Pro-Bolt Limited - Accounts to registrar (filleted) - small 18.2
Pro-Bolt Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018 |
| FOR |
| PRO-BOLT LIMITED |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PRO-BOLT LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Chargrove House |
| Shurdington Road |
| Cheltenham |
| Gloucestershire |
| GL51 4GA |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| BALANCE SHEET |
| 31 AUGUST 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| 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 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| BALANCE SHEET - continued |
| 31 AUGUST 2018 |
| 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 behalf by: |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| 1. | STATUTORY INFORMATION |
| Pro-Bolt 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 (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the total invoice value, excluding value added tax, of sales made during the year. |
| Revenue is recognised on despatch of the goods to the customer. |
| Patents |
| Patents are initially measured at cost. After initial recognition, patents are measured at costs less |
| accumulated amortisation and any accumulated impairment losses. |
| Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful |
| life of 10 years. |
| Website |
| Website costs are initially measured at cost. After initial recognition, website costs are measured at |
| costs less accumulated amortisation and any accumulated impairment losses. |
| The company started amortising the website costs upon completion of the website build. Amortisation |
| is calculated to write off the cost in equal annual instalments over their estimated useful life of 3 years. |
| Tangible fixed assets |
| Short leasehold | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| Financial instruments |
| Financial Instruments are classified by the directors as basic or advanced following the conditions in |
| FRS 102 Section 11. Basic financial instruments are recognised 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 balance sheet date. |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
| the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
| the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
| period of the lease. |
| 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 |
| 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. |
| Going concern |
| The directors consider that there are no material uncertainties that may cast significant doubt about the |
| company’s ability to continue as a going concern, and therefore these financial statements have been |
| prepared on a going concern basis. |
| Provisions |
| Provisions are set up only where it is probable that a present obligation exists as a result of an event |
| prior to the balance sheet date and that a payment will be required in settlement that can be estimated |
| reliably. Where material, provisions are calculated on a discounted basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 September 2017 |
| and 31 August 2018 |
| AMORTISATION |
| At 1 September 2017 |
| Charge for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | and | Motor | Computer |
| leasehold | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2017 |
| Additions |
| At 31 August 2018 |
| DEPRECIATION |
| At 1 September 2017 |
| Charge for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' loan accounts | 29,810 | 2,347 |
| VAT |
| Prepayments and accrued income |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Hire purchase contracts |
| Trade creditors |
| Corporation Tax |
| Social security and other taxes |
| Pension control |
| Other creditors |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other loans - 1-2 years |
| Other loans - 2-5 years | 55,681 | 37,560 |
| Hire purchase contracts |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Hire purchase contracts | 13,558 | 20,452 |
| The bank loans and overdraft are secured by a debenture, which includes all monies due, or to |
| become due from the company to the chargee on any account whatsoever. The debenture also |
| includes fixed and floating charges over the undertaking and all property and assets, present and |
| future, including goodwill, bookdebts, uncalled capital, buildings, fixtures and fixed plant and |
| machinery. |
| PRO-BOLT LIMITED (REGISTERED NUMBER: 03715081) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 August 2018 and |
| 31 August 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest is accruing on the balances at the HMRC approved rate. There are no set repayment terms on |
| the balances owing. |