ARTISAN_SINTERED_PRODUCTS - Accounts

ARTISAN SINTERED PRODUCTS LIMITED - Company Information

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Company Registration No. 00916766 (England and Wales)

ARTISAN SINTERED PRODUCTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

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 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

33,694

27,295

Current assets

Stocks

115,072

180,932

Debtors

328,351

413,713

Cash at bank and in hand

6,779

10,770

450,202

605,415

Creditors: amounts falling due within one year

(431,785)

(523,103)

Net current assets

18,417

82,312

Total assets less current liabilities

52,111

109,607

Provisions for liabilities

(5,762)

(4,268)

46,349

105,339

Capital and reserves

Called up share capital

2,625

Share premium account

2,375

Profit and loss account

41,349

100,339

Shareholder's funds

46,349

105,339

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has 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 23 November 2016

Mr I Wilkins

Director

Company Registration No. 00916766

ARTISAN SINTERED PRODUCTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 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 January 2015).

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 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

406,675

Additions

11,265

At 31 March 2016

417,940

Depreciation

At 1 April 2015

379,380

Charge for the year

4,866

At 31 March 2016

384,246

Net book value

At 31 March 2016

33,694

At 31 March 2015

27,295

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £67,216 (2015 - £169,772).

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

Share capital

2016

2015

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.