Boston Matthews Machinery Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 01815679 (England and Wales)

BOSTON MATTHEWS MACHINERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C T Brookes

R A Brookes

SECRETARY:

S J Brookes

REGISTERED OFFICE:

Navigation Road

Diglis

Worcester

Worcestershire

WR5 3DE

REGISTERED NUMBER:

01815679 (England and Wales)

ACCOUNTANTS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

175,136

179,279

Investments

4

100

100

175,236

179,379

CURRENT ASSETS

Debtors

5

201,178

248,404

Cash at bank

652

593

201,830

248,997

CREDITORS

Amounts falling due within one year

6

14,708

27,349

NET CURRENT ASSETS

187,122

221,648

TOTAL ASSETS LESS CURRENT LIABILITIES

362,358

401,027

ACCRUALS AND DEFERRED INCOME

9

-

2,886

NET ASSETS

362,358

398,141

CAPITAL AND RESERVES

Called up share capital

10

60,000

60,000

Capital redemption reserve

11

15,000

15,000

Profit and loss account

11

287,358

323,141

SHAREHOLDERS' FUNDS

362,358

398,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 2 May 2017 and were signed on its behalf by:

C T Brookes - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Boston Matthews Machinery Limited as an

individual company and do not contain consolidated financial information as the parent of a group. The

company has taken the option under Section 398 of the Companies Act 2006 not to prepare

consolidated financial statements.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was

amortised evenly over its estimated useful life of ten years.

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.

Long leasehold

-

2% on cost

Plant and machinery

-

20% on reducing balance

Office equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

50% on reducing balance

Deferred tax

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

the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

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.

2.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2015

and 30 September 2016

25,000

AMORTISATION

At 1 October 2015

and 30 September 2016

25,000

NET BOOK VALUE

At 30 September 2016

-

At 30 September 2015

-

3.	TANGIBLE FIXED ASSETS

Long

Plant and

Office

leasehold

machinery

equipment

£

£

£

COST

At 1 October 2015

277,783

568,083

153,261

Additions

-

14,400

-

At 30 September 2016

277,783

582,483

153,261

DEPRECIATION

At 1 October 2015

139,145

547,747

145,583

Charge for year

4,967

6,947

1,920

At 30 September 2016

144,112

554,694

147,503

NET BOOK VALUE

At 30 September 2016

133,671

27,789

5,758

At 30 September 2015

138,638

20,336

7,678

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2015

23,892

228,579

1,251,598

Additions

-

-

14,400

At 30 September 2016

23,892

228,579

1,265,998

DEPRECIATION

At 1 October 2015

17,475

222,369

1,072,319

Charge for year

1,604

3,105

18,543

At 30 September 2016

19,079

225,474

1,090,862

NET BOOK VALUE

At 30 September 2016

4,813

3,105

175,136

At 30 September 2015

6,417

6,210

179,279

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 October 2015

and 30 September 2016

15,000

DEPRECIATION

At 1 October 2015

8,671

Charge for year

1,582

At 30 September 2016

10,253

NET BOOK VALUE

At 30 September 2016

4,747

At 30 September 2015

6,329

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2015

and 30 September 2016

100

NET BOOK VALUE

At 30 September 2016

100

At 30 September 2015

100

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Boston Munchy Limited

Nature of business: manufacture of plastic extrusion machinery

%

Class of shares:

holding

Ordinary

100.00

30.9.16

30.9.15

£

£

Aggregate capital and reserves

192,407

73,874

Profit for the year

118,533

65,247

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.16

30.9.15

£

£

Amounts owed by group undertakings

200,365

247,591

Other debtors

813

813

201,178

248,404

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.16

30.9.15

£

£

Hire purchase contracts

-

4,641

Other creditors

14,708

22,708

14,708

27,349

7.

LOANS

An analysis of the maturity of loans is given below:

30.9.16

30.9.15

£

£

8.	OPERATING LEASE COMMITMENTS

The following operating lease payments are committed to be paid within one year:

30.9.16

30.9.15

£

£

Expiring:

In more than five years

15,200

15,200

9.	ACCRUALS AND DEFERRED INCOME

30.9.16

30.9.15

£

£

Deferred government grants

-

2,886

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.16

30.9.15

value:

£

£

60,000

Ordinary

£1

60,000

60,000

11.

RESERVES

Profit

Capital

and loss

redemption

account

reserve

Totals

£

£

£

At 1 October 2015

323,141

15,000

338,141

Profit for the year

4,217

4,217

Dividends

(40,000

)

(40,000

)

At 30 September 2016

287,358

15,000

302,358

12.	RELATED PARTY DISCLOSURES

Boston Munchy Limited

Subsidiary company

Management charge of £23,543 received during the year (2015 £20,960). Dividend of £nil received

during the year (2015 £120,000).

30.9.16

30.9.15

£

£

Amount due from related party at the balance sheet date

200,365

247,591

C T Brookes

Director

During the year was paid dividends by the company totalling £10,000 (2015 £12,000).

30.9.16

30.9.15

£

£

Amount due to related party at the balance sheet date

6,042

8,042

Mrs V Brookes

Wife of C T Brookes

During the year was paid dividends by the company totalling £10,000 (2015 £12,000).

30.9.16

30.9.15

£

£

Amount due to related party at the balance sheet date

8,222

10,222

S J Brookes

Son of C T Brookes

During the year was paid dividends by the company totalling £10,000 (2015 £12,000).

30.9.16

30.9.15

£

£

Amount due to related party at the balance sheet date

222

2,222

R A Brookes

Director

During the year was paid dividends by the company totalling £10,000 (2015 £12,000).

30.9.16

30.9.15

£

£

Amount due to related party at the balance sheet date

222

2,222

13.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party of the company due to the diversified shareholding.