CMB Electrical Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05064714

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

CMB ELECTRICAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

A Smith

K Martin

S Borley

SECRETARY:

A Smith

REGISTERED OFFICE:

Unit 1, Melyn Mair Business Centre

Wentloog Avenue

Rumney

Cardiff

CF3 2EX

REGISTERED NUMBER:

05064714

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

FIXED ASSETS

Intangible assets

4

10,800

12,600

Tangible assets

5

128,976

129,914

Investments

6

-

30,000

139,776

172,514

CURRENT ASSETS

Stocks

20,168

30,101

Debtors

7

420,361

1,057,266

Cash at bank and in hand

238,427

228,745

678,956

1,316,112

CREDITORS

Amounts falling due within one year

8

(614,692

)

(1,228,957

)

NET CURRENT ASSETS

64,264

87,155

TOTAL ASSETS LESS CURRENT LIABILITIES

204,040

259,669

PROVISIONS FOR LIABILITIES

(855

)

(855

)

NET ASSETS

203,185

258,814

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

203,085

258,714

SHAREHOLDERS' FUNDS

203,185

258,814

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 21 August 2018 and were signed on its behalf by:

A Smith - Director

1.	STATUTORY INFORMATION

CMB Electrical Limited is a private company, limited by shares , registered in Not

specified/Other. 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.

Turnover

Turnover represents amounts invoiced to outside customers, except in respect of contracting

activities where turnover represents the value of work carried out during the year including

amounts not invoiced. Turnover excludes value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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 cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

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

for obsolete and slow moving items.

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.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Profit recognition on contracting activities

Profit on individual contracts is taken only when their outcome can be foreseen with

reasonable certainty, based on the lower of the percentage margin earned to date and that

expected losses on individual contracts, taking a prudent view of the future claims income,

immediately such losses are foreseen.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2016 - 68 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

18,000

AMORTISATION

At 1 January 2017

5,400

Charge for year

1,800

At 31 December 2017

7,200

NET BOOK VALUE

At 31 December 2017

10,800

At 31 December 2016

12,600

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2017

139,236

11,149

77,212

14,130

241,727

Additions

18,666

-

-

385

19,051

At 31 December 2017

157,902

11,149

77,212

14,515

260,778

DEPRECIATION

At 1 January 2017

46,799

9,967

43,824

11,223

111,813

Charge for year

10,154

296

8,341

1,198

19,989

At 31 December 2017

56,953

10,263

52,165

12,421

131,802

NET BOOK VALUE

At 31 December 2017

100,949

886

25,047

2,094

128,976

At 31 December 2016

92,437

1,182

33,388

2,907

129,914

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2017

30,000

Disposals

(30,000

)

At 31 December 2017

-

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

30,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

420,361

1,052,260

Loan inter co.

-

5,006

420,361

1,057,266

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

14,152

22,075

Trade creditors

268,611

794,919

Tax

53,866

43,491

Social security and other taxes

22,557

37,526

VAT

86,674

146,097

Other creditors

11,800

37,899

Accruals and deferred income

157,032

146,950

614,692

1,228,957

9.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the Director Mr A Smith by virtue of his

shareholding.

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Income Statement and certain other primary statements and the Report of the Directors are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of CMB Electrical Limited for the year ended

31 December 2017 which comprise the Income Statement, Balance Sheet and the related notes

from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of CMB Electrical Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CMB Electrical Limited and state those matters that we have agreed to state to the Board of Directors of CMB Electrical Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CMB Electrical Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that CMB Electrical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of CMB Electrical Limited. You consider that CMB Electrical Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of CMB Electrical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

21 August 2018