Chelmer Pneumatics & Compressors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02190542 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Chelmer Pneumatics & Compressors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P W Connolly

N P Connolly

S M Connolly

A R Bultitude

J O Grove

SECRETARY:

A R Bultitude

REGISTERED OFFICE:

Chelmer House

Bellcroft

Eastways Industrial Estate

Witham

Essex

CM8 3YU

REGISTERED NUMBER:

02190542 (England and Wales)

ACCOUNTANTS:

Fisher Michael Chartered Accountants

The Old Grange

Warren Estate

Lordship Road

Writtle

Essex

CM1 3WT

FIXED ASSETS

Tangible assets

4

562,420

567,019

CURRENT ASSETS

Stocks

291,433

381,553

Debtors

5

967,587

882,881

Cash in hand

314

-

1,259,334

1,264,434

CREDITORS

Amounts falling due within one year

6

1,209,886

1,227,745

NET CURRENT ASSETS

49,448

36,689

TOTAL ASSETS LESS CURRENT LIABILITIES

611,868

603,708

CREDITORS

Amounts falling due after more than one year

7

37,708

56,709

NET ASSETS

574,160

546,999

CAPITAL AND RESERVES

Called up share capital

21,000

21,000

Revaluation reserve

187,744

187,744

Capital redemption reserve

20,000

20,000

Retained earnings

345,416

318,255

SHAREHOLDERS' FUNDS

574,160

546,999

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 September 2019 and were signed on its behalf by:

P W Connolly - Director

1.	STATUTORY INFORMATION

Chelmer Pneumatics & Compressors 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.

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

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured

at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful

life:

Land and buildings - 1% on straight line basis

Plant and machinery etc - 18% on straight line basis

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.

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.

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.

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.

Significant judgements and estimates

No significant judgements or estimations have been applied in the preparation of the financial statements.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2018 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

562,075

279,658

841,733

Additions

-

6,317

6,317

At 31 March 2019

562,075

285,975

848,050

DEPRECIATION

At 1 April 2018

5,621

269,093

274,714

Charge for year

5,621

5,295

10,916

At 31 March 2019

11,242

274,388

285,630

NET BOOK VALUE

At 31 March 2019

550,833

11,587

562,420

At 31 March 2018

556,454

10,565

567,019

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

879,860

715,105

Other debtors

87,727

167,776

967,587

882,881

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

110,654

108,087

Trade creditors

409,998

453,449

Taxation and social security

103,980

106,552

Other creditors

585,254

559,657

1,209,886

1,227,745

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

37,708

56,709

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £27,000 (2018 - £34,000) were paid to the directors .

9.	ULTIMATE CONTROLLING PARTY