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Canton Construction Limited |
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Financial Statements for the Year Ended 30 June 2016 |
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Canton Construction Limited |
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Financial Statements for the Year Ended 30 June 2016 |
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Canton Construction Limited |
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Company Information |
for the Year Ended 30 June 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Radnor House |
Greenwood Close |
Cardiff Gate Business Park |
Cardiff |
CF23 8AA |
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BANKERS: |
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18 Park Place |
Cardiff |
CF10 3DQ |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Canton Construction Limited |
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The following reproduces the text of the report prepared for the director and members in |
respect of the company's annual unaudited financial statements. In accordance with the |
Companies Act 2006, the company is only required to file a Balance Sheet. Readers are |
cautioned that the Profit and Loss Account and certain other primary statements and the |
Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for |
your approval the financial statements of Canton Construction Limited for the year ended |
30 June 2016 which comprise the Profit and Loss Account, Balance Sheet and the related notes |
from the company's accounting records and from information and explanations you have given us. |
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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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of Canton Construction Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Canton Construction Limited and state those matters that we have agreed to state to the director of Canton Construction Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Canton Construction Limited director for our work or for this report. |
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It is your duty to ensure that Canton Construction Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Canton Construction Limited. You consider that Canton Construction Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Canton Construction 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 financial statements. |
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Chartered Accountants |
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Canton Construction Limited (Registered number: 03970225) |
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Balance Sheet |
30 June 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Stocks & Work-In-Progress |
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Debtors | 4 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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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 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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Canton Construction Limited (Registered number: 03970225) |
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Balance Sheet - continued |
30 June 2016 |
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The director acknowledges his responsibilities for: |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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Canton Construction Limited (Registered number: 03970225) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover includes income from contracts on the basis of the sales value of work performed |
during the year by reference to the total sales and stage of completion, net of value added |
tax and trade discounts. |
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Depreciation |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks & Work-In-Progress are valued at the lower of cost and net realisable value. |
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Deferred taxation |
Full provision is made for deferred taxation resulting from timing differences between the |
recognition of gains and losses in the accounts and their recognition for tax purposes. |
Deferred taxation is calculated on an un-discounted basis at the tax rates which are |
expected to apply in the periods when the timing differences will reverse. |
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Long term contracts |
Amounts recoverable on long term contracts, which are included in debtors, are stated at the |
anticipated net sales value of the work done after provisions for contingencies and |
anticipated future losses on contracts. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Canton Construction Limited (Registered number: 03970225) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2016 |
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3. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2015 |
and 30 June 2016 |
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DEPRECIATION |
At 1 July 2015 |
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Charge for year |
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At 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors & prepayments |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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Taxes & social security costs |
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Other creditors & accruals |
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6. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented its results under FRS 102. The last |
financial statements under previous UK GAAP were for the year ended 30 June 2015 and |
the date of transition to FRS 102 was 1 July 2014. |
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The changes in accounting policies, between UK GAAP and FRS 102, have had no effect on |
the total equity between 1 July 2014 and 30 June 2016. |
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