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REGISTERED NUMBER: 01254878 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

COMYN CHING & CO. (SOLRAY) LIMITED

COMYN CHING & CO. (SOLRAY) LIMITED (REGISTERED NUMBER: 01254878)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


COMYN CHING & CO. (SOLRAY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2018







DIRECTORS: Mr A Ching
Mr W S George
Mr J C Forty
Mr K T C Gutteridge
Mrs E A C Gutteridge
Mr J A McNab



REGISTERED OFFICE: Solray Works, Phoenix Way
Garngoch Industrial Estate
Gorseinon
Swansea
SA4 9WF



REGISTERED NUMBER: 01254878 (England and Wales)



ACCOUNTANTS: WBV Limited
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
SA1 8QY



BANKERS: Lloyds Bank plc
113 High Street
Gorseinon
Swansea
SA4 4BR

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
COMYN CHING & CO. (SOLRAY) LIMITED

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your
approval the financial statements of Comyn Ching & Co. (Solray) Limited for the year ended 30 June 2018
which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of
Changes in Equity and the related notes from the company's accounting records and from information and
explanations you have given us.

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.

This report is made solely to the Board of Directors of Comyn Ching & Co. (Solray) 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 Comyn Ching & Co. (Solray) Limited and state those matters that we have agreed to state to the Board of Directors of Comyn Ching & Co. (Solray) 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 Comyn Ching & Co. (Solray) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Comyn Ching & Co. (Solray) 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 Comyn Ching & Co. (Solray) Limited. You consider that Comyn Ching & Co. (Solray) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Comyn Ching & Co. (Solray) 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.






WBV Limited
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
SA1 8QY


26 March 2019

COMYN CHING & CO. (SOLRAY) LIMITED (REGISTERED NUMBER: 01254878)

BALANCE SHEET
30 JUNE 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 732,432 731,371

CURRENT ASSETS
Stocks 133,227 145,550
Debtors 5 511,585 862,312
Cash at bank and in hand 13,508 23,137
658,320 1,030,999
CREDITORS
Amounts falling due within one year 6 810,070 680,720
NET CURRENT (LIABILITIES)/ASSETS (151,750 ) 350,279
TOTAL ASSETS LESS CURRENT
LIABILITIES

580,682

1,081,650

CREDITORS
Amounts falling due after more than
one year

7

42,415

35,995
NET ASSETS 538,267 1,045,655

CAPITAL AND RESERVES
Called up share capital 10 10,067 10,000
Retained earnings 528,200 1,035,655
SHAREHOLDERS' FUNDS 538,267 1,045,655

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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.

COMYN CHING & CO. (SOLRAY) LIMITED (REGISTERED NUMBER: 01254878)

BALANCE SHEET - continued
30 JUNE 2018


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 26 March 2019 and were signed on
its behalf by:





Mr A Ching - Director


COMYN CHING & CO. (SOLRAY) LIMITED (REGISTERED NUMBER: 01254878)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

1. STATUTORY INFORMATION

Comyn Ching & Co. (Solray) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Critical accounting judgements and key sources of estimation uncertainty
In preparing the financial statements, management is required to make estimates and assumptions
which affect upon reported income, expenses, assets, liabilities and disclosure of contingent assets
and liabilities. Use of available information and application of judgments are inherent in the
formation of estimates, together with past experience and expectations of future events that are
believed to be reasonable under the circumstances. Actual results in the future could differ from
such estimates.

The directors consider there were no key sources of estimation uncertainty or significant judgments
in applying the accounting policies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and
trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of heating and cooling panels is recognised when significant risks and
rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be
measured reliably, it is probable that the economic benefits associated with the transaction will flow
to the company and the costs incurred or to be incurred in respect of the transaction can be
measured reliably. This is usually on dispatch of the goods.

Construction contracts
When the outcome of a construction contract can be estimated reliably, contract costs and turnover
are recognised by reference to the stage of completion at the balance sheet date. Stage of
completion is measured by reference to the percentage of the overall contract completed.
Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the
period in which they are incurred and contract turnover is recognised to the extent of costs incurred
that it is probable will be recoverable.
When it is probable that contract costs will exceed the total contract turnover, the expected loss is
recognised as an expense immediately, with a corresponding provision.

COMYN CHING & CO. (SOLRAY) LIMITED (REGISTERED NUMBER: 01254878)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

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

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.

