Ideal Manufacturing Limited - Accounts to registrar (filleted) - small 18.2
Ideal Manufacturing Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
| Ideal Manufacturing Limited |
| Financial Statements For The Year Ended 31 March 2019 |
Ideal Manufacturing Limited (Registered number: 01503733) |
Contents of the Financial Statements |
For The Year Ended 31 March 2019 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Ideal Manufacturing Limited |
Company Information |
For The Year Ended 31 March 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Ideal Manufacturing Limited (Registered number: 01503733) |
Statement of Financial Position |
31 March 2019 |
2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( | ) | ( | ) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
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. |
Ideal Manufacturing Limited (Registered number: 01503733) |
Statement of Financial Position - continued |
31 March 2019 |
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: |
Ideal Manufacturing Limited (Registered number: 01503733) |
Notes to the Financial Statements |
For The Year Ended 31 March 2019 |
1. | STATUTORY INFORMATION |
Ideal Manufacturing Limited is a |
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 |
The turnover shown in the profit and loss account represents goods sold during the year, exclusive of Value |
Added Tax. Income is recognised on despatch |
Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stock is valued at the lower of cost and net realisable value. |
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 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. |
Ideal Manufacturing Limited (Registered number: 01503733) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2019 |
2. | ACCOUNTING POLICIES - continued |
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 pension contribution scheme for the benefit of its employees. Contributions |
| payable are charged to the profit and loss account in the year they are payable. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Development |
costs |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
AMORTISATION |
At 1 April 2018 |
and 31 March 2019 |
NET BOOK VALUE |
At 31 March 2019 |
At 31 March 2018 |
Ideal Manufacturing Limited (Registered number: 01503733) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2019 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 April 2018 |
Additions |
At 31 March 2019 |
DEPRECIATION |
At 1 April 2018 |
Charge for year |
Eliminated on disposal |
At 31 March 2019 |
NET BOOK VALUE |
At 31 March 2019 |
At 31 March 2018 |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2018 |
Additions |
Disposals | ( | ) | ( | ) |
At 31 March 2019 |
DEPRECIATION |
At 1 April 2018 |
Charge for year |
Eliminated on disposal | ( | ) | ( | ) |
At 31 March 2019 |
NET BOOK VALUE |
At 31 March 2019 |
At 31 March 2018 |
| The property was re-valued by Dr M Kalli at 31 January 2015. Dr Kalli is a director of the company and has a |
| strong understanding of the local property market. |
| The carrying amount of the above property under historical cost would be £492,500 (2018: £492,500). |
The net book value of tangible fixed assets includes £ 23,506 (2018 - £ 49,720 ) in respect of assets held under |
hire purchase contracts. |
6. | RELATED PARTY DISCLOSURES |
During the year dividends of £142,000 (2018: £132,000) were paid to the shareholders of the company. |
At the period end the amounts owed from the company to the directors were £36,656 (2018: £19,378). |
At the period end the amounts owed to the company from the directors were Nil (2018: £1,000). |