REGISTERED NUMBER: 03769338 (England and Wales)

CWARE PANTGWYN QUARRY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J L Rees

Mr T D Rees

REGISTERED OFFICE:

Penanty

Brynberian

Crymych

Pembrokeshire

SA41 3TT

REGISTERED NUMBER:

03769338 (England and Wales)

ACCOUNTANTS:

Llewelyn Davies

Chartered Accountants

Yelverton House

St John Street

Whitland

Carmarthenshire

SA34 0AW

FIXED ASSETS

Tangible assets

4

789,253

794,802

CURRENT ASSETS

Stocks

80,000

86,862

Debtors

5

199,247

173,126

Cash at bank and in hand

265

1,495

279,512

261,483

CREDITORS

Amounts falling due within one year

6

487,509

433,415

NET CURRENT LIABILITIES

(207,997

)

(171,932

)

TOTAL ASSETS LESS CURRENT LIABILITIES

581,256

622,870

CREDITORS

Amounts falling due after more than one year

7

(130,094

)

(113,544

)

PROVISIONS FOR LIABILITIES

(56,736

)

(58,305

)

NET ASSETS

394,426

451,021

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

394,424

451,019

SHAREHOLDERS' FUNDS

394,426

451,021

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 29 December 2017 and were signed on its behalf by:

Mr J L Rees - Director

Mr T D Rees - Director

1.	STATUTORY INFORMATION

Cware Pantgwyn Quarry 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.

Given the current trading performance of the company and the projected revenue earnings, the directors

are confident that the accounts can be prepared on a going concern basis.

Turnover

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

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 15% 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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under

finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

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 13 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2016

474,536

1,759,916

2,234,452

Additions

7,469

76,188

83,657

Disposals

-

(110,000

)

(110,000

)

At 31 March 2017

482,005

1,726,104

2,208,109

DEPRECIATION

At 1 April 2016

-

1,439,650

1,439,650

Charge for year

-

62,412

62,412

Eliminated on disposal

-

(83,206

)

(83,206

)

At 31 March 2017

-

1,418,856

1,418,856

NET BOOK VALUE

At 31 March 2017

482,005

307,248

789,253

At 31 March 2016

474,536

320,266

794,802

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2016

276,784

Additions

61,000

At 31 March 2017

337,784

DEPRECIATION

At 1 April 2016

82,460

Charge for year

30,266

At 31 March 2017

112,726

NET BOOK VALUE

At 31 March 2017

225,058

At 31 March 2016

194,324

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

192,549

162,906

Other debtors

6,698

10,220

199,247

173,126

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

109,302

107,827

Hire purchase contracts

60,616

62,131

Trade creditors

108,366

136,062

Taxation and social security

30,023

48,350

Other creditors

179,202

79,045

487,509

433,415

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

-

8,407

Hire purchase contracts

93,988

105,137

Other creditors

36,106

-

130,094

113,544

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

100,916

95,778

Bank loans

8,386

20,456

Hire purchase contracts

154,604

167,268

HSBC Factoring Account

77,010

66,998

340,916

350,500

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors by virtue of their shareholdings.