Steel Erecting Services Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04993918 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2018

for

STEEL ERECTING SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

R W Dowler

Secretary:

Mrs M C Dowler

Registered office:

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

Registered number:

04993918 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

25,595

20,745

25,595

20,745

Current assets

Stocks

31,550

21,599

Debtors

6

39,321

67,235

Cash at bank

8

27,581

70,879

116,415

Creditors

Amounts falling due within one year

7

75,664

103,931

Net current (liabilities)/assets

(4,785

)

12,484

Total assets less current liabilities

20,810

33,229

Capital and reserves

Called up share capital

8

2

2

Retained earnings

9

20,808

33,227

Shareholders' funds

20,810

33,229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 15 June 2018 and were signed by:

R W Dowler - Director

1.	Statutory information

Steel Erecting Services 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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried

out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate

as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried

out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as

possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed

off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is

carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as

accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately

prove to be uncollectable.

Turnover

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

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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 15 (2017 - 12 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 March 2017

and 28 February 2018

74,000

Amortisation

At 1 March 2017

and 28 February 2018

74,000

Net book value

At 28 February 2018

-

At 28 February 2017

-

5.	Tangible fixed assets

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Cost

At 1 March 2017

49,204

8,209

57,413

Additions

20,795

-

20,795

Disposals

(17,572

)

-

(17,572

)

At 28 February 2018

52,427

8,209

60,636

Depreciation

At 1 March 2017

30,369

6,299

36,668

Charge for year

8,055

477

8,532

Eliminated on disposal

(10,159

)

-

(10,159

)

At 28 February 2018

28,265

6,776

35,041

Net book value

At 28 February 2018

24,162

1,433

25,595

At 28 February 2017

18,835

1,910

20,745

6.

Debtors: amounts falling due within one year

28.2.18

28.2.17

£

£

Trade debtors

39,321

66,978

Other debtors

-

257

39,321

67,235

7.

Creditors: amounts falling due within one year

28.2.18

28.2.17

£

£

Bank loans and overdrafts

1,571

-

Trade creditors

42,312

51,244

Taxation and social security

27,920

47,434

Other creditors

3,861

5,253

75,664

103,931

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.18

28.2.17

value:

£

£

2

Ordinary

£1

2

2

9.

Reserves

Retained

earnings

£

At 1 March 2017

33,227

Profit for the year

16,081

Dividends

(28,500

)

At 28 February 2018

20,808