Neepsend Cast Components Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02563851 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2018

FOR

NEEPSEND CAST COMPONENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R D Beasley

P A Beasley

SECRETARY:

Mrs M B Beasley

REGISTERED OFFICE:

Faith Works

Club Mill Road

Sheffield

S6 2FG

REGISTERED NUMBER:

02563851 (England and Wales)

ACCOUNTANTS:

Hodgson & Oldfield

20 Paradise Square

Sheffield

S1 2DE

FIXED ASSETS

Tangible assets

4

187

260

CURRENT ASSETS

Stocks

27,000

23,000

Debtors

5

70,151

46,071

Cash at bank and in hand

39,019

41,054

136,170

110,125

CREDITORS

Amounts falling due within one year

6

44,003

32,504

NET CURRENT ASSETS

92,167

77,621

TOTAL ASSETS LESS CURRENT LIABILITIES

92,354

77,881

PROVISIONS FOR LIABILITIES

36

49

NET ASSETS

92,318

77,832

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

50

50

Retained earnings

92,168

77,682

SHAREHOLDERS' FUNDS

92,318

77,832

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 27 June 2019 and were signed on its behalf by:

P A Beasley - Director

1.	STATUTORY INFORMATION

Neepsend Cast 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover and income recognition

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised

when the goods are physically collected by or delivered to the customer.

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

-

25% on reducing balance and 10% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out

basis. Net realisable value represents estimated selling price. Provision is made for slow moving,

obsolete or damaged stock where the net realisable value is less than cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2017

and 30 September 2018

1,896

DEPRECIATION

At 1 October 2017

1,636

Charge for year

73

At 30 September 2018

1,709

NET BOOK VALUE

At 30 September 2018

187

At 30 September 2017

260

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade debtors

45,810

27,034

Other debtors

24,341

19,037

70,151

46,071

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade creditors

36,552

28,904

Taxation and social security

2,465

496

Other creditors

4,986

3,104

44,003

32,504

7.	DIRECTORS LOANS

The following advances and credits to directors subsisted during the year ended 30 September 2018

and the period ended 30 September 2017:

30.9.18

30.9.17

£

£

P A Beasley

Balance outstanding at start of year

(127

)

1,743

Amounts advanced

3,520

3,230

Amounts repaid

(3,500

)

(5,100

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(107

)

(127

)

R D Beasley

Balance outstanding at start of year

(12

)

3,902

Amounts advanced

562

86

Amounts repaid

(2,650

)

(4,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,100

)

(12

)

The loans do not bear interest.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £990 (2017 - £3,465) were paid to the directors .

The company made an interest free loan to N R Beasley.

N R Beasley is R D Beasleys son.

The amount due to the company at 30 September 2018 was £625 (2017 £425).

The company also made an interest free loan to Standon Engineering Services Limited.

R D Beasley & P A Beasley are directors and shareholders in this company.

The amount due to the company at 30 September 2018 was £22,948 (2017 £17,724)

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by R D Beasley and Mrs M B Beasley who together own 100% of the

share capital.