Standard Radiator & Plating Co Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00419879 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

STANDARD RADIATOR & PLATING CO LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J M Keeble

W R Keeble

SECRETARY:

Mrs J M Keeble

REGISTERED OFFICE:

Quarry Cottage

Quarry Road

Portishead

North Somerset

BS20 6AY

REGISTERED NUMBER:

00419879 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

TSB Bank plc

6 Speke Road

Garston

Liverpool

L19 2PD

FIXED ASSETS

Intangible assets

4

-

-

Investment property

5

110,000

110,000

110,000

110,000

CURRENT ASSETS

Debtors

6

5,668

127,694

Cash at bank

440,666

317,349

446,334

445,043

CREDITORS

Amounts falling due within one year

7

26,864

28,556

NET CURRENT ASSETS

419,470

416,487

TOTAL ASSETS LESS CURRENT LIABILITIES

529,470

526,487

PROVISIONS FOR LIABILITIES

8

9,258

9,384

NET ASSETS

520,212

517,103

CAPITAL AND RESERVES

Called up share capital

9

2,200

2,200

Fair value reserve

10

82,543

82,417

Retained earnings

10

435,469

432,486

SHAREHOLDERS' FUNDS

520,212

517,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 30 July 2019 and were signed on its behalf by:

W R Keeble - Director

1.	STATUTORY INFORMATION

Standard Radiator & Plating Co Ltd 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 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill being the amount paid in connection with the acquisition of a business in 1987, was amortised in full in

the year ended 31 October 1998.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities such as trade and other accounts receivable and payable. Basic financial instruments are

recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive

Income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2017

and 31 October 2018

903

AMORTISATION

At 1 November 2017

and 31 October 2018

903

NET BOOK VALUE

At 31 October 2018

-

At 31 October 2017

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2017

and 31 October 2018

110,000

NET BOOK VALUE

At 31 October 2018

110,000

At 31 October 2017

110,000

Fair value at 31 October 2018 is represented by:

£

Valuation in 2016

91,801

Cost

18,199

110,000

The Investment Property was valued on a market value basis by the directors at the balance sheet date.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,988

4

Other debtors

3,680

126,342

VAT

-

412

Prepayments

-

936

5,668

127,694

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Tax

1,840

-

Directors' loan accounts

23,505

23,507

Accrued expenses

1,519

5,049

26,864

28,556

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

Other timing differences

9,258

9,384

Deferred

tax

£

Balance at 1 November 2017

9,384

Credit to Statement of Comprehensive Income during year

(126

)

Balance at 31 October 2018

9,258

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2,200

Ordinary

£1

2,200

2,200

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 November 2017

432,486

82,417

514,903

Profit for the year

8,109

8,109

Dividends

(5,000

)

(5,000

)

Transfer

(126

)

126

-

At 31 October 2018

435,469

82,543

518,012

The fair value reserve represents non distributable retained earnings.

11.	CONTROLLING PARTY

By virtue of her shareholding, Mrs J M Keeble controls the company.