Thomas Andrew Limited - Period Ending 2017-03-31
Thomas Andrew Limited - Period Ending 2017-03-31
Registration number:
Thomas Andrew Limited
for the Year Ended 31 March 2017
Thomas Andrew Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Thomas Andrew Limited
Company Information
Directors |
P A Ford M T Shore |
Company secretary |
M T Shore |
Registered office |
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Accountants |
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Page 1 |
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Thomas Andrew Limited
for the Year Ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Thomas Andrew Limited for the year ended 31 March 2017 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the Board of Directors of Thomas Andrew Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Thomas Andrew Limited and state those matters that we have agreed to state to the Board of Directors of Thomas Andrew Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thomas Andrew Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Thomas Andrew Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Thomas Andrew Limited. You consider that Thomas Andrew Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Thomas Andrew Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Millennium Way
Pride Park
Derby
Date:.............................
Page 2 |
Thomas Andrew Limited
(Registration number: 06469420)
Balance Sheet as at 31 March 2017
Note |
2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Page 3 |
Thomas Andrew Limited
(Registration number: 06469420)
Balance Sheet as at 31 March 2017
For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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P A Ford
Director
Page 4 |
Thomas Andrew Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
General information |
The company is a private company limited by share capital incorporated in England.
The address of the registered office is given in the company information on page 1 of these financial statements.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£).
Deferred Tax
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
33% straight line basis |
Office equipment |
25% straight line basis |
Motor vehicles |
25% straight line basis |
Page 5 |
Thomas Andrew Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Fixed Asset Investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.
Hire Purchase and Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation. Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 6 |
Thomas Andrew Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Tangible assets |
Office equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2016 |
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Additions |
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- |
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At 31 March 2017 |
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Depreciation |
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At 1 April 2016 |
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Charge for the year |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
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At 31 March 2016 |
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Leased assets
Included within the net book value of tangible fixed assets is £19,355 (2016 - £29,795) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £10,440 (2016 - £8,391).
Investments |
2017 |
2016 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2016 |
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Provision |
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Carrying amount |
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At 31 March 2017 |
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At 31 March 2016 |
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Page 7 |
Thomas Andrew Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Debtors |
2017 |
2016 |
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Amounts owed by group undertakings |
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Other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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- |
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Taxation and social security |
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Corporation tax |
102,538 |
60,129 |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2017 |
2016 |
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Non-current loans and borrowings |
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Finance lease liabilities and hire purchase contracts |
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2017 |
2016 |
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Current loans and borrowings |
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Finance lease liabilities and hire purchase contracts |
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Hire purchase contracts are secured against the assets which are being financed.
Page 8 |
Thomas Andrew Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Transition to FRS 102 |
The transition to FRS102 has not resulted in any changes between the amounts prepared previously under UK GAAP and those presented in compliance with FRS102.
Page 9 |