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Registration number: 02953125

Contour Plant Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2021

 

Contour Plant Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Contour Plant Limited

Company Information

Director

Mrs I Reeve

Company secretary

Mr P Reeve

Registered office

1 Jubilee Cottages
Norton Road
Daventry
Northants
NN11 2LS

Accountants

Haworth Associates
Chartered Certified Accountants
10 Millennium Business Park
Enterprise Close
Mansfield
Nottinghamshire
NG19 7JY

 

Contour Plant Limited

(Registration number: 02953125)
Abridged Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

806,272

775,082

Investments

5

90

90

 

806,362

775,172

Current assets

 

Debtors

653

-

Cash at bank and in hand

 

66

52

 

719

52

Creditors: Amounts falling due within one year

(220,398)

(193,574)

Net current liabilities

 

(219,679)

(193,522)

Total assets less current liabilities

 

586,683

581,650

Creditors: Amounts falling due after more than one year

(152,303)

(173,090)

Provisions for liabilities

(102,710)

(106,809)

Accruals and deferred income

 

(950)

(2,322)

Net assets

 

330,720

299,429

Capital and reserves

 

Called up share capital

6

100

100

Profit and loss account

330,620

299,329

Shareholders' funds

 

330,720

299,429

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Contour Plant Limited

(Registration number: 02953125)
Abridged Balance Sheet as at 31 December 2021

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 9 September 2022
 

.........................................

Mrs I Reeve
Director

 

Contour Plant Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Jubilee Cottages
Norton Road
Daventry
Northants
NN11 2LS

These financial statements were authorised for issue by the director on 9 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Contour Plant Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% and 25% reducing balance

Fixtures and fittings

20% reducing balance

Motor vehicles

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Contour Plant Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

 

Contour Plant Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2021

1,253,028

63,402

1,316,430

Additions

255,070

-

255,070

Disposals

(197,779)

-

(197,779)

At 31 December 2021

1,310,319

63,402

1,373,721

Depreciation

At 1 January 2021

525,498

15,850

541,348

Charge for the year

141,362

11,888

153,250

Eliminated on disposal

(127,149)

-

(127,149)

At 31 December 2021

539,711

27,738

567,449

Carrying amount

At 31 December 2021

770,608

35,664

806,272

At 31 December 2020

727,530

47,552

775,082

5

Investments

Total
£

Cost or valuation

At 1 January 2021

90

Provision

Carrying amount

At 31 December 2021

90

At 31 December 2020

90

2021
£

2020
£

6

Share capital

Allotted, called up and fully paid shares

 

Contour Plant Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

7

Dividends

8

Related party transactions

Loans to related parties

2021

Key management
£

Total
£

Advanced

653

653

At end of period

653

653

Loans from related parties

2021

Key management
£

Total
£

At start of period

264

264

Repaid

(264)

(264)

At end of period

-

-

2020

Key management
£

Total
£

At start of period

39,911

39,911

Repaid

(39,647)

(39,647)

At end of period

264

264