Financial instruments
Financial instruments are recognised in the balance sheet when the company becomes party to the
contractual provisions of the instrument. Financial instruments are initially measured at transaction
price unless the arrangement constitutes a financing transaction which includes transaction costs for
financial instruments not subsequently measured at fair value. Subsequent to initial recognition,
they are measured as set out below. A financing transaction is measured at the present value of the
future payments discounted at a market rate of interest for a similar debt instrument.

Classification
Financial instruments are classified as either "basic" or "other" in accordance with Chapter 11 of
FRS102.

Subsequent measurement
Loans and receivables are measured at amortised cost, using the effective interest method. Trade
debtors and trade payables are recognised at the undiscounted amount owed by the customer or to
the supplier, which is normally the invoice amount.

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.


COMYN CHING & CO. (SOLRAY) LIMITED (REGISTERED NUMBER: 01254878)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Costs in respect of operating leases are charged to the profit and loss account on a straight line basis
over the lease term.

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.

Going concern
The Company meets its day to day working capital requirements through an overdraft facility. The
overdraft is due for renewal in March 2019 and the directors anticipate the ongoing support of the
bank. The company's financial risk management has identified additional funding lines which could
be called upon if required. Accordingly, the directors consider it is appropriate to adopt the going
concern basis in preparing the financial statements.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the profit and
loss account in other administrative expenses.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the
employees are entitled are recognised at the undiscounted amount expected to be paid in exchange
for that service.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2017 - 33 ) .

COMYN CHING & CO. (SOLRAY) LIMITED (REGISTERED NUMBER: 01254878)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2017 884,420 385,213 39,645
Additions - 14,078 -
At 30 June 2018 884,420 399,291 39,645
DEPRECIATION
At 1 July 2017 237,287 341,010 39,645
Charge for year 17,689 9,585 -
At 30 June 2018 254,976 350,595 39,645
NET BOOK VALUE
At 30 June 2018 629,444 48,696 -
At 30 June 2017 647,133 44,203 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2017 164,529 30,061 1,503,868
Additions 31,684 1,644 47,406
At 30 June 2018 196,213 31,705 1,551,274
DEPRECIATION
At 1 July 2017 127,644 26,911 772,497
Charge for year 18,253 818 46,345
At 30 June 2018 145,897 27,729 818,842
NET BOOK VALUE
At 30 June 2018 50,316 3,976 732,432
At 30 June 2017 36,885 3,150 731,371

The net book value of tangible fixed assets includes £50,316 (2017 - £36,886) in respect of assets
held under hire purchase contracts.


COMYN CHING & CO. (SOLRAY) LIMITED (REGISTERED NUMBER: 01254878)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 497,614 463,519
Amounts owed by group undertakings - 385,885
Other debtors 13,971 12,908
511,585 862,312

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 164,613 290,670
Hire purchase contracts (see note 8) 26,675 15,900
Trade creditors 296,078 221,317
Amounts owed to group undertakings 136,782 -
Taxation and social security 106,983 75,676
Other creditors 78,939 77,157
810,070 680,720

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Hire purchase contracts (see note 8) 42,415 35,995

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2018 2017
£    £   
Net obligations repayable:
Within one year 26,675 15,900
Between one and five years 42,415 35,995
69,090 51,895

COMYN CHING & CO. (SOLRAY) LIMITED (REGISTERED NUMBER: 01254878)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

8. LEASING AGREEMENTS - continued

Non-cancellable
operating leases
2018 2017
£    £   
Within one year 27,556 17,413
Between one and five years 33,279 16,446
60,835 33,859

The above represents the total minimum future lease payments at the end of the year.

9. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank overdrafts 164,613 290,670
Hire purchase contracts 69,090 51,895
233,703 342,565

The bank overdraft is secured by a first legal charge over the company's freehold premises and an
unlimited debenture provided by the company.

10. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
10,000 Ordinary £1 10,000 10,000
6,667 B Ordinary 0.01 67 -
10,067 10,000

The following shares were allotted and fully paid for cash at par during the year:

0 Ordinary shares of £1 each
6,667 B Ordinary shares of 0.01 each

COMYN CHING & CO. (SOLRAY) LIMITED (REGISTERED NUMBER: 01254878)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018

11. ULTIMATE PARENT COMPANY

The company's ultimate parent company is Comyn ching Limited, a company incorporated in
England and Wales, whose registered office is Solray Works, Phoenix Way, Garngoch industrial
Estate, Gorseinon, Swansea SA4 9WF.