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REGISTERED NUMBER:
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F.B.S. Contracts Limited |
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Audited Financial Statements |
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for the Year Ended 31 December 2017 |
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REGISTERED NUMBER:
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F.B.S. Contracts Limited |
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Audited Financial Statements |
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for the Year Ended 31 December 2017 |
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F.B.S. Contracts Limited (Registered number: 02113964) |
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Contents of the Financial Statements |
for the year ended 31 December 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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F.B.S. Contracts Limited |
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Company Information |
for the year ended 31 December 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and |
Statutory Auditor |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
F.B.S. Contracts Limited (Registered number: 02113964) |
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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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F.B.S. Contracts Limited (Registered number: 02113964) |
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Notes to the Financial Statements |
for the year ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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F.B.S. Contracts Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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Monetary amounts in these financial statements have been rounded to the nearest £1. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
The turnover shown in the profit and loss account represents the value of all services delivered during |
the year, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the |
company has fulfilled its contractual obligations to the customer. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated |
to write off the cost less estimated residual value of each asset over its expected useful life as follows: |
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Motor Vehicles 33% Straight line |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost of finished |
goods and work in progress includes overheads appropriate to the stage of manufacture. Net |
realisable value is based upon estimated selling price less further costs expected to be incurred to |
completion and disposal. Provision is made for obsolete and slow-moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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F.B.S. Contracts Limited (Registered number: 02113964) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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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. |
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Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual |
arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any |
contract that evidences a residual interest in the assets of the company after deducting all of its |
liabilities. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Motor |
vehicles |
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COST |
At 1 January 2017 |
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Additions |
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Disposals | ( |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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F.B.S. Contracts Limited (Registered number: 02113964) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Invoice discounting | - | 81,089 |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Between one and five years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Invoice discounting creditor | - | 81,089 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 38 | 38 |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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F.B.S. Contracts Limited (Registered number: 02113964) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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12. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 |
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related |
party transactions with wholly owned subsidiaries within the group. |
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13. | ULTIMATE CONTROLLING PARTY |
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The ultimate parent company from 1 January 2015 until 28 July 2016 was F.B.S Holdings (UK) |
Limited. |
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On 29 July 2016, GTA Laboratories Limited, a company incorporated in the United Kingdom, acquired |
the entire share capital of F.B.S Holdings (UK) Limited, thus becoming the company's ultimate parent |
company from that date. |
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The company is ultimately controlled by the directors of the ultimate parent company. |