Vulcatech Belting Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04811326 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2019

for

Vulcatech Belting Ltd

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr S A Pledger

Mrs J Pledger

SECRETARY:

Mrs J Pledger

REGISTERED OFFICE:

49 Castle Rising Road

South Wootton

King's Lynn

Norfolk

PE30 3JA

BUSINESS ADDRESS:

29 Enterprise Way

Hardwick Narrows

King's Lynn

Norfolk

PE30 4LJ

REGISTERED NUMBER:

04811326 (England and Wales)

ACCOUNTANTS:

Steve Pye & Co.

Chartered Certified Accountants

Unit 3 North Lynn Business Village

Bergen Way

North Lynn Industrial Estate

King's Lynn

Norfolk

PE30 2JG

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Vulcatech Belting Ltd for the year ended 31 July 2019 which comprise the Statement of Income

and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Vulcatech Belting Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vulcatech Belting Ltd and state those matters that we have agreed to state to the Board of Directors of Vulcatech Belting Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Vulcatech Belting Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vulcatech Belting Ltd. You consider that Vulcatech Belting Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Vulcatech Belting Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Steve Pye & Co.

Chartered Certified Accountants

Unit 3 North Lynn Business Village

Bergen Way

North Lynn Industrial Estate

King's Lynn

Norfolk

PE30 2JG

2 October 2019

FIXED ASSETS

Tangible assets

5

847,089

883,033

CURRENT ASSETS

Stocks

324,787

240,464

Debtors

6

534,991

530,083

Cash at bank and in hand

115,097

81,229

974,875

851,776

CREDITORS

Amounts falling due within one year

7

408,180

378,671

NET CURRENT ASSETS

566,695

473,105

TOTAL ASSETS LESS CURRENT LIABILITIES

1,413,784

1,356,138

CREDITORS

Amounts falling due after more than one year

8

(380,393

)

(435,270

)

PROVISIONS FOR LIABILITIES

(61,475

)

(69,152

)

NET ASSETS

971,916

851,716

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

970,916

850,716

971,916

851,716

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

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

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

Mr S A Pledger - Director

1.	STATUTORY INFORMATION

Vulcatech Belting Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Land and buildings

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

Improvements to property

-

15% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

No depreciation is provided on the company's freehold properties since in the opinion of the directors the

expected useful lives are sufficiently long and the estimated residual values are sufficiently high that any such

depreciation would be immaterial. The directors undertake an annual impairment review of these properties.

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 Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2018 - 14 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

Motor

property

property

machinery

vehicles

Totals

£

£

£

£

£

COST

At 1 August 2018

493,637

57,022

519,939

226,909

1,297,507

Additions

-

11,782

65,766

7,250

84,798

Disposals

-

(28,619

)

(81,570

)

(83,602

)

(193,791

)

At 31 July 2019

493,637

40,185

504,135

150,557

1,188,514

DEPRECIATION

At 1 August 2018

-

31,585

259,828

123,061

414,474

Charge for year

-

6,028

47,610

20,026

73,664

Eliminated on disposal

-

(27,325

)

(66,778

)

(52,610

)

(146,713

)

At 31 July 2019

-

10,288

240,660

90,477

341,425

NET BOOK VALUE

At 31 July 2019

493,637

29,897

263,475

60,080

847,089

At 31 July 2018

493,637

25,437

260,111

103,848

883,033

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

509,797

517,654

Other debtors

25,194

12,429

534,991

530,083

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

8,126

8,474

Hire purchase contracts

47,325

54,179

Trade creditors

178,291

199,470

Taxation and social security

150,842

101,116

Other creditors

23,596

15,432

408,180

378,671

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

310,925

318,440

Hire purchase contracts

69,468

116,830

380,393

435,270

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

274,816

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

319,051

326,914

On 25 August 2017 as charge was created securing the mortgage against the property owned at Units 1-4

Enterprise Way, and all furnishings, fixtures and plant and machinery kept at the premises.