R.G. Foster Textile Machinery Limited - Accounts to registrar (filleted) - small 18.2
R.G. Foster Textile Machinery Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
| FOR |
| R.G. FOSTER TEXTILE MACHINERY LIMITED |
| R.G. FOSTER TEXTILE MACHINERY LIMITED (REGISTERED NUMBER: 01292470) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| R.G. FOSTER TEXTILE MACHINERY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 10 Stadium Business Court |
| Millennium Way |
| Pride Park |
| Derby |
| DE24 8HP |
| R.G. FOSTER TEXTILE MACHINERY LIMITED (REGISTERED NUMBER: 01292470) |
| BALANCE SHEET |
| 31 DECEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| 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. |
| 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 by: |
| R.G. FOSTER TEXTILE MACHINERY LIMITED (REGISTERED NUMBER: 01292470) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| R.G. Foster Textile Machinery Limited is a |
| 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 |
| 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 |
| Equipment | - |
| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation |
| and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the |
| date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment |
| losses. |
| An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive |
| income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset |
| previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, |
| is recognised in other comprehensive income to the extent of any previously recognised revaluation increase |
| accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated |
| revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. |
| 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 Statement of Income and |
| Retained Earnings, 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| R.G. FOSTER TEXTILE MACHINERY LIMITED (REGISTERED NUMBER: 01292470) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold |
| land | Equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2018 |
| and 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| The directors consider a realistic value of the freehold property to be £1,504,493. |
| Historical cost as at 31 December 2017 was £2,005,210. |
| 5. | STOCKS |
| 2018 | 2017 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts |
| VAT |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Tax |
| Other creditors |
| Accruals and deferred income |
| 8. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax |
| Deferred tax |
| £ |
| Balance at 1 January 2018 |
| Balance at 31 December 2018 |
| R.G. FOSTER TEXTILE MACHINERY LIMITED (REGISTERED NUMBER: 01292470) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | 10p | 250,004 | 250,004 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 December 2018 and |
| 31 December 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 |
| 11. | RELATED PARTY TRANSACTIONS |
| During the year, the company received a loan from the FTM pension fund for which the directors are |
| beneficiaries. The amount outstanding at the year end was £246,560. |