Trumor International Steel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02203887 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

TRUMOR INTERNATIONAL STEEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P L Bennett

Mrs B Bennett

SECRETARY:

Mrs B Bennett

REGISTERED OFFICE:

Glien House

Cillefwr Industrial Estate

Johnstown

Carmarthen

West Wales

SA31 3RB

REGISTERED NUMBER:

02203887 (England and Wales)

ACCOUNTANTS:

DAVID WRIGHT ACCOUNTANTS LIMITED

1st Floor..

Nathaniel House

David Street

Bridgend

South Wales

CF31 3SA

FIXED ASSETS

Tangible assets

4

8,598

11,620

Investments

5

1

1

8,599

11,621

CURRENT ASSETS

Stocks

2,359

2,359

Debtors

6

161,432

153,812

Investments

7

5,828

7,951

Cash at bank

119,909

146,463

289,528

310,585

CREDITORS

Amounts falling due within one year

8

(93,296

)

(76,397

)

NET CURRENT ASSETS

196,232

234,188

TOTAL ASSETS LESS CURRENT LIABILITIES

204,831

245,809

CAPITAL AND RESERVES

Called up share capital

143

143

Retained earnings

204,688

245,666

SHAREHOLDERS' FUNDS

204,831

245,809

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 25 September 2019 and were signed on its behalf by:

P L Bennett - Director

Mrs B Bennett - Director

1.	STATUTORY INFORMATION

Trumor International Steel 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.

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 represents commission receivable in respect of services provided during the year, exclusive of Value

Added Tax. Commission receivable represents the total amount earned by the Company when acting as agent in

the sale of goods by third parties. Commission is normally due 90 days after the transaction has been completed,

depending upon the terms agreed between the principal and the third parties involved. Accordingly only

commission earned on transactions up to and including the 30 September has been accrued for in the financial

statements.

Tangible fixed assets

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

-

33% on reducing balance, 25% on reducing balance, 25% on cost and 15% 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.

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

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.

Investments

Fixed asset investments are shown at cost. The carrying values of investments are reviewed for impairment if

events or changes in circumstances indicate the carrying values may not be recoverable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

and 31 December 2018

25,000

DEPRECIATION

At 1 January 2018

13,380

Charge for year

3,022

At 31 December 2018

16,402

NET BOOK VALUE

At 31 December 2018

8,598

At 31 December 2017

11,620

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2018

19,965

Transfer to ownership

(19,965

)

At 31 December 2018

-

DEPRECIATION

At 1 January 2018

11,777

Charge for year

2,047

Transfer to ownership

(13,824

)

At 31 December 2018

-

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

8,188

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2018

and 31 December 2018

14,000

PROVISIONS

At 1 January 2018

and 31 December 2018

13,999

NET BOOK VALUE

At 31 December 2018

1

At 31 December 2017

1

During 2011 the company invested £14,000 in the partnership of Dean Street Productions No.12 LLP. At the

balance sheet date the directors are of the opinion that the investment continues to be valued at no more than £1.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

65,711

53,476

Other debtors

28,024

28,024

Directors' current accounts

67,697

72,312

161,432

153,812

7.	CURRENT ASSET INVESTMENTS

31.12.18

31.12.17

£

£

Unlisted investments

2,000

2,000

Partnership Net Current Assets

3,828

5,951

5,828

7,951

Partnership net current assets comprise of the following:-

31/12/18

31/12/17

£

£

Stocks

3,459

5,893

Debtors

383

92

Cash at bank

26

35

3,868

6,020

Less: Creditors

(40

)

(69

)

Net current assets

3,828

5,951

The company is a member of Dean Close LLP, which is a qualifying partnership and in accordance with The

Partnership Accounts Regulations 2008 No. 569, a copy of the Limited Liability Partnership abbreviated

accounts for the period to 31 December 2017 is appended to these accounts as filed under section 444 of the

2006 Act.

The directors consider that, in order to show a true and fair view, the 8ompany's value adjustments to current

asset investments are equivalent to its share of the results of the Dean Close LLP, which should be accounted for

in the profit and loss account and its share of net assets should be shown within current assets on the balance

sheet. These accounts have been prepared on that basis.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

46,936

23,741

Corporation Tax

8,012

18,387

Social security and other taxes

9,889

6,621

Other creditors

25,459

24,648

Accrued expenses

3,000

3,000

93,296

76,397

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2018 and

31 December 2017:

31.12.18

31.12.17

£

£

P L Bennett and Mrs B Bennett

Balance outstanding at start of year

72,312

64,466

Amounts advanced

17,385

27,846

Amounts repaid

(22,000

)

(20,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

67,697

72,312

The loan was repaid in full after the year-end.