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Registration number: 04143949

A Catlow Civil Engineering Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Landin Wilcock & Co
Chartered Accountants
Queen Street Chambers
68 Queen Street
Sheffield
South Yorkshire
S1 1WR

 

A Catlow Civil Engineering Limited

Contents

Accountants' Report

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
A Catlow Civil Engineering Limited
for the Year Ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A Catlow Civil Engineering Limited for the year ended 31 March 2017 as set out on pages 2 to 10 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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

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

It is your duty to ensure that A Catlow Civil Engineering Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A Catlow Civil Engineering Limited. You consider that A Catlow Civil Engineering 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 accounts of A Catlow Civil Engineering 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 accounts.

......................................

Landin Wilcock & Co
Chartered Accountants
Queen Street Chambers
68 Queen Street
Sheffield
South Yorkshire
S1 1WR

8 November 2017

 

A Catlow Civil Engineering Limited

(Registration number: 04143949)
Balance Sheet as at 31 March 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

4

360,735

353,825

Current assets

 

Debtors

5

363,926

311,755

Cash at bank and in hand

 

48,949

20,397

 

412,875

332,152

Creditors: Amounts falling due within one year

6

(456,499)

(396,762)

Net current liabilities

 

(43,624)

(64,610)

Total assets less current liabilities

 

317,111

289,215

Creditors: Amounts falling due after more than one year

6

(81,439)

(65,757)

Provisions for liabilities

(42,248)

(45,289)

Net assets

 

193,424

178,169

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

193,324

178,069

Total equity

 

193,424

178,169

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

A Catlow Civil Engineering Limited

(Registration number: 04143949)
Balance Sheet as at 31 March 2017

Approved and authorised by the director on 7 November 2017
 

.........................................

Mr Adrian Catlow

Director

 

A Catlow Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1

General information

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

The address of its registered office is:
68 Queen Street
Sheffield
South Yorkshire
S1 1WR

The principal place of business is:
Unit 1
Pastures Road
Mexborough
South Yorkshire
S64 0JJ

These financial statements were authorised for issue by the director on 7 November 2017.

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.

This is the first year in which the financial statements have been prepared under FRS 102 Section 1A. Refer to note 9 for an explanation of the transition.

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.

The presentation currency of these financial statements is the same as the functional currency of the entity, being pounds sterling.

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

Leasehold property

15% reducing balance

Plant and machinery

15% reducing balance

Furniture and fittings

15% reducing balance

 

A Catlow Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Motor vehicles

25% reducing balance

Other tangibles

nil as held at fair valuation

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

A Catlow Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

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.

Financial instruments

Classification
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 27 (2016 - 15).

 

A Catlow Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

4

Tangible assets

Leasehold property
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangibles
£

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2016

27,970

19,086

225,447

38,050

393,840

704,393

Additions

12,764

2,752

74,776

-

2,268

92,560

Disposals

(6,857)

-

(15,250)

-

-

(22,107)

At 31 March 2017

33,877

21,838

284,973

38,050

396,108

774,846

Depreciation

At 1 April 2016

16,108

7,522

118,808

-

208,130

350,568

Charge for the year

2,417

3,216

40,243

-

28,201

74,077

Eliminated on disposal

(3,862)

-

(6,672)

-

-

(10,534)

At 31 March 2017

14,663

10,738

152,379

-

236,331

414,111

Carrying amount

At 31 March 2017

19,214

11,100

132,594

38,050

159,777

360,735

At 31 March 2016

11,862

11,564

106,639

38,050

185,710

353,825

Included within the net book value of land and buildings above is £19,214 (2016 - £11,862) in respect of short leasehold land and buildings.
 

 

A Catlow Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Revaluation

The fair value of the company's other tangibles was revalued on 13 June 2017. An independent valuer was not involved.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £38,050 (2016 - £38,050).

5

Debtors

2017
£

2016
£

Trade debtors

224,623

210,864

Other debtors

139,303

100,891

Total current trade and other debtors

363,926

311,755

 

A Catlow Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

6

Creditors

Note

2017
£

2016
£

Due within one year

 

Bank loans and overdrafts

7

82,386

167,515

Trade creditors

 

206,201

115,294

Taxation and social security

 

121,180

59,347

Other creditors

 

46,732

54,606

 

456,499

396,762

Due after one year

 

Loans and borrowings

7

81,439

65,757

7

Loans and borrowings

2017
£

2016
£

Non-current loans and borrowings

Hire purchase liabilities

81,439

65,757

2017
£

2016
£

Current loans and borrowings

Bank overdrafts

49,272

37,176

Hire purchase liabilities

32,265

29,376

Other borrowings

849

100,963

82,386

167,515

Hire purchase liabilities are secured by the assets to which the lease arrangement relates. All other bank borrowings and overdraft facilities are secured by fixed and floating charges over the companies assets.

 

A Catlow Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

8

Related party transactions

Key management personnel

Key management comprises the director, Mr Adrian Catlow.

Summary of transactions with key management

Transactions include the payment of dividends and private expenditure charged to the company.
 Interest is charged at the official rate of interest being 3% (2016 - 3%). The balance is repayable on demand to the company.
 

Transactions with directors

2017

At 1 April 2016
£

Advances to directors
£

Repayments by director
£

At 31 March 2017
£

Mr Adrian Catlow

Loan account

78,548

148,208

(92,179)

134,577

         
       

 

2016

At 1 April 2015
£

Advances to directors
£

Repayments by director
£

At 31 March 2016
£

Mr Adrian Catlow

Loan account

57,509

86,792

(65,753)

78,548

         
       

 

Directors guarantees

During the year the company entered into the following guarantee on behalf of the director:

The company has guaranteed through fixed and floating charges a mortgage over a residential property on behalf of Mr Adrian Catlow. The maximum liability that may be incurred by the company is £93,525 (2016 - £107,631).

9

Transition to FRS 102

The company has adopted FRS 102 Section 1A for the year ended 31 March 2017.

The last financial statements under the Financial Reporting Standards for Smaller Entities (FRSSE 2015) were for the year ended 31 March 2016 and the date of transition to FRS 102 Section 1A was therefore 1 April 2015.

There have been no adjustments made as a result of this transition.