Sub-Struct Limited - Accounts to registrar - small 17.2

Sub-Struct Limited - Accounts to registrar - small 17.2

SUB-STRUCT LIMITED - Company Information

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REGISTERED NUMBER: 03149097 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2016

FOR

SUB-STRUCT LIMITED

SUB-STRUCT LIMITED (REGISTERED NUMBER: 03149097)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUB-STRUCT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTOR: Mr B Painter





SECRETARY: Mr C J Painter





REGISTERED OFFICE: Compton
10 The Grove
Hampton In Arden
Solihull
West Midlands
B92 0HD





REGISTERED NUMBER: 03149097 (England and Wales)





ACCOUNTANTS: Williams, Ashton & Anderson Limited
359 Yardley Road
Yardley
Birmingham
West Midlands
B25 8NB
1
SUB-STRUCT LIMITED (REGISTERED NUMBER: 03149097)

BALANCE SHEET
31 DECEMBER 2016

31.12.16 31.12.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 3,780 5,040
Investment property 4 505,000 505,000
508,780 510,040

CREDITORS
Amounts falling due within one year 5 224,756 217,398
NET CURRENT LIABILITIES (224,756 ) (217,398 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
284,024
292,642

CREDITORS
Amounts falling due after more than one
year
6
(244,565
)
(259,416
)

PROVISIONS FOR LIABILITIES 9 (2,034 ) -
NET ASSETS 37,425 33,226

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 39,231 41,265
Retained earnings 11 (1,906 ) (8,139 )
SHAREHOLDERS' FUNDS 37,425 33,226

The notes form part of these financial statements

2 continued...
SUB-STRUCT LIMITED (REGISTERED NUMBER: 03149097)

BALANCE SHEET - continued
31 DECEMBER 2016


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 19 September 2017 and were signed by:





Mr B Painter - Director


The notes form part of these financial statements

3
SUB-STRUCT LIMITED (REGISTERED NUMBER: 03149097)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016


1. STATUTORY INFORMATION

Sub-Struct Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property furniture - 25% on reducing balance
Plant and equipment - 25% on reducing balance
Office furniture - 25% on reducing balance
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.

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.

4 continued...
SUB-STRUCT LIMITED (REGISTERED NUMBER: 03149097)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


3. TANGIBLE FIXED ASSETS
Property Plant and Office
furniture equipment furniture
£    £    £   
COST
At 1 January 2016
and 31 December 2016 2,648 23,445 3,355
DEPRECIATION
At 1 January 2016 2,556 21,217 2,692
Charge for year 23 557 166
At 31 December 2016 2,579 21,774 2,858
NET BOOK VALUE
At 31 December 2016 69 1,671 497
At 31 December 2015 92 2,228 663

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2016
and 31 December 2016 8,771 8,055 46,274
DEPRECIATION
At 1 January 2016 6,714 8,055 41,234
Charge for year 514 - 1,260
At 31 December 2016 7,228 8,055 42,494
NET BOOK VALUE
At 31 December 2016 1,543 - 3,780
At 31 December 2015 2,057 - 5,040

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2016
and 31 December 2016 505,000
NET BOOK VALUE
At 31 December 2016 505,000
At 31 December 2015 505,000

5 continued...
SUB-STRUCT LIMITED (REGISTERED NUMBER: 03149097)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


4. INVESTMENT PROPERTY - continued

Cost or valuation at 31 December 2016 is represented by:

£   
Valuation in 2004 129,054
Valuation in 2005 10,770
Valuation in 2006 24,441
Valuation in 2007 (88,000 )
Valuation in 2012 (35,000 )
Cost 463,735
505,000

The director Mr B Painter has owned several properties over the years and is of the opinion that the
fair value of investment properties included in the accounts is an accurate reflection based on current
market values of similar properties.

The most recent valuation of the investment properties was carried out at 31 December 2015 by the
director, which took into account the cost of properties and expenditure on improvements during
previous years. During 2016, there have been no further improvements or changes to the property
valuations.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
£    £   
Bank loans and overdrafts (see note 7) 20,169 20,694
VAT 6,608 6,608
Directors' current accounts 195,857 187,859
Accruals and deferred income 2,122 2,237
224,756 217,398

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.16 31.12.15
£    £   
Bank loans (see note 7) 244,565 259,416

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - > 5 years by instalments 189,565 204,416

6 continued...
SUB-STRUCT LIMITED (REGISTERED NUMBER: 03149097)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


7. LOANS

An analysis of the maturity of loans is given below:

31.12.16 31.12.15
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 6,419 6,944
Bank loans 13,750 13,750
20,169 20,694

Amounts falling due between one and two years:
Bank loans - 1-2 years 13,750 13,750

Amounts falling due between two and five years:
Bank loans - 2-5 years 41,250 41,250

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - > 5 years by instalments 189,565 204,416

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.16 31.12.15
£    £   
Bank overdrafts 6,419 6,944
Bank loans 258,315 273,166
264,734 280,110

The bank borrowings are secured by fixed charges over the investment properties.

A debenture was created on 30 July 2006 to secure all monies due or to become due from the
company to the chargee, Lloyds Bank Plc on any account whatsoever.

9. PROVISIONS FOR LIABILITIES
31.12.16 31.12.15
£    £   
Deferred tax 2,034 -

Deferred
tax
£   
Provided during year 2,034
Balance at 31 December 2016 2,034

7 continued...
SUB-STRUCT LIMITED (REGISTERED NUMBER: 03149097)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.16 31.12.15
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2016 (8,139 ) 41,265 33,126
Profit for the year 6,233 6,233
Transfer to fair value reserve - (2,034 ) (2,034 )
At 31 December 2016 (1,906 ) 39,231 37,325

12. RELATED PARTY DISCLOSURES

At 31 December 2016, the balance due to the director on his loan account was £195,857 (2015:
£187,859). The director has also given a personal guarantee to Lloyds Bank Plc for up to £59,000.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr B Painter.

8