Tudor Roof Tile Co. Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01976344 (England and Wales)

TUDOR ROOF TILE CO. LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

J M St. J. Harris

B H Luckhurst

P J Lythgoe

SECRETARY:

P J Lythgoe

REGISTERED OFFICE:

Dengemarsh Road

Lydd

Romney Marsh

Kent

TN29 9JH

REGISTERED NUMBER:

01976344 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

82 High Street

Tenterden

Kent

TN30 6JG

FIXED ASSETS

Tangible assets

4

825,113

859,237

Investments

5

100

37,935

825,213

897,172

CURRENT ASSETS

Stocks

661,040

648,551

Debtors

6

395,403

370,719

Cash at bank and in hand

330,906

369,162

1,387,349

1,388,432

CREDITORS

Amounts falling due within one year

7

835,981

843,738

NET CURRENT ASSETS

551,368

544,694

TOTAL ASSETS LESS CURRENT LIABILITIES

1,376,581

1,441,866

PROVISIONS FOR LIABILITIES

18,741

22,597

NET ASSETS

1,357,840

1,419,269

CAPITAL AND RESERVES

Called up share capital

439,005

460,005

Share premium

78,375

78,375

Capital redemption reserve

64,000

43,000

Retained earnings

776,460

837,889

SHAREHOLDERS' FUNDS

1,357,840

1,419,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 June 2017 and were signed on its behalf by:

B H Luckhurst - Director

1.	STATUTORY INFORMATION

Tudor Roof Tile Co. Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements for the year ended 31 March 2017 are the first financial statements of

Tudor Roof Tile Co Limited that comply with FRS 102 The Financial Reporting Standard applicable

in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2015.

Preparation of consolidated financial statements

The financial statements contain information about Tudor Roof Tile Co. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its

estimated useful life.

Plant and machinery

- 33% on cost

- 12.5% on cost

- 8% on cost

Motor vehicles

- 25% on written down value

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less amounts written down to fair

value.

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value as follows:

Finished goods - Cost of direct materials and labour plus attributable overheads based on normal

level of activity.

Work in progress - Cost of direct materials and labour plus attributable overheads based on the

level of completion and the normal level of activity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income

or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

650,000

2,767,141

29,305

564

3,447,010

Additions

-

-

-

250

250

At 31 March 2017

650,000

2,767,141

29,305

814

3,447,260

DEPRECIATION

At 1 April 2016

-

2,577,462

10,074

237

2,587,773

Charge for year

-

29,296

4,807

271

34,374

At 31 March 2017

-

2,606,758

14,881

508

2,622,147

NET BOOK VALUE

At 31 March 2017

650,000

160,383

14,424

306

825,113

At 31 March 2016

650,000

189,679

19,231

327

859,237

In the opinion of the directors, one of whom is an experienced property investor, the carrying

value of the property shown above is a fair reflection of the open market value of the property at

31 March 2017.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

37,935

Impairments

(37,835

)

At 31 March 2017

100

NET BOOK VALUE

At 31 March 2017

100

At 31 March 2016

37,935

The investment in subsidiary undertakings has been written down to the recoverable amount. The

subsidiary has ceased trading, is collecting its debts and paying its creditors. The amount shown

reflects the net recoverable amount.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

350,758

311,851

Amounts owed by group undertakings

-

11,346

Other debtors

44,645

47,522

395,403

370,719

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

179,707

150,208

Amounts owed to group undertakings

2,419

-

Taxation and social security

77,000

106,894

Other creditors

576,855

586,636

835,981

843,738

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

6,504

8,874

Between one and five years

4,728

11,232

11,232

20,106

9.	RELATED PARTY DISCLOSURES

The company levied a management charge of £3,500 (£6,000 - 2016) to Natural Tiles Limited, a

subsidiary undertaking.

The above subsidiary borrowed monies from the company. The subsidiary repaid £11,346

(£24,000 - 2016) of the loan, together with the £3,500 management charge. The loan is interest

free. The balance due at the end of the year was £nil (£11,346 - 2016).

The company has received a loan from the subsidiary of £4,369 (£nil - 2016) and repaid £1,950

(£nil - 2016) of the loan during the year, which is interest free. The balance due at the end of the

year was £2,419 (£nil - 2016).

Management charges for services and related expenses were invoiced by Durrington Corporation

Limited, a company which is controlled by J M St. Harris, of £20,000 (2016 - £18,000) and Halden

Gate LLP, a which business controlled by B H Luckhurst of £20,000 (2016 - £18,000). The total

balance outstanding at the year end was £nil (2016 - £nil) for Durrington Corporation Limited and

a prepayment of £5,000 (2016 - £4,500) for Halden Gate LLP.

During the year, 21,000 shares of £1 each were purchased back from two shareholders at a total

consideration of £73,500.

10.	FIRST YEAR ADOPTION

Reconciliation of equity

There are no material adjustments to equity on transition to FRS 102.

Reconciliation of profit or loss for the year

There are no material adjustments to profit and loss in the year of transition to FRS 102.