Proplate Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05134503 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

PROPLATE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R C Lamb

SECRETARY:

Mrs K Lamb

REGISTERED OFFICE:

Clarence Street Chambers

32 Clarence Street

Southend-on-Sea

Essex

SS1 1BD

BUSINESS ADDRESS:

Unit 17

Armstrong Road

Manor Trading Estate

Benfleet

Essex

SS7 4PW

REGISTERED NUMBER:

05134503 (England and Wales)

ACCOUNTANTS:

A.R. Lee & Co.

Chartered Certified Accountants

Clarence Street Chambers

32 Clarence Street

Southend-on-Sea

Essex

SS1 1BD

FIXED ASSETS

Tangible assets

4

32,036

13,749

CURRENT ASSETS

Stocks

10,525

12,215

Debtors

5

109,832

97,947

Cash at bank and in hand

41,252

47,679

161,609

157,841

CREDITORS

Amounts falling due within one year

6

92,101

89,023

NET CURRENT ASSETS

69,508

68,818

TOTAL ASSETS LESS CURRENT LIABILITIES

101,544

82,567

CREDITORS

Amounts falling due after more than one year

7

(13,329

)

(1,688

)

PROVISIONS FOR LIABILITIES

(6,407

)

(2,750

)

NET ASSETS

81,808

78,129

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

81,807

78,128

SHAREHOLDERS' FUNDS

81,808

78,129

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 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.

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 director on 6 November 2017 and were signed by:

R C Lamb - Director

1.	STATUTORY INFORMATION

Proplate 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 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

-

25% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 12 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

19,770

3,611

15,188

6,628

45,197

Additions

28,434

-

-

732

29,166

At 31 March 2017

48,204

3,611

15,188

7,360

74,363

DEPRECIATION

At 1 April 2016

16,464

2,126

6,645

6,213

31,448

Charge for year

7,936

148

2,136

659

10,879

At 31 March 2017

24,400

2,274

8,781

6,872

42,327

NET BOOK VALUE

At 31 March 2017

23,804

1,337

6,407

488

32,036

At 31 March 2016

3,306

1,485

8,543

415

13,749

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

106,278

93,668

Other debtors

3,554

4,279

109,832

97,947

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

1,688

5,573

Trade creditors

14,621

10,635

Taxation and social security

52,446

55,923

Other creditors

23,346

16,892

92,101

89,023

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

-

1,688

Other creditors

13,329

-

13,329

1,688

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Hire purchase contracts

1,688

7,261

The hire purchase debts are secured by a fixed charge over the assets financed.

The bank overdraft is secured by the directors personal guarantee.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

1

Ordinary

£1

1

1

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to

£4,418.This amount consists of operating lease commitments payable over the next 12 months.

11.	POST BALANCE SHEET EVENTS

On 30th April 2017, part of the factory premises was destroyed by fire. This is subject to an insurance claim. The

company has rented additional space and continues to trade from the premises unaffected by the fire.