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REGISTERED NUMBER: 07802714 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2017

for

CONTREC LTD

CONTREC LTD (REGISTERED NUMBER: 07802714)






Contents of the Financial Statements
for the Year Ended 31 March 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CONTREC LTD

Company Information
for the Year Ended 31 March 2017







DIRECTORS: P Casson
T Casson
L C Henry
C S Naylor





REGISTERED OFFICE: Riverside
Canal Rd
Sowerby Bridge
Halifax
West Yorkshire
HX6 2AY





REGISTERED NUMBER: 07802714 (England and Wales)





ACCOUNTANTS: Riley & Co Limited
Chartered Accountants
52 St Johns Lane
Halifax
West Yorkshire
HX1 2BW

CONTREC LTD (REGISTERED NUMBER: 07802714)

Balance Sheet
31 March 2017

31.3.17 31.3.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,077 9,754
Tangible assets 5 15,714 21,357
Investments 6 - -
38,791 31,111

CURRENT ASSETS
Stocks 342,147 420,054
Debtors 7 610,540 530,688
Cash at bank and in hand 721,960 110,476
1,674,647 1,061,218
CREDITORS
Amounts falling due within one year 8 415,466 269,493
NET CURRENT ASSETS 1,259,181 791,725
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,297,972

822,836

PROVISIONS FOR LIABILITIES 2,560 1,847
NET ASSETS 1,295,412 820,989

CAPITAL AND RESERVES
Called up share capital 9 280,100 100
Retained earnings 1,015,312 820,889
SHAREHOLDERS' FUNDS 1,295,412 820,989

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 11 September 2017 and were signed on its behalf
by:





P Casson - Director


CONTREC LTD (REGISTERED NUMBER: 07802714)

Notes to the Financial Statements
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

Contrec Ltd is a private company, limited by shares , registered in England and Wales. The 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
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Patents & licences
The intangible asset relates to a licencing fee paid in 2013 that is being amortised over the agreement period of
3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.33% on cost, 25% on reducing balance, 20% on cost and 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.

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.

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.

CONTREC LTD (REGISTERED NUMBER: 07802714)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2016 45,907
Additions 27,114
At 31 March 2017 73,021
AMORTISATION
At 1 April 2016 36,153
Charge for year 13,791
At 31 March 2017 49,944
NET BOOK VALUE
At 31 March 2017 23,077
At 31 March 2016 9,754

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2016 50,481
Additions 8,719
Disposals (21,989 )
At 31 March 2017 37,211
DEPRECIATION
At 1 April 2016 29,124
Charge for year 5,085
Eliminated on disposal (12,712 )
At 31 March 2017 21,497
NET BOOK VALUE
At 31 March 2017 15,714
At 31 March 2016 21,357

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 280,000
Impairments (280,000 )
At 31 March 2017 -
NET BOOK VALUE
At 31 March 2017 -

CONTREC LTD (REGISTERED NUMBER: 07802714)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Trade debtors 390,894 346,358
Other debtors 219,646 184,330
610,540 530,688

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Trade creditors 165,448 125,783
Taxation and social security 36,239 25,650
Other creditors 213,779 118,060
415,466 269,493

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.17 31.3.16
value: £    £   
196,070 Ordinary "A" £1 196,070 70
42,015 Ordinary "B" £1 42,015 10
42,015 Ordinary "C" £1 42,015 20
280,100 100

On 31 October 2016 the company issued 280,000 ordinary £1 shares in a share for share exchange to the
shareholders of Contrec Europe Ltd.
In return the net assets and liabilities of Contrec Europe Ltd were transferred to Contrec Ltd as a dividend in
specie with a value of £321,542.
Contrec Europe Ltd ceased to trade on 31 October 2016 and is in the process of being dissolved.

10. RELATED PARTY DISCLOSURES

During the year to 31.03.17 Contrec Ltd traded with the following companies:-


Name of company

Sales

Purchases
Included in
debtors
Included in
creditors
Flowquip Limited £57,743 £24,367 £34,943 £5,440
Flowhire Limited £5,860 £2,446 £2,752 £598
Contrec USA £211,495 £253 £246,255 £253

Flowquip Ltd is controlled by P Casson.

Flowhire Limited is controlled by P Casson.

Contrec (Holdings) Limited is controlled by P Casson.

Contrec USA is controlled by Contrec (Holdings ) Limited.

During the year the following dividends were paid T Casson £27,064 (2016 £25,752) & C Naylor £15,984.

Contrec Ltd owes Flowquip Limited £50,000 at 31.03.2017.

Contrec (Holdings) Limited owes Contrec Ltd £184,300 (2016 £183,300) at 31.03.2017.

Contrec Ltd owed Flowhire Limited £100,000 at 31.03.2017.

11. ULTIMATE CONTROLLING PARTY

The controlling party is P Casson.

CONTREC LTD (REGISTERED NUMBER: 07802714)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

12. FIRST YEAR ADOPTION

The first year adoption of FRS 102 has not resulted in any material transactional adjustments and accordingly no
reconciliation of equity or profit is required in these financial statements.