Architen Landrell Manufacturing Limited Filleted accounts for Companies House (small and micro)

ARCHITEN LANDRELL MANUFACTURING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01759047

ARCHITEN LANDRELL MANUFACTURING LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 April 2020

ARCHITEN LANDRELL MANUFACTURING LIMITED

FINANCIAL STATEMENTS

Year ended 30 April 2020

CONTENTS	PAGE

Balance sheet	1

Notes to the financial statements	3

ARCHITEN LANDRELL MANUFACTURING LIMITED

BALANCE SHEET

30 April 2020

	2020	2019
Note	£	£

FIXED ASSETS

Intangible assets	5	211,549	–
Tangible assets	6	211,408	257,166
Investments	7	5,379	5,379
		---------	---------
		428,336	262,545

CURRENT ASSETS

Stocks		114,604	98,065
Debtors	8	1,145,105	681,868
Cash at bank and in hand		1,507,630	363,163
		------------	------------
		2,767,339	1,143,096

CREDITORS: amounts falling due within one year	9	( 1,295,853)	( 535,357)
		------------	------------
NET CURRENT ASSETS		1,471,486	607,739
		------------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		1,899,822	870,284

CREDITORS: amounts falling due after more than one year	10	( 21,473)	( 32,707)

PROVISIONS	( 36,020)	( 30,369)
	------------	---------
NET ASSETS	1,842,329	807,208
	------------	---------

CAPITAL AND RESERVES

Called up share capital	4,800	4,800
Capital redemption reserve	135,200	135,200
Profit and loss account	1,702,329	667,208
	------------	---------
SHAREHOLDERS FUNDS	1,842,329	807,208
	------------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

ARCHITEN LANDRELL MANUFACTURING LIMITED

BALANCE SHEET (continued)

30 April 2020

These financial statements were approved by the board of directors and authorised for issue on 27 April 2021 , and are signed on behalf of the board by:

Mr C L Rowell
Director

Company registration number: 01759047

ARCHITEN LANDRELL MANUFACTURING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

Year ended 30 April 2020

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Station Road, Chepstow, Monmouthshire, NP16 5PF.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Other intangible assets	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	10% to 15% straight line
Fixtures and fittings	-	25% straight line
Motor vehicles	-	25% straight line
Short leasehold property improvements	-	7 years straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

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.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 25 (2019: 24 ).

5. INTANGIBLE ASSETS

	Development costs
	£
Cost
At 1 May 2019	3,500
Additions	235,055
	---------
At 30 April 2020	238,555
	---------
Amortisation
At 1 May 2019	3,500
Charge for the year	23,506
	---------
At 30 April 2020	27,006
	---------
Carrying amount
At 30 April 2020	211,549
	---------
At 30 April 2019	–
	---------

6. TANGIBLE ASSETS

	Plant and machinery	Fixtures and fittings	Motor vehicles	Leasehold property improvements	Total
	£	£	£	£	£
Cost
At 1 May 2019	1,097,775	491,503	70,690	87,333	1,747,301
Additions	–	19,756	–	2,438	22,194
Disposals	( 167,562)	–	( 25,000)	–	( 192,562)
	------------	---------	--------	--------	------------
At 30 April 2020	930,213	511,259	45,690	89,771	1,576,933
	------------	---------	--------	--------	------------
Depreciation
At 1 May 2019	993,412	476,724	16,824	3,174	1,490,134
Charge for the year	21,856	9,867	17,673	12,825	62,221
Disposals	( 167,563)	–	( 19,267)	–	( 186,830)
	------------	---------	--------	--------	------------
At 30 April 2020	847,705	486,591	15,230	15,999	1,365,525
	------------	---------	--------	--------	------------
Carrying amount
At 30 April 2020	82,508	24,668	30,460	73,772	211,408
	------------	---------	--------	--------	------------
At 30 April 2019	104,363	14,779	53,866	84,159	257,167
	------------	---------	--------	--------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 30 April 2020	73,460
	--------
At 30 April 2019	41,883
	--------

7. INVESTMENTS

	Shares in group undertakings
	£
Cost
At 1 May 2019 and 30 April 2020	5,379
	-------
Impairment
At 1 May 2019 and 30 April 2020	–
	-------

Carrying amount
At 30 April 2020	5,379
	-------
At 30 April 2019	5,379
	-------

8. DEBTORS

	2020	2019
	£	£
Trade debtors	716,459	470,275
Amounts owed by group undertakings and undertakings in which the company has a participating interest	55,004	–
Other debtors	373,642	211,593
	------------	---------
	1,145,105	681,868
	------------	---------

9. CREDITORS: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	104,022	142,068
Amounts owed to group undertakings and undertakings in which the company has a participating interest	11,005	11,005
Corporation tax	–	8,962
Social security and other taxes	379,198	121,843
Other creditors	801,628	251,479
	------------	---------
	1,295,853	535,357
	------------	---------

The above includes secured creditors of £10,288 (2019 - £10,480).

10. CREDITORS: amounts falling due after more than one year

	2020	2019
	£	£
Other creditors	21,473	32,707
	--------	--------

The above includes secured creditors of £21,473 (2019 - £32,707).

11. OPERATING LEASES

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2020	2019
	£	£
Not later than 1 year	32,520	31,417
Later than 1 year and not later than 5 years	123,780	120,000
Later than 5 years	30,000	60,000
	---------	---------
	186,300	211,417
	---------	---------

12. RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions between wholly owned members of the same group. Included within other creditors is £119,286 (2019 - £74,687) due to directors.