Foundry Trade Journal Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09126455 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2018

FOR

FOUNDRY TRADE JOURNAL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss L M Postle

SECRETARY:

A Turner

REGISTERED OFFICE:

Winton House

Lyonshall

Kington

Herefordshire

HR5 3JP

REGISTERED NUMBER:

09126455 (England and Wales)

ACCOUNTANTS:

Fields

2nd Floor

Landchard House

Victoria Street

West Bromwich

West Midlands

B70 8ER

BANKERS:

Barclays Bank Plc

1/3 Broad Street

Hereford

Herefordshire

HR4 9BH

FIXED ASSETS

Intangible assets

5

9,500

19,000

Tangible assets

6

262

3,300

9,762

22,300

CURRENT ASSETS

Stocks

-

275

Debtors

7

38,306

36,020

Cash at bank

30,955

50,890

69,261

87,185

CREDITORS

Amounts falling due within one year

8

43,166

73,663

NET CURRENT ASSETS

26,095

13,522

TOTAL ASSETS LESS CURRENT LIABILITIES

35,857

35,822

PROVISIONS FOR LIABILITIES

50

627

NET ASSETS

35,807

35,195

CAPITAL AND RESERVES

Called up share capital

19

19

Retained earnings

35,788

35,176

SHAREHOLDERS' FUNDS

35,807

35,195

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 20th June 2019 and were signed by:

Miss L M Postle - Director

1.	STATUTORY INFORMATION

Foundry Trade Journal 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 financial statements are prepared in sterling which is the functional currency of the company and are rounded to the

nearest £1.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going Concern

The director believes that there are no material uncertainties related to events or conditions that may cast significant doubt

on the ability of the company to continue as a going concern and therefore the going concern basis remains appropriate in

the preparation of the financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect

the reported amounts of assets and liabilities as at the reporting date and the amounts reported for turnover and expenses

during the period. The nature of estimating means that actual outcomes could differ from the original estimates.

The principal accounting policies and the judgements and estimates that have the most significant effect on amounts

recognised in the financial statements are as detailed below.

Revenue recognition

Turnover is the amount derived from the sale of goods and services falling within the company's ordinary activities

(excluding Value Added Tax).

Turnover from the provision of goods is recognised when the risks and rewards of ownership of goods have been

transferred to the customer. The risks and rewards of ownership of goods are deemed to have been transferred when the

goods are shipped to, or are picked up by, the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Other intangible assets

Other intangible assets represent publication rights purchased in 2016 which last up to 30th September 2019, are being

amortised evenly over their estimated life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each

asset over its estimated useful life.

Fixtures and fittings - 15% on reducing balance

Computer equipment - 33% 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.

Foreign exchange

Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the

date of transaction. Exchange differences in monetary items are recognised in arriving at the operating result.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st October 2017

and 30th September 2018

10,000

30,000

40,000

AMORTISATION

At 1st October 2017

6,000

15,000

21,000

Charge for year

2,000

7,500

9,500

At 30th September 2018

8,000

22,500

30,500

NET BOOK VALUE

At 30th September 2018

2,000

7,500

9,500

At 30th September 2017

4,000

15,000

19,000

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st October 2017

101

8,610

8,711

Additions

65

-

65

At 30th September 2018

166

8,610

8,776

DEPRECIATION

At 1st October 2017

34

5,377

5,411

Charge for year

20

3,083

3,103

At 30th September 2018

54

8,460

8,514

NET BOOK VALUE

At 30th September 2018

112

150

262

At 30th September 2017

67

3,233

3,300

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

38,104

35,168

Other debtors

202

852

38,306

36,020

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

25,815

16,737

Taxation and social security

7,235

10,574

Other creditors

10,116

46,352

43,166

73,663