Company Registration No. 08349463 (England and Wales)
Compact Rails & Systems Limited
Unaudited accounts
for the year ended 31 January 2017
Compact Rails & Systems Limited
Unaudited accounts
Contents
Compact Rails & Systems Limited
Company Information
for the year ended 31 January 2017
Directors
Mark Wilkinson
Michelle Wilkinson
Company Number
08349463 (England and Wales)
Registered Office
UNIT 2 , RINGWAY HOUSE
UNITED DOWNS INDUSTRIAL PARK
REDRUTH
CORNWALL
TR16 5HY
ENGLAND
Accountants
Batesons
2 Statham Court
Statham Street
Macclesfield
Cheshire
SK11 6XN
Compact Rails & Systems Limited
Statement of financial position
as at 31 January 2017
Tangible assets
10,728
10,522
Cash at bank and in hand
967
100
Creditors: amounts falling due within one year
(9,400)
(3,719)
Net current assets/(liabilities)
6,416
(597)
Total assets less current liabilities
17,144
9,925
Creditors: amounts falling due after more than one year
(7,932)
(3,824)
Provisions for liabilities
Deferred tax
(2,146)
(2,104)
Called up share capital
100
100
Profit and loss account
6,966
3,897
Shareholders' funds
7,066
3,997
For the year ending 31 January 2017 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 directors acknowledge their 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 19 October 2017.
Mark Wilkinson
Director
Company Registration No. 08349463
Compact Rails & Systems Limited
Notes to the Accounts
for the year ended 31 January 2017
Compact Rails & Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 08349463. The registered office and principal place of business is UNIT 2 , RINGWAY HOUSE, UNITED DOWNS INDUSTRIAL PARK, REDRUTH, CORNWALL, TR16 5HY, ENGLAND.
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.
These financial statements for the year ended 31 January 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 February 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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
15% reducing balance basis
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.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Compact Rails & Systems Limited
Notes to the Accounts
for the year ended 31 January 2017
4
Tangible fixed assets
Plant & machinery
Finished goods
1,151
1,027
Trade debtors
13,698
1,995
7
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
7,718
2,753
8
Creditors: amounts falling due after more than one year
2017
2016
Other creditors
7,932
3,824
9
Deferred taxation
2017
2016
Accelerated capital allowances
2,146
2,104
Compact Rails & Systems Limited
Notes to the Accounts
for the year ended 31 January 2017
Provision at start of year
2,104
653
Charged to the profit and loss account
42
1,451
Provision at end of year
2,146
2,104
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Transactions with related parties
Dividends paid to directors in their capacity as shareholders during the year included £5,000 to MJ Wilkinson.
12
Average number of employees
During the year the average number of employees was 2 (2016: 2).
