REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
FOR |
CERAMIC DRYING SYSTEMS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
FOR |
CERAMIC DRYING SYSTEMS LIMITED |
CERAMIC DRYING SYSTEMS LIMITED (REGISTERED NUMBER: 01732809) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CERAMIC DRYING SYSTEMS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
570-572 Etruria |
Road, Basford |
Newcastle |
Staffordshire |
ST5 0SU |
CERAMIC DRYING SYSTEMS LIMITED (REGISTERED NUMBER: 01732809) |
BALANCE SHEET |
30 APRIL 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
CERAMIC DRYING SYSTEMS LIMITED (REGISTERED NUMBER: 01732809) |
BALANCE SHEET - continued |
30 APRIL 2017 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
CERAMIC DRYING SYSTEMS LIMITED (REGISTERED NUMBER: 01732809) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
1. | STATUTORY INFORMATION |
Ceramic Drying Systems Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Office equipment and computers | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
CERAMIC DRYING SYSTEMS LIMITED (REGISTERED NUMBER: 01732809) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 May 2016 |
Additions |
At 30 April 2017 |
DEPRECIATION |
At 1 May 2016 |
Charge for year |
At 30 April 2017 |
NET BOOK VALUE |
At 30 April 2017 |
At 30 April 2016 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 May 2016 | 30,045 |
Additions | 10 |
Disposals | ( |
) | (5,022 | ) |
Reclassification/transfer | ( |
) | - |
At 30 April 2017 | 25,033 |
NET BOOK VALUE |
At 30 April 2017 | 25,033 |
At 30 April 2016 | 30,045 |
CERAMIC DRYING SYSTEMS LIMITED (REGISTERED NUMBER: 01732809) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by associates |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Amounts owed to associates | 45,098 | - |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2017 | 2016 |
£ | £ |
Bank overdrafts |
Hire purchase contracts | 6,149 | 9,149 |
Bank overdrafts are secured by way of a fixed charge over the company's assets. |
Hire purchase contracts are secured against the asset to which they relate. |
10. | GUARANTEES AND OTHER FINANCIAL COMMITMENTS |
The company had total guarantees and commitments at the balance sheet date of £234,294 (2016: £281,178 ). |
CERAMIC DRYING SYSTEMS LIMITED (REGISTERED NUMBER: 01732809) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 April 2017 and |
30 April 2016: |
2017 | 2016 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
12. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £41,536 were paid to the directors . |
CERAMIC DRYING SYSTEMS LIMITED (REGISTERED NUMBER: 01732809) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
12. | RELATED PARTY DISCLOSURES - continued |
During the year the company entered into transactions with the following companies which are under the control |
of T P Dunne, director and ultimate controlling party of this company. |
Sales (including recharges & loan write offs) |
Purchases (including recharges, rents & loan write offs) |
Amounts owed to Ceramic Drying Systems Limited |
Amounts owed by Ceramic Drying Systems Limited |
Year ended 30 April 2016 | £ | £ | £ | £ |
Dunne-Vickers Limited | - | - | - | - |
CDS Pension Scheme | - | 129.087 | - | - |
Kilns & Furnaces Limited | 15.727 | 103,816 | 70,933 | - |
SMPA Investments Limited | - | - | 1,214 | - |
Fox Hollow Investments Limited | - | - | 760,000 | - |
CDS Intex Limited | 2,858,300 | - | 17,598 | - |
Heritage Equine Solutions Limited | 7,377 | - | 31,475 | - |
Year ended 30 April 2017 | £ | £ | £ | £ |
Dunne-Vickers Limited | - | - | - | - |
CDS Pension Scheme | - | 97,000 | - | - |
Kilns & Furnaces Limited | 42,208 | 17,954 | 101,998 | - |
SMPA Investments Limited | - | - | 1,214 | - |
Fox Hollow Investments Limited | - | - | 222,941 |
CDS Intex Limited | 1,998,180 | 1,560 | - | 45,098 |
Heritage Equine Solutions Limited | 13,551 | 72,000 | 30,178 | - |
13. | ULTIMATE CONTROLLING PARTY |
The controlling party is T P Dunne. |
14. | PARENT COMPANY |
Ceramic Drying Systems Limited is a subsidiary of Fox Hollow Investments Limited, a company registered in |
England and Wales. |