Requip Supplies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02609427 (England and Wales)

REQUIP SUPPLIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

Mrs E H Sydenham

D I Sydenham

C I Sydenham

M T Weare

REGISTERED OFFICE:

1 Vulcan Way

Coalville

Leicestershire

LE67 3AP

REGISTERED NUMBER:

02609427 (England and Wales)

SENIOR STATUTORY AUDITOR:

Michael Argyle BSc ACA

AUDITORS:

Duncan & Toplis Limited, statutory auditor

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

FIXED ASSETS

Property, plant and equipment

4

-

3,863

CURRENT ASSETS

Inventories

744,198

692,682

Debtors

5

302,051

469,784

Cash at bank and in hand

403,859

285,805

1,450,108

1,448,271

CREDITORS

Amounts falling due within one year

6

314,040

333,813

NET CURRENT ASSETS

1,136,068

1,114,458

TOTAL ASSETS LESS CURRENT LIABILITIES

1,136,068

1,118,321

CREDITORS

Amounts falling due after more than one year

7

-

2,879

NET ASSETS

1,136,068

1,115,442

CAPITAL AND RESERVES

Called up share capital

9

501

501

Capital redemption reserve

499

499

Retained earnings

1,135,068

1,114,442

SHAREHOLDERS' FUNDS

1,136,068

1,115,442

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 2 September 2019 and were signed on its behalf by:

D I Sydenham - Director

Mrs E H Sydenham - Director

1.	STATUTORY INFORMATION

Requip Supplies Limited 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Revenue

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

value added tax and other sales taxes.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial

position. 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 2 (2018 - 6 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 May 2018

26,499

Disposals

(26,499

)

At 30 April 2019

-

DEPRECIATION

At 1 May 2018

22,636

Charge for year

3,864

Eliminated on disposal

(26,500

)

At 30 April 2019

-

NET BOOK VALUE

At 30 April 2019

-

At 30 April 2018

3,863

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

280,641

467,232

Amounts owed by group undertakings

21,410

-

Prepayments

-

2,552

302,051

469,784

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

4,028

Trade creditors

187,995

282,709

Amounts owed to group undertakings

-

13,047

Taxation

48,700

29

Other taxes and social security

3,160

11,807

Other creditors

4,000

10,000

Accruals and deferred income

70,185

12,193

314,040

333,813

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

2,879

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

-

6,907

Hire purchase creditors are secured on the assets to which they relate.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

501

Ordinary

£1

501

501

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Argyle BSc ACA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Limited, statutory auditor

11.	OTHER FINANCIAL COMMITMENTS

The company has commitments due as follows:

2019

2018

£

£

Due in less than one year

-

992

Due between two and five years

-

-

-

992

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by CMS Cepcor (Holdings) Limited, a company incorporated in England and Wales.

The principal place of business of CMS Cepcor (Holdings) Limited is:

1 Vulcan Way

Coalville

Leicestershire

LE67 3AP