognised at transaction price, 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.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and

preference shares that are classified as debt, 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 receipts discounted at a

market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2018

22,691

Additions

24,126

At 31 July 2019

46,817

DEPRECIATION

At 1 August 2018

11,601

Charge for year

12,129

At 31 July 2019

23,730

NET BOOK VALUE

At 31 July 2019

23,087

At 31 July 2018

11,090

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/7/19

31/7/18

value:

£

£

1,000

Ordinary

£1

1,000

1,000