Cheshire Seals and Components Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07280790 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2018

for

Cheshire Seals and Components Limited

Page

Company Information

1

Chartered Accountant's Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Paul Leonard Wallace

David Kennedy

REGISTERED OFFICE:

Unit 18 Birch Court Grosvenor Grange

Woolston

Warrington

WA1 4GD

REGISTERED NUMBER:

07280790 (England and Wales)

ACCOUNTANT:

Susan Ellison

30 Whitchurch Close

Padgate

Warrington

Cheshire

WA1 4JZ

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, I have prepared for your

approval the financial statements of Cheshire Seals and Components Limited for the year ended

30 September 2018 which comprise the Income Statement, 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 me.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), I 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 Cheshire Seals and Components Limited, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Cheshire Seals and Components Limited and state those matters that I have agreed to state to the Board of Directors of Cheshire Seals and Components Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Cheshire Seals and Components Limited and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that Cheshire Seals and Components 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 Cheshire Seals and Components Limited. You consider that Cheshire Seals and Components Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Cheshire Seals and Components Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Susan Ellison

30 Whitchurch Close

Padgate

Warrington

Cheshire

WA1 4JZ

20 February 2019

FIXED ASSETS

Tangible assets

4

217,883

151,044

CURRENT ASSETS

Stocks

34,900

25,345

Debtors

5

152,185

121,685

Cash at bank and in hand

86,531

60,437

273,616

207,467

CREDITORS

Amounts falling due within one year

6

237,668

222,697

NET CURRENT ASSETS/(LIABILITIES)

35,948

(15,230

)

TOTAL ASSETS LESS CURRENT LIABILITIES

253,831

135,814

CREDITORS

Amounts falling due after more than one year

7

54,294

14,404

NET ASSETS

199,537

121,410

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

199,535

121,408

SHAREHOLDERS' FUNDS

199,537

121,410

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

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

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 20 February 2019 and were signed on its behalf by:

Paul Leonard Wallace - Director

David Kennedy - Director

1.	STATUTORY INFORMATION

Cheshire Seals and Components 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.

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.

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.

Plant and machinery etc

-

33% on cost, 20% on cost and 10% on 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

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.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income

account and are released to profit over the expected useful lives of the relevant assets by

equal annual instalments. Grants of a revenue nature are credited to income so as to match

them with the expenditure to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2017 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2017

329,764

Additions

108,241

Disposals

(17,838

)

At 30 September 2018

420,167

DEPRECIATION

At 1 October 2017

178,720

Charge for year

41,402

Eliminated on disposal

(17,838

)

At 30 September 2018

202,284

NET BOOK VALUE

At 30 September 2018

217,883

At 30 September 2017

151,044

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2017

191,458

Additions

75,795

At 30 September 2018

267,253

DEPRECIATION

At 1 October 2017

70,088

Charge for year

23,700

At 30 September 2018

93,788

NET BOOK VALUE

At 30 September 2018

173,465

At 30 September 2017

121,370

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/18

30/9/17

£

£

Trade debtors

148,901

117,997

Other debtors

3,284

3,688

152,185

121,685

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/18

30/9/17

£

£

Finance leases

26,818

27,038

Trade creditors

37,141

11,973

Taxation and social security

50,485

44,841

Other creditors

123,224

138,845

237,668

222,697

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/9/18

30/9/17

£

£

Finance leases

54,294

14,404

8.	OTHER FINANCIAL COMMITMENTS

As at 30 September 2018 the company had annual commitments under non-cancellable

operating leases as follows:

Operating leases which expire within two and five years £33,936 (2017 - £33936)

9.	ULTIMATE CONTROLLING PARTY

The controlling party is the Directors.