CONSTRUCTION TRAINING (B&H) LIMITED - Filleted accounts

CONSTRUCTION TRAINING (B&H) LIMITED - Filleted accounts

CONSTRUCTION TRAINING (B&H) LIMITED - Company Information

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Registered number: 02592205
CONSTRUCTION TRAINING (B&H) LIMITED
REPORT AND ACCOUNTS
FOR THE YEAR ENDED
31 DECEMBER 2017
CONSTRUCTION TRAINING (B&H) LIMITED
REGISTERED NUMBER: 02592205
BALANCE SHEET
as at 31 December 2017
Notes 2017 2016
£ £
FIXED ASSETS
Tangible assets 3 88 455
CURRENT ASSETS
Debtors 4 17,220 13,769
Cash at bank and in hand 124,604 124,938
141,824 138,707
CREDITORS: amounts falling due within one year 5 (10,284) (8,787)
NET CURRENT ASSETS 131,540 129,920
NET ASSETS 131,628 130,375
CAPITAL AND RESERVES
Capital reserves 6 27,323 27,323
Profit and loss account 104,305 103,052
SHAREHOLDER'S FUNDS 131,628 130,375
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M D Hickson - Chairman
Director
Approved by the board on 6 July 2018
CONSTRUCTION TRAINING (B&H) LIMITED
NOTES TO THE ACCOUNTS
for the year ended 31 December 2017
1 ACCOUNTING POLICIES
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with FRS 102 Section 1A small entities.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 EMPLOYEES 2017 2016
Number Number
Average number of persons employed by the company 1 1
3 TANGIBLE FIXED ASSETS
Plant and machinery etc
£
Cost
At 1 January 2017 2,538
At 31 December 2017 2,538
Depreciation
At 1 January 2017 2,083
Charge for the year 367
At 31 December 2017 2,450
Net book value
At 31 December 2017 88
At 31 December 2016 455
4 DEBTORS 2017 2016
£ £
Trade debtors 15,625 13,769
Other debtors 1,595 -
17,220 13,769
5 CREDITORS: amounts falling due within one year 2017 2016
£ £
Trade creditors 3,021 3,873
Corporation tax 236 300
Other taxes and social security costs 1,688 1,865
Other creditors 5,339 2,749
10,284 8,787
6 CAPITAL RESERVES 2017 2016
£ £
At 1 January 2017 27,323 27,323
At 31 December 2017 27,323 27,323
7 OTHER INFORMATION
Construction Training (B&H) Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
Neville House
Marsh Road
Luton
LU3 2RZ
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