Concrete Solutions Accrington Limited - Period Ending 2017-07-31

Registration number: 06970205

Concrete Solutions Accrington Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2017

Concrete Solutions Accrington Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 7

Concrete Solutions Accrington Limited

(Registration number: 06970205)
Balance Sheet as at 31 July 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	121,002	-
Current assets
Debtors	5	30,127	-
Cash at bank and in hand		7,680	1
		37,807	1
Creditors: Amounts falling due within one year	6	(200,993)	-
Net current (liabilities)/assets		(163,186)	1
Net (liabilities)/assets		(42,184)	1
Capital and reserves
Called up share capital		1	1
Profit and loss account		(42,185)	-
Total equity		(42,184)	1

For the financial year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 22 February 2018
 

.........................................

Mr Imran Mirza

Director

The notes on pages 2 to 7 form an integral part of these financial statements.

Page 1

Concrete Solutions Accrington Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
C/o Hughes & Co
The Innovation Centre
Brunswick Street
Nelson
Lancashire
BB9 0PQ

These financial statements were authorised for issue by the director on 22 February 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	25% Straight line
Furniture, fittings, tools and equipment	10% Straight line
Motor vehicles	20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 2

Concrete Solutions Accrington Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2016 - 1).

Page 3

Concrete Solutions Accrington Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
Additions	37,625	106,300	2,800	146,725
At 31 July 2017	37,625	106,300	2,800	146,725
Depreciation
Charge for the year	3,763	21,260	700	25,723
At 31 July 2017	3,763	21,260	700	25,723
Carrying amount
At 31 July 2017	33,862	85,040	2,100	121,002

5

Debtors

	2017 £	2016 £
Other debtors	30,127	-
Total current trade and other debtors	30,127	-

6

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		100,180	-
Taxation and social security		63	-
Other creditors		100,750	-
		200,993	-

7	Related party transactions

Summary of transactions with other related parties

Mrs Tahira Mirza
 During the period Mrs Mirza advanced £100,000 to the company as an interest free loan
 The loan is interest free and repayable on demand
 

Loans from related parties

Page 4

Concrete Solutions Accrington Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

2017	Other related parties £
Advanced	100,000

2016

8	Transition to FRS 102

Balance Sheet at 1 August 2015
 

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Current assets
Cash at bank and in hand		1	-	-	1
Capital and reserves
Called up share capital		(1)	-	-	(1)
Total equity		(1)	-	-	(1)

Page 5

Concrete Solutions Accrington Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

Balance Sheet at 31 July 2016
 

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Current assets
Cash at bank and in hand		1	-	-	1
Capital and reserves
Called up share capital		(1)	-	-	(1)
Total equity		(1)	-	-	(1)

Page 6

Concrete Solutions Accrington Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

Profit and Loss Account for the year ended 31 July 2016
 

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Turnover		-	-	-	-
Operating profit/(loss)		-	-	-	-
Profit/(loss) before tax		-	-	-	-
Profit/(loss) for the financial year		-	-	-	-

Page 7