Archer Technicoat Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01835470 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

ARCHER TECHNICOAT LIMITED

Page

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTORS:

Mr C Prentice

Mrs S C Yeatman

Mr J A Yeatman

SECRETARY:

Mrs S C Yeatman

REGISTERED OFFICE:

Unit E Progress Road

Sands Industrial Estate

High Wycombe

Buckinghamshire

HP12 4JD

REGISTERED NUMBER:

01835470 (England and Wales)

ACCOUNTANTS:

Seymour Taylor Audit Limited

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

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 Statement of Financial Position. 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 Archer Technicoat Limited for the year ended 30 June 2019 which comprise the

Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Archer Technicoat Limited, 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 Archer Technicoat Limited and state those matters that we have agreed to state to the Board of Directors of Archer Technicoat Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Archer Technicoat Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Archer Technicoat Limited 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 Archer Technicoat Limited. You consider that Archer Technicoat Limited 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 Archer Technicoat Limited. 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.

Seymour Taylor Audit Limited

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

14 January 2020

FIXED ASSETS

Tangible assets

4

76,914

47,099

CURRENT ASSETS

Stocks

21,464

29,584

Debtors

5

317,733

363,280

Cash at bank and in hand

872,261

935,449

1,211,458

1,328,313

CREDITORS

Amounts falling due within one year

6

182,082

287,175

NET CURRENT ASSETS

1,029,376

1,041,138

TOTAL ASSETS LESS CURRENT LIABILITIES

1,106,290

1,088,237

PROVISIONS FOR LIABILITIES

7

26,700

24,700

NET ASSETS

1,079,590

1,063,537

CAPITAL AND RESERVES

Called up share capital

8

78

78

Capital redemption reserve

50

50

Retained earnings

1,079,462

1,063,409

SHAREHOLDERS' FUNDS

1,079,590

1,063,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 applicable to companies subject to the small companies regime.

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 14 January 2020 and were signed on its behalf by:

Mr J A Yeatman - Director

1.	STATUTORY INFORMATION

Archer Technicoat is a private company limited by shares and incorporated in England and Wales.

The address of the company's registered office is Unit E, Progress Road, Sands Industrial Estate, High

Wycombe, Buckinghamshire, HP12 4JD. The registered number is 01835470.

The presentation currency of these financial statements is Sterling (£), being the currency of the

primary economic market in which the entity operates (its functional currency). All amounts in these

financial statements have been rounded to the nearest pound unless stated otherwise.

The significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated.

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

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

Improvements to property

-

straight line - 20%

Plant and machinery

-

straight line - 20%

Computer equipment

-

straight line - 33%

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Tax on the profit or loss 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 directly in equity or other

comprehensive income, in which case it is recognised directly in equity or other comprehensive

income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using

tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax

payable in respect of previous years.

Deferred tax

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses

in tax assessments in periods different from those in which they are recognised in the financial

statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed

asset, if and when all conditions for retaining the tax allowances have been met, are not provided for.

Deferred tax is not recognised on permanent differences arising because certain types of income or

expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are

greater or smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related

difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax

balances are not discounted.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Transactions denominated in foreign currencies are translated into Sterling at the rate of exchange

ruling at the date of the transaction. Monetary assets and liabilities at the period end denominated in a

foreign currency are translated into Sterling at the rate of exchange ruling at the balance sheet date.

Exchange differences are taken into account when arriving at the operating profit.

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.

Financial instruments

The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12

"Other Financial Instrument Issues" of FRS 102 to its financial statements.

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument

is any contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2018 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 July 2018

41,421

90,550

24,300

156,271

Additions

680

56,689

1,241

58,610

At 30 June 2019

42,101

147,239

25,541

214,881

DEPRECIATION

At 1 July 2018

24,354

71,291

13,527

109,172

Charge for year

4,403

17,783

6,609

28,795

At 30 June 2019

28,757

89,074

20,136

137,967

NET BOOK VALUE

At 30 June 2019

13,344

58,165

5,405

76,914

At 30 June 2018

17,067

19,259

10,773

47,099

5.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

198,608

154,944

Other debtors

75,635

158,473

274,243

313,417

Amounts falling due after more than one year:

Other debtors

43,490

49,863

Aggregate amounts

317,733

363,280

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

32,793

119,013

Taxation and social security

40,009

16,738

Other creditors

109,280

151,424

182,082

287,175

7.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Other provisions

Provisions for repairs and

renewals

26,700

24,700

26,700

24,700

Repairs

Deferred

and

tax

renewals

£

£

Balance at 1 July 2018

(49,863

)

24,700

Provided during year

6,373

2,000

Balance at 30 June 2019

(43,490

)

26,700

As at 30 June 2018 £24,700 has been reclassified from other creditors to provisions for liabilities.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

Value

£

£

800 (2018 - 800)

Founder

£0.05

40

40

760 (2018 - 760)

Ordinary B

£0.05

38

38

78

78

9.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies not included in the statement of financial

position amount to £210,240 (2018 - £266,990). These relate to obligations under operating leases of

which £56,750 (2018 - £56,750) is due within one year and £153,490 (2018 - £210,240) is due within

one to five years.