ARTISAN_SINTERED_PRODUCTS - Accounts

ARTISAN SINTERED PRODUCTS LIMITED - Company Information

Print Friendly Version

Company Registration No. 00916766 (England and Wales)

ARTISAN SINTERED PRODUCTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

ARTISAN SINTERED PRODUCTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ARTISAN SINTERED PRODUCTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

27,295

33,122

Current assets

Stocks

180,932

187,304

Debtors

413,713

402,297

Cash at bank and in hand

10,770

4,444

605,415

594,045

Creditors: amounts falling due within one year

(523,103)

(409,044)

Net current assets

82,312

185,001

Total assets less current liabilities

109,607

218,123

Provisions for liabilities

(4,268)

(5,172)

105,339

212,951

Capital and reserves

Called up share capital

2,625

Share premium account

2,375

Profit and loss account

100,339

207,951

Shareholders' funds

105,339

212,951

For the financial year ended 31 March 2015 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 11 December 2015

Mr I Wilkins

Director

Company Registration No. 00916766

ARTISAN SINTERED PRODUCTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

10-20% Straight Line

Fixtures, fittings & equipment

15-33% Straight Line

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Stock

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

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

ARTISAN SINTERED PRODUCTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2014

401,869

Additions

4,806

At 31 March 2015

406,675

Depreciation

At 1 April 2014

368,747

Charge for the year

10,633

At 31 March 2015

379,380

Net book value

At 31 March 2015

27,295

At 31 March 2014

33,122

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £169,772 (2014 - £158,200).

The overdraft is secured by a fixed and floating charge over the assets of the company.

Share capital

2015

2014

Allotted, called up and fully paid

2,625 Ordinary shares of £1 each

2,625

Ultimate parent company

The company is under the control of Hallamshire Hardmetal Products Limited, the company's parent company, which is in turn under the control of its parent company, Hardmetal Products Limited. Both companies are registered in England and Wales. The ultimate controlling party of Hardmetal Products Limited is I Wilkins, a director of the company who beneficially owns 58% of the issued share capital.