A B (Folding) Rollers Limited - Accounts to registrar (filleted) - small 18.2
A B (Folding) Rollers Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| A B (FOLDING) ROLLERS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2020 |
| A B (FOLDING) ROLLERS LIMITED (REGISTERED NUMBER: 10747947) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| A B (FOLDING) ROLLERS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants and |
| Chartered Tax Advisers |
| 71 Knowl Piece |
| Wilbury Way |
| Hitchin |
| Herts |
| SG4 0TY |
| A B (FOLDING) ROLLERS LIMITED (REGISTERED NUMBER: 10747947) |
| BALANCE SHEET |
| 31 MAY 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| PROVISIONS FOR LIABILITIES |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| 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 Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| A B (FOLDING) ROLLERS LIMITED (REGISTERED NUMBER: 10747947) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2020 |
| 1. | STATUTORY INFORMATION |
| A B (Folding) Rollers Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 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 |
| Plant and machinery | - |
| Government grants |
| Government grants given in respect of the Coronavirus Small Business Grant fund have been accounted for under the accrual model, recognised as other income against the period to which they relate. |
| During the year, £10,000 (2019 - £nil) has been recognised. There were no unfulfilled conditions or contingencies attached to the grant. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| Going concern |
| The directors are of the opinion that it is appropriate to prepare the accounts on the going concern basis, because they have confirmed their continued support for the company for the foreseeable future. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| A B (FOLDING) ROLLERS LIMITED (REGISTERED NUMBER: 10747947) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 June 2019 |
| Additions |
| At 31 May 2020 |
| DEPRECIATION |
| At 1 June 2019 |
| Charge for year |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 May 2020 and 31 May 2019: |
| 2020 | 2019 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest was paid on the overdrawn loan at the HMRC official rate of interest. |
| During the year, interest of £175 (2019 - £nil) was paid on the overdrawn loan. |
| 8. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £60,000 (2019 - £19,800) were paid to the directors . |
| A B (FOLDING) ROLLERS LIMITED (REGISTERED NUMBER: 10747947) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2020 |
| 8. | RELATED PARTY DISCLOSURES - continued |
| Rothwell Properties Limited |
| A company in which M Mallett is a director and shareholder. |
| Dividends paid to the related party were £6,667 (2019 - £2,200). |
| Amounts due to the related party at the balance sheet date is £14,200 (2019 - £7,523). |
| This loan is unsecured, there is no interest payable and there are no agreed repayment terms. |
| M Mallett |
| Company director. |
| At the year end, the director was owed £6,200 (2019 - £6,200). |
| J Belton |
| Company director. |
| At the year end, the director was owed £1,892 (2019 - £1,765). |