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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017 |
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CAIN BIO-ENGINEERING LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017 |
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FOR |
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CAIN BIO-ENGINEERING LIMITED |
CAIN BIO-ENGINEERING LIMITED (REGISTERED NUMBER: 04682225) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 April 2017 |
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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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Chartered Accountants' Report | 7 |
CAIN BIO-ENGINEERING LIMITED |
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COMPANY INFORMATION |
for the year ended 30 April 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
10 St Ann Street |
Salisbury |
Wiltshire |
SP1 2DN |
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BANKERS: |
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19 Minster Street |
Salisbury |
Wiltshire |
SP1 1TE |
CAIN BIO-ENGINEERING LIMITED (REGISTERED NUMBER: 04682225) |
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BALANCE SHEET |
30 April 2017 |
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30.4.17 | 30.4.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 | ( |
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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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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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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
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CAIN BIO-ENGINEERING LIMITED (REGISTERED NUMBER: 04682225) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 April 2017 |
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1. | STATUTORY INFORMATION |
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Cain Bio-engineering Limited is a
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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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the value of river restoration and erosion control projects provided to the company's customers during the year |
net of value added tax and discounts. |
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Turnover is recognised upon completion of a project at which time the customer is invoiced and the significant risks and rewards of |
ownership of the work undertaken have transferred to the customer. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, and the basis of its amortisation, has been |
considered in detail by the company directors as part of the transition to Section 1A "Small Entities" of Financial Reporting Standard |
102. |
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At the date of transition, 1 May 2015, goodwill had a useful life of 7 years. The directors have considered the nature and the stability |
of the company in terms of its customers, services provided and the markets it operates in and they feel that 7 years reflects the |
useful economic life of the goodwill at that date. |
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Goodwill is therefore being amortised on a straight line bases over a 7 year period. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
The company holds stocks of materials and consumables. As these stocks are not subject to physical obsolescence they are |
valued at cost .Materials are purchased as required for impending projects. Consumable items are issued to projects on a first in first |
out basis. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, |
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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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. |
CAIN BIO-ENGINEERING LIMITED (REGISTERED NUMBER: 04682225) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2016 |
and 30 April 2017 |
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AMORTISATION |
At 1 May 2016 |
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Amortisation for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 May 2016 |
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Additions |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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CAIN BIO-ENGINEERING LIMITED (REGISTERED NUMBER: 04682225) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2017 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2016 |
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Additions |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 May 2016 |
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Additions |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Hire purchase contracts |
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CAIN BIO-ENGINEERING LIMITED (REGISTERED NUMBER: 04682225) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2017 |
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9. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Mr S Cain. |
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10. | FIRST YEAR ADOPTION |
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The company transitioned from UK GAAP to FRS102 Section 1A on 1 May 2015. |
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There have been no changes to accounting policies arising from the transition. |
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The transition to FRS102 Section 1A has had no effect on the company's equity at the date of transition, nor as at 30 April 2016. |
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The transition has had no effect on the company's profit for the year ended 30 April 2016. |
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
CAIN BIO-ENGINEERING LIMITED |
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The following reproduces the text of the report prepared for the directors 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 Income Statement and certain other primary statements and the Report of the Directors 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 Cain |
Bio-engineering Limited for the year ended 30 April 2017 which comprise the Statement of Income and Retained Earnings, 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 Board of Directors of Cain Bio-engineering Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cain Bio-engineering Limited and state those matters that we have agreed to state to the Board of Directors of Cain Bio-engineering Limited, as a body, 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 Cain Bio-engineering Limited Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Cain Bio-engineering 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 profit of Cain Bio-engineering Limited. You consider that Cain Bio-engineering 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 Cain Bio-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 financial statements. |
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Chartered Accountants |
10 St Ann Street |
Salisbury |
Wiltshire |
SP1 2DN |
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