Temple Mill Fabrications Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04297069

Abbreviated Unaudited Accounts For The Year Ended 30 September 2014

for

Temple Mill Fabrications Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

E Wright

J J Wright

S J Mills

REGISTERED OFFICE:

12-14 Percy Street

Rotherham

South Yorkshire

S65 1ED

REGISTERED NUMBER:

04297069

ACCOUNTANTS:

Andertons Liversidge & Co

Chartered Accountants

12-14 Percy Street

Rotherham

South Yorkshire

S65 1ED

BANKERS:

Natwest Bank Plc

5 Market Place

Chesterfield

Derbyshire

S40 1TJ

FIXED ASSETS

Tangible assets

2

1,297,313

882,887

CURRENT ASSETS

Stocks

28,300

40,842

Debtors

296,311

312,677

Cash at bank

30,860

130

355,471

353,649

CREDITORS

Amounts falling due within one year

3

621,414

516,952

NET CURRENT LIABILITIES

(265,943

)

(163,303

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,031,370

719,584

CREDITORS

Amounts falling due after more than one year

3

(436,545

)

(403,188

)

PROVISIONS FOR LIABILITIES

(6,487

)

(1,716

)

NET ASSETS

588,338

314,680

CAPITAL AND RESERVES

Called up share capital

4

2

2

Revaluation reserve

413,095

191,736

Profit and loss account

175,241

122,942

SHAREHOLDERS' FUNDS

588,338

314,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 June 2015 and were signed on its behalf by:

E Wright - Director

J J Wright - Director

S J Mills - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents the net value of work performed, excluding value added tax.

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.

Freehold property

-

2% on cost or valuation

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 the profit and loss account 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 the profit and loss account in the period to which they relate.

Government grants

Grants received towards the capital cost of fixed assets are recognised in the profit and loss account over the life

of the asset, in line with the depreciation policy.

Grants received towards revenue expenditure are recognised when the expenditure has been incurred.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2013

1,119,086

Additions

228,032

Revaluations

107,176

At 30 September 2014

1,454,294

DEPRECIATION

At 1 October 2013

236,199

Charge for year

34,964

Revaluation adjustments

(114,182

)

At 30 September 2014

156,981

NET BOOK VALUE

At 30 September 2014

1,297,313

At 30 September 2013

882,887

3.

CREDITORS

Creditors include an amount of £ 329,141 (2013 - £ 379,094 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

198,270

241,548

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2

5.	RELATED PARTY DISCLOSURES

Temple Mill Engineering Limited

During this year Temple Mill Fabrications Limited has supplied and purchased labour and steel at normal

commercial rates from Temple Mill Engineering Limited, a company controlled by Mr E Wright, a director of

this company.

During the year, Temple Mill Fabrications Limited has purchased goods and labour and been recharged for

expenses to the value of £63,270 (2013 £48,552), and sold goods and labour to the value of £444,667 (2013

£459,055), to Temple Mill Engineering Limited.

They have also charged Temple Mill Engineering £72,000 in respect of management charges (2013 £96,000).

Due to the trading activity between the two companies, at 30 September 2014, Temple Mill Engineering Limited

owe £65,319 (2013 £116,704) to Temple Mill Fabrications Limited, and Temple Mill Fabrications Limited owe

£17,965 (2013 £23,904) to Temple Mill Engineering Limited.

Temple Mill Engineering Limited have also lent monies to Temple Mill Fabrications Limited, and during the

year Temple Mill Fabrications Limited also purchased their leasehold property and its improvements at the tax

written down value of £171,940. Due to these movements at the 30 September 2014 Temple Mill Fabrications

Limited owed £254,640 to Temple Mill Engineering Limited (2013 £113,89).

E Wright

During the year the company provided a facility to Mr E Wright, a company director. During the year he

withdrew £47,570 (2013 £37,509) and made repayments of £55,200 (2013 £nil). Included in this is interest paid

to the company inline with HMRC requirements of £891 (2013 £353).

2014

2013

£

£

Amount due from related party at the balance sheet date

28,731

36,361

J J Wright

During the year the company provided a facility to Mr J Wright, a director of the company. During the year he

withdrew £22,352 (2013 £23,466) and made repayments of £22,000 (2013 £14,667). Included in this is interest

paid to the company inline with HMRC requirements of £351 (2013 £348).

2014

2013

£

£

Amount due from related party at the balance sheet date

11,643

11,291

S J Mills

During the year the company provided a facility to Mr S Mills a director of the company. During the year he

withdrew £2,969 (2013 £nil) and made repayments of £nil (2013 £nil).

2014

2013

£

£

Amount due from related party at the balance sheet date

2,969

-

Jaylec Technical Services Limited

During this year the company have purchased goods and labour amounting to £10,474 (2013 £15,102) from

Jaylec Technical Services Limited, a company controlled by Mr J Wright, these transactions were at normal

commercial rates.

At the year end Temple Mill Fabrications Limited owed £nil to Jaylec Technical Services Limited (2013 £5,040)

6.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr E Wright, the director of the company.