Elbmar Limited - Accounts to registrar (filleted) - small 18.2
Elbmar Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| ELBMAR LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31ST DECEMBER 2018 |
| ELBMAR LIMITED (REGISTERED NUMBER: 01148931) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| ELBMAR LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 43-45 Devizes Road |
| SWINDON |
| Wiltshire |
| SN1 4BG |
| BANKERS: |
| 28 Regent Street |
| SWINDON |
| Wiltshire |
| SN1 1QB |
| ELBMAR LIMITED (REGISTERED NUMBER: 01148931) |
| STATEMENT OF FINANCIAL POSITION |
| 31ST DECEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Capital redemption reserve |
| 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. |
| ELBMAR LIMITED (REGISTERED NUMBER: 01148931) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31ST DECEMBER 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| ELBMAR LIMITED (REGISTERED NUMBER: 01148931) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| Elbmar Limited is a |
| 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 (£). |
| The company is a private company limited by shares. registered in England and Wales. The registered |
| office address is 43-45 Devizes Road, Swindon, Wiltshire, SN1 4BG. |
| 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" if Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK |
| and Republic of Ireland" and the Companies Act 2006. |
| Significant judgements and estimates |
| In preparing these financial statements, the directors have made the following judgements: |
| - Determine whether leases entered into by the company as a lessee are operating leases or finance |
| leases. These decisions depend on an assessment of whether the risks and rewards of ownership have |
| been transferred from the lessor to the lessee on a lease by lease basis. |
| - Determine the period of useful economic life and any residual value of all tangible fixed assets order |
| to write off the value of each asset over that period. |
| - Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all |
| balances on a balance by balance basis. |
| - Determine an appropriate provision for obsolete and slow moving stocks by assessing the net |
| realisable value of all stock lines on a line by line basis. |
| 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 |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures, fittings, office equipment and furniture |
- |
| Computer equipment | - |
| Freehold property was not depreciated during the year because the residual value is considered to be |
| the same as or more than the carrying value in the balance sheet. |
| 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. |
| ELBMAR LIMITED (REGISTERED NUMBER: 01148931) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Short term debtors are measured at transaction price, less any impairment. Loans receivable are |
| measured initially at fair value, net of transaction costs, and are measured subsequently at amortised |
| cost using the effective interest method, less any impairment. |
| Short term trade creditors are measured at the transaction price. Other financial liabilities, including |
| loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at |
| amortised cost using the effective interest method. |
| 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 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. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ELBMAR LIMITED (REGISTERED NUMBER: 01148931) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1st January 2018 |
| Additions |
| At 31st December 2018 |
| DEPRECIATION |
| At 1st January 2018 |
| Charge for year |
| At 31st December 2018 |
| NET BOOK VALUE |
| At 31st December 2018 |
| At 31st December 2017 |
| Fixed assets, included in the above, which are held under hire purchase contracts and finance leases |
| are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st January 2018 |
| Additions |
| Reclassification/transfer | (20,000 | ) |
| At 31st December 2018 |
| DEPRECIATION |
| At 1st January 2018 |
| Charge for year |
| Reclassification/transfer | ( |
) |
| At 31st December 2018 |
| NET BOOK VALUE |
| At 31st December 2018 |
| At 31st December 2017 |
| ELBMAR LIMITED (REGISTERED NUMBER: 01148931) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts and finance leases |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Hire purchase contracts and finance leases |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Hire purchase contracts and finance leases | 33,436 | 63,391 |
| Barclays Bank Plc hold a floating charge over the assets of the company in respect of the bank |
| overdraft and the bank loan is secured against Unit 6 Oppenheimer Centre. |
| Obligations under hire purchase and finance lease contracts are secured on the assets concerned. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 800 | 800 |