Share capital £	Profit and loss account £	Total £
At 1 April 2016	2,000	267,393	269,393
Profit for the year	-	56,409	56,409
Total comprehensive income	-	56,409	56,409
Dividends	-	(40,000)	(40,000)
At 31 March 2017	2,000	283,802	285,802

The notes on pages 5 to 9 form an integral part of these financial statements.

Page 4

CMB Electrical Bristol Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1	General information

The company registration number is: 07259504

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

The address of its registered office is:
Ground Floor
1 Alexandra Gate
Ffordd Pengam
Tremorfa
Cardiff
CF24 2SA

These financial statements were authorised for issue by the Board on 15 June 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
Fixtures, fittings and equipment	20% straight line
Motor vehicles	25% straight line

Page 5

CMB Electrical Bristol Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Page 6

CMB Electrical Bristol Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2017 - 10).

4	Tangible assets

	Fixtures, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2017	1,229	10,750	11,979
At 31 March 2018	1,229	10,750	11,979
Depreciation
At 1 April 2017	1,229	10,750	11,979
At 31 March 2018	1,229	10,750	11,979
Carrying amount
At 31 March 2018	-	-	-
At 31 March 2017	-	-	-

Page 7

CMB Electrical Bristol Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

5

Debtors

	Note	2018 £	2017 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	11	876,249	462,369

6

Creditors

	Note	2018 £	2017 £
Due within one year
Bank loans and overdrafts	7	49,548	49,732
Trade creditors		563	-
Amounts owed to group undertakings and undertakings in which the company has a participating interest	11	240,745	-
Taxation and social security		157,416	115,572
Corporation tax		33,426	10,912
Other creditors		-	351
		481,698	176,567