Apostles Castings Technology Ltd - Accounts to registrar - small 17.2
Apostles Castings Technology Ltd - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| FOR |
| APOSTLES CASTINGS TECHNOLOGY LTD |
| APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| APOSTLES CASTINGS TECHNOLOGY LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 2nd Floor |
| Landchard House |
| Victoria Street |
| West Bromwich |
| West Midlands |
| B70 8ER |
| BANKERS: |
| 4 High Street |
| Kington |
| Herefordshire |
| HR5 3AX |
| APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878) |
| BALANCE SHEET |
| 31ST MARCH 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878) |
| BALANCE SHEET - continued |
| 31ST MARCH 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| Apostles Castings Technology Ltd is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| This is the first year in which the financial statements have been prepared under FRS 102 (Section 1A). The last |
| financial statements under previous UK GAAP were for the year ended 31st March 2016 and the date of transition to |
| FRS 102 (Section 1A) was 1st April 2015. There were no restatements required upon transitioning as no significant |
| differences to existing accounting policies were noted. |
| The financial statements are prepared in sterling which is the functional currency of the company and are rounded to the |
| nearest £1. |
| Going concern |
| The director believes that there are no material uncertainties related to events or conditions that may cast significant |
| doubt on the ability of the company to continue as a going concern and therefore the going concern basis remains |
| appropriate in the preparation of the financial statements. |
| Significant judgements and estimates |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that |
| affect the reported amounts of assets and liabilities as at the reporting date and the amounts reported for turnover and |
| expenses during the period. The nature of estimating means that actual outcomes could differ from the original |
| estimates. |
| The principal accounting policies and the judgements and estimates that have the most significant effect on amounts |
| recognised in the financial statements are as stated below. |
| Revenue recognition |
| Turnover represents income derived from the company's ordinary activities, excluding value added tax. |
| Turnover from services is recognised when the service provided to the customer has been completed. |
| Goodwill |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| With few exceptions, the company only enters into basic financial instrument transactions that result in the recognition |
| of financial assets and liabilities such as cash, trade and other accounts receivable and payable and loans from banks |
| and other third parties, including related parties. |
| Basic financial instruments such as those above are recognised in the financial statements at amortised cost. |
| Any exception to the above are either immaterial or do not affect more than one accounting period. |
| 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. |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small |
| company. |
| Cash and cash equivalents |
| Cash is represented by cash at bank and on hand, and bank overdrafts. |
| Trade and other debtors |
| Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at |
| the undiscounted amount expected to be received, net of impairment. |
| Trade and other creditors |
| Trade and other creditors are initially recognised at the transaction price and thereafter stated at amortised cost using |
| the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
| Related parties |
| For the purposes of these financial statements, a party is considered to be related to the Company if: |
| (i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the company or |
| exercise significant influence over the company in making financial and operating policy decisions, or has joint control |
| over the company. |
| (ii) the company and the party are subject to common control. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| 5. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1st April 2016 |
| and 31st March 2017 |
| AMORTISATION |
| At 1st April 2016 |
| Amortisation for year |
| At 31st March 2017 |
| NET BOOK VALUE |
| At 31st March 2017 |
| At 31st March 2016 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1st April 2016 |
| Additions |
| At 31st March 2017 |
| DEPRECIATION |
| At 1st April 2016 |
| Charge for year |
| At 31st March 2017 |
| NET BOOK VALUE |
| At 31st March 2017 |
| At 31st March 2016 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2017 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £10,000 (2016 - £19,950) were paid to the director . |
| A Turner |
| A director and shareholder of the company |
| A Turner has provided finance to the company by way on an interest free loan. |
| 2017 | 2016 |
| £ | £ |
| Amount due to related party at the balance sheet date | 10,092 | 32,101 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is A Turner. |