Gorge Fabrications Limited - Accounts to registrar (filleted) - small 18.2
Gorge Fabrications Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2018 |
| FOR |
| GORGE FABRICATIONS LIMITED |
| GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| GORGE FABRICATIONS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Black Country House |
| Rounds Green Road |
| Oldbury |
| West Midlands |
| B69 2DG |
| GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551) |
| BALANCE SHEET |
| 31 JULY 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) |
| NET ASSETS |
| GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551) |
| BALANCE SHEET - continued |
| 31 JULY 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital |
| Other reserves | ( |
) | ( |
) |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 signed on its behalf by: |
| GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2018 |
| 1. | STATUTORY INFORMATION |
| Gorge Fabrications Limited is a |
| 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 |
| Turnover |
| Turnover is recognised by the company in respect of goods supplied in the year. It is |
| recognised to the extent that it is probable that economic benefits will flow to the company |
| and the revenue can be reliably measured. Revenue 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 |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at the most recent valuation. Any aggregate surplus or deficit |
| arising from changes in fair value is recognised in the Income Statement. |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts and finance leases are capitalised as |
| tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of |
| the lease term and their useful lives. Assets acquired by hire purchase are depreciated over |
| their useful lives. Finance leases are those where substantially all of the benefits and risks of |
| ownership are assumed by the company. Obligations under such agreements are included in |
| creditors net of the finance charge allocated to future periods. The finance element of the |
| rental payment is charged to the Income Statement so as to produce a constant periodic rate |
| of charge on the net obligation outstanding in each period. |
| GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 the Income Statement in the period to which they |
| relate. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in |
| recognition of financial assets and liabilities like trade and other debtors and creditors, loans |
| from banks and other third parties and related parties. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 August 2017 |
| At 31 July 2018 |
| DEPRECIATION |
| At 1 August 2017 |
| Charge for year |
| At 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2018 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2017 |
| Additions |
| At 31 July 2018 |
| DEPRECIATION |
| At 1 August 2017 |
| Charge for year |
| At 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as |
| follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 August 2017 |
| and 31 July 2018 |
| DEPRECIATION |
| At 1 August 2017 |
| Charge for year |
| At 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2018 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 August 2017 |
| and 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| The investment property was valued on an open market basis on the 31 July 2018 by the |
| directors. The original cost of the property was £379,265. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2018 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts | 9,472 | 23,680 |
| The amount included in hire purchase contracts and finance leases are secured on the plant |
| and machinery to which the hire purchase relates. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Investment property |
| revaluation | - | (4,975 | ) |
| - | 2,297 |
| Deferred |
| tax |
| £ |
| Balance at 1 August 2017 |
| Credit to Income Statement during year | ( |
) |
| Balance at 31 July 2018 |
| 11. | PENSION COMMITMENTS |
| The company operates a defined contributions pension scheme. The assets of the scheme |
| are held separately from those of the company in an independently administered fund. |
| Contributions totalling £932 (2017: £558) were payable to the fund at the balance sheet |
| date. |