SOLENT ENGINEERING SERVICES LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07192959 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

SOLENT ENGINEERING SERVICES LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Middleton

Mrs L Middleton

REGISTERED OFFICE:

38 Kings Way

Selsey

Chichester

West Sussex

PO20 0SY

REGISTERED NUMBER:

07192959 (England and Wales)

ACCOUNTANTS:

James Todd & Co Limited

1 & 2 The Barn

Oldwick

West Stoke Road

Chichester

West Sussex

PO18 9AA

FIXED ASSETS

Tangible assets

4

1,099

2,178

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

58,711

63,199

Cash at bank

23,252

33,105

86,963

101,304

CREDITORS

Amounts falling due within one year

68,107

85,077

NET CURRENT ASSETS

18,856

16,227

TOTAL ASSETS LESS CURRENT LIABILITIES

19,955

18,405

PROVISIONS FOR LIABILITIES

209

436

NET ASSETS

19,746

17,969

CAPITAL AND RESERVES

Called up share capital

5

10

10

Retained earnings

19,736

17,959

SHAREHOLDERS' FUNDS

19,746

17,969

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 August 2018 and were signed on its behalf by:

D J Middleton - Director

Mrs L Middleton - Director

1.	STATUTORY INFORMATION

SOLENT ENGINEERING SERVICES LTD 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, and are in sterling (£), which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future. The

directors therefore adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents the amounts derived from the provision of goods and services falling within the

company's ordinary activities, after deduction of trade discounts, value added tax and any other other taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Office equipment

-

Straight line over 3 years

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to

determine whether there is any indication of their values being impaired. Any impairment losses are then

treated as an expense during the period.

Stocks and work in progress

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 a proportion of fixed

and variable overheads where appropriate.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2017

12,811

Additions

208

At 30 April 2018

13,019

DEPRECIATION

At 1 May 2017

10,633

Charge for year

1,287

At 30 April 2018

11,920

NET BOOK VALUE

At 30 April 2018

1,099

At 30 April 2017

2,178

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.18

30.4.17

value:

£

£

2

Ordinary

£5

10

10

6.	RELATED PARTY DISCLOSURES

During the year the directors received aggregate dividends of £69,200 (2017: £60,896) in respect of their

shareholding.

The company Solent Engineering Fabrications Ltd is under common control, during the year Solent Engineering

Fabrications leased machinery to the company to the value of £2,400 (2017: £2,160). The company also made

payments on behalf of Solent Engineering Fabrications Limited to the value of £613 (2017: £Nil). There is a

balance outstanding at the end of the year owed to Solent Engineering Fabrications Ltd of £2,329 (2017:

£1,682) and this is included within other creditors.