Specialist Umbilical Services Limited Accounts
Specialist Umbilical Services Limited Accounts
Specialist Umbilical Services Limited FILLETED ACCOUNTS COVER |
Company No. 05400873 | |||||||||
Specialist Umbilical Services Limited DIRECTORS REPORT REGISTRAR |
The Directors present their report and the accounts for the year ended 31 March 2020. | |||||||||
Principal activities | |||||||||
Directors | |||||||||
The Directors who served at any time during the year were as follows: | |||||||||
D. Humphreys | |||||||||
L.S. West | |||||||||
Signed on behalf of the board | |||||||||
D. Humphreys | |||||||||
Company Secretary | |||||||||
28 August 2020 |
Specialist Umbilical Services Limited BALANCE SHEET REGISTRAR |
at | ||||||||||
Company No. | Notes | 2020 | 2019 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Tangible assets | 3 | |||||||||
Current assets | ||||||||||
Stocks | 4 | |||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 6 | ( | ||||||||
Net current assets | ||||||||||
Total assets less current liabilities | ||||||||||
Net assets | ||||||||||
Capital and reserves | ||||||||||
Called up share capital | ||||||||||
Profit and loss account | 7 | |||||||||
Total equity | ||||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on 28 August 2020 | ||||||||||
And signed on its behalf by: | ||||||||||
D. Humphreys | ||||||||||
Director | ||||||||||
28 August 2020 |
Specialist Umbilical Services Limited NOTES TO THE ACCOUNTS REGISTRAR |
for the year ended 31 March 2020 | ||||||||||||||
1 | Accounting policies | |||||||||||||
Basis of preparation | ||||||||||||||
Turnover | ||||||||||||||
Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. | ||||||||||||||
Taxation | ||||||||||||||
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period. | ||||||||||||||
Trade and other debtors | ||||||||||||||
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts. | ||||||||||||||
Trade and other creditors | ||||||||||||||
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. | ||||||||||||||
Pensions | ||||||||||||||
Provisions | ||||||||||||||
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at 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 the balance sheet. | ||||||||||||||
2 | Employees | |||||||||||||
2020 | 2019 | |||||||||||||
Number | Number | |||||||||||||
The average number of persons employed during the year : | ||||||||||||||
3 | Tangible fixed assets | |||||||||||||
Fixtures, fittings and equipment | Total | |||||||||||||
£ | £ | |||||||||||||
Cost or revaluation | ||||||||||||||
At 1 April 2019 | ||||||||||||||
At 31 March 2020 | ||||||||||||||
Depreciation | ||||||||||||||
At 1 April 2019 | ||||||||||||||
At 31 March 2020 | ||||||||||||||
Net book values | ||||||||||||||
At 31 March 2020 | ||||||||||||||
At 31 March 2019 | ||||||||||||||
4 | Stocks | |||||||||||||
2020 | 2019 | |||||||||||||
£ | £ | |||||||||||||
Work in progress | ||||||||||||||
5 | Debtors | |||||||||||||
2020 | 2019 | |||||||||||||
£ | £ | |||||||||||||
Trade debtors | ||||||||||||||
6 | Creditors: | |||||||||||||
amounts falling due within one year | ||||||||||||||
2020 | 2019 | |||||||||||||
£ | £ | |||||||||||||
Trade creditors | ( | |||||||||||||
Other taxes and social security | ( | ( | ||||||||||||
Loans from directors | ( | |||||||||||||
Accruals and deferred income | ||||||||||||||
( | ||||||||||||||
7 | Reserves | |||||||||||||
8 | Dividends | |||||||||||||
2020 | 2019 | |||||||||||||
£ | £ | |||||||||||||
Dividends for the period: | ||||||||||||||
Dividends paid in the period | 2,000 | - | ||||||||||||
Dividends by type: | ||||||||||||||
Equity dividends | ||||||||||||||
2,000 | - | |||||||||||||
9 | Related party disclosures | |||||||||||||
Controlling party | ||||||||||||||
Immediate controlling party | ||||||||||||||
10 | Additional information | |||||||||||||
Its registered number is: | ||||||||||||||
Its registered office is: | ||||||||||||||