Armstrong Industries Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03187368 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2020

for

Armstrong Industries Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D Armstrong

A Richards

L Benn

SECRETARY:

LCC Associates Limited

REGISTERED OFFICE:

Leofric House

Binley Road

Coventry

West Midlands

CV3 1JN

REGISTERED NUMBER:

03187368 (England and Wales)

ACCOUNTANTS:

Leigh Christou Ltd

Chartered Certified Accountants

Leofric House

Binley Road

Coventry

CV3 1JN

FIXED ASSETS

Tangible assets

4

202,760

206,639

CURRENT ASSETS

Stocks

157,000

19,755

Debtors

147,664

217,133

Cash at bank and in hand

148,217

326,517

452,881

563,405

CREDITORS

Amounts falling due within one year

205,190

357,798

NET CURRENT ASSETS

247,691

205,607

TOTAL ASSETS LESS CURRENT LIABILITIES

450,451

412,246

CREDITORS

Amounts falling due after more than one year

(46,088

)

(16,988

)

PROVISIONS FOR LIABILITIES

(31,734

)

(30,016

)

NET ASSETS

372,629

365,242

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

372,626

365,239

SHAREHOLDERS' FUNDS

372,629

365,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 25 September 2020 and were signed on its behalf by:

J D Armstrong - Director

1.	STATUTORY INFORMATION

Armstrong Industries 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 net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

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.

Improvements to property

-

Straight line over 10 years

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Research and development

Expenditure on research and development is written off in the year in which it is incurred. Development expenditure is also written off, expect where the directors are satisfied as to the technical, commercial, financial viability of individual projects. In such cases, the identifiable expenditure is deferred and amortised over the period during which the company is expected to benefit.

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.

Deferred taxation

Deferred taxation arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred taxation is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based upon current tax rates and laws.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2019 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2019

1,252,944

Additions

59,108

Disposals

(9,500

)

At 30 April 2020

1,302,552

DEPRECIATION

At 1 May 2019

1,046,305

Charge for year

59,543

Eliminated on disposal

(6,056

)

At 30 April 2020

1,099,792

NET BOOK VALUE

At 30 April 2020

202,760

At 30 April 2019

206,639

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

Totals

£

COST

At 1 May 2019

94,150

Additions

29,700

Reclassification/transfer

53,541

At 30 April 2020

177,391

DEPRECIATION

At 1 May 2019

46,439

Charge for year

20,224

Reclassification/transfer

10,039

At 30 April 2020

76,702

NET BOOK VALUE

At 30 April 2020

100,689

At 30 April 2019

47,711

5.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.20

30.4.19

£

£

Hire purchase contracts

82,005

38,322

The hire purchase creditors are secured upon the asset purchased under each individual agreement.

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J D Armstrong.