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REGISTERED NUMBER:
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The Somerset Gas Co. Limited |
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Audited Financial Statements for the Year Ended 30 April 2018 |
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REGISTERED NUMBER:
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The Somerset Gas Co. Limited |
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Audited Financial Statements for the Year Ended 30 April 2018 |
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The Somerset Gas Co. Limited (Registered number: 03041587) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2018 |
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Page |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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The Somerset Gas Co. Limited |
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Company Information |
for the Year Ended 30 April 2018 |
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DIRECTOR: |
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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 |
4 King Square |
Bridgwater |
Somerset |
TA6 3YF |
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BANKERS: |
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23 Fore Street |
Williton |
Somerset |
TA4 4PX |
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SOLICITORS: |
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West Quay House |
Northgate |
Bridgwater |
Somerset |
TA6 3EU |
The Somerset Gas Co. Limited (Registered number: 03041587) |
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Abridged Statement of Financial Position |
30 April 2018 |
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30.4.18 | 30.4.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Other reserves |
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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 Income Statement has not been delivered. |
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The financial statements were approved by the director on
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The Somerset Gas Co. Limited (Registered number: 03041587) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2018 |
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1. | STATUTORY INFORMATION |
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The Somerset Gas Co. Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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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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The financial statements have been prepared in accordance with applicable accounting standards and estimation |
techniques. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
The Somerset Gas Co. Limited (Registered number: 03041587) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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3. | ACCOUNTING POLICIES - continued |
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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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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 May 2017 |
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Additions |
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At 30 April 2018 |
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DEPRECIATION |
At 1 May 2017 |
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Charge for year |
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At 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Totals |
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COST |
At 1 May 2017 | 33,031 |
Additions | 16,431 |
At 30 April 2018 | 49,462 |
DEPRECIATION |
At 1 May 2017 | 15,478 |
Charge for year | 7,300 |
At 30 April 2018 | 22,778 |
NET BOOK VALUE |
At 30 April 2018 | 26,684 |
At 30 April 2017 | 17,553 |
The Somerset Gas Co. Limited (Registered number: 03041587) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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5. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
30.4.18 | 30.4.17 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
30.4.18 | 30.4.17 |
£ | £ |
Within one year |
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Between one and five years |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.4.18 | 30.4.17 |
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Bank overdraft |
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Bank loans |
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Hire purchase contracts | 24,495 | 16,084 |
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Amounts due under hire purchase contracts are secured over the specific financed assets. |
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Bank loans and overdrafts are secured by a charge over the assets of the company. |
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7. | 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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The Somerset Gas Co. Limited (Registered number: 03041587) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 April 2018 and |
30 April 2017: |
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30.4.18 | 30.4.17 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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9. | ULTIMATE CONTROLLING PARTY |
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The company was controlled by its director, M A Lewis. |