Elastomer Engineering Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 00880807 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

Elastomer Engineering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr J C Gardner

Dr C L Gardner

Dr E J Gardner

Mrs C J V Dean

Mr C L Gardner

Mr M W Gardner

Mr J E Gardner

SECRETARY:

Mrs J M Gardner

REGISTERED OFFICE:

39 Carlton Road

Lymm

Cheshire

WA13 9RF

REGISTERED NUMBER:

00880807 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

173,003

196,884

173,004

196,885

CURRENT ASSETS

Stocks

6

120,141

100,885

Debtors

7

216,069

166,906

Cash at bank and in hand

146,671

123,349

482,881

391,140

CREDITORS

Amounts falling due within one year

8

157,649

157,254

NET CURRENT ASSETS

325,232

233,886

TOTAL ASSETS LESS CURRENT LIABILITIES

498,236

430,771

PROVISIONS FOR LIABILITIES

15,578

19,244

NET ASSETS

482,658

411,527

CAPITAL AND RESERVES

Called up share capital

126,000

126,000

Retained earnings

356,658

285,527

SHAREHOLDERS' FUNDS

482,658

411,527

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 16 September 2017 and were signed on its behalf by:

Dr J C Gardner - Director

Mr J E Gardner - Director

1.	STATUTORY INFORMATION

Elastomer Engineering 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.

Turnover

Turnover represents net invoice value of goods provided, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

life.

Motor vehicles

25% on reducing balance

Plant and machinery

20% on reducing balance

Fixtures and fittings

25% on reducing balance

Tools

10% on reducing balance

Moulds

33.33% on reducing balance

Freehold property

2% on cost

Stocks

Stocks and work in progress are stated at the lower of cost and net realisable value. Net realisable value is based

on estimated selling price, less further costs expected to be incurred to completion and disposal. Provision is

made for obsolete, slow moving or defective items as appropriate.

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.

Pensions

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.

Intangible fixed assets

Patents, trademarks, licences and concessions are included at cost and amortised in equal annual instalments over

their estimated useful economic life. Provision is made for any impairment.

Going concern

The company's financial statements for the year ended 30 June 2017 have been prepared on a going concern

basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has

adequate resources to continue in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2016

and 30 June 2017

679

AMORTISATION

At 1 July 2016

and 30 June 2017

678

NET BOOK VALUE

At 30 June 2017

1

At 30 June 2016

1

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

Tools

machinery

£

£

£

COST

At 1 July 2016

227,556

8,471

1,084,667

Additions

-

-

3,540

At 30 June 2017

227,556

8,471

1,088,207

DEPRECIATION

At 1 July 2016

132,458

8,337

1,007,151

Charge for year

4,551

14

15,975

At 30 June 2017

137,009

8,351

1,023,126

NET BOOK VALUE

At 30 June 2017

90,547

120

65,081

At 30 June 2016

95,098

134

77,516

Fixtures

and

fittings

Moulds

Totals

£

£

£

COST

At 1 July 2016

132,052

50,546

1,503,292

Additions

-

-

3,540

At 30 June 2017

132,052

50,546

1,506,832

DEPRECIATION

At 1 July 2016

118,080

40,382

1,306,408

Charge for year

3,493

3,388

27,421

At 30 June 2017

121,573

43,770

1,333,829

NET BOOK VALUE

At 30 June 2017

10,479

6,776

173,003

At 30 June 2016

13,972

10,164

196,884

6.

STOCKS

2017

2016

£

£

Raw materials

59,757

47,861

Finished goods

60,384

53,024

120,141

100,885

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

198,494

144,910

Other debtors

17,575

21,996

216,069

166,906

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

63,375

94,401

Taxation and social security

85,674

51,791

Other creditors

8,600

11,062

157,649

157,254

9.	RELATED PARTY DISCLOSURES

During the year the company paid dividends amounting to £50,000 to its shareholders.