Amcol Engineering Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01030819 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

AMCOL ENGINEERING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G D Folwell

Mrs J M Folwell

SECRETARY:

Mr G D Folwell

REGISTERED OFFICE:

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

REGISTERED NUMBER:

01030819 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

FIXED ASSETS

Tangible assets

4

64,084

65,696

CURRENT ASSETS

Debtors

5

192,338

350,823

Cash at bank

525,682

396,548

718,020

747,371

CREDITORS

Amounts falling due within one year

6

215,012

350,182

NET CURRENT ASSETS

503,008

397,189

TOTAL ASSETS LESS CURRENT LIABILITIES

567,092

462,885

CREDITORS

Amounts falling due after more than one year

7

(488

)

-

PROVISIONS FOR LIABILITIES

(13,262

)

(13,017

)

NET ASSETS

553,342

449,868

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

553,242

449,768

SHAREHOLDERS' FUNDS

553,342

449,868

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 8 November 2017 and were signed on its behalf by:

Mr G D Folwell - Director

1.	STATUTORY INFORMATION

Amcol Engineering Ltd 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 invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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

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 6 (2016 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

166,621

3,095

86,226

8,490

264,432

Additions

13,800

-

25,271

1,370

40,441

Disposals

-

-

(23,330

)

-

(23,330

)

At 31 March 2017

180,421

3,095

88,167

9,860

281,543

DEPRECIATION

At 1 April 2016

137,325

3,095

51,679

6,637

198,736

Charge for year

18,645

-

22,042

1,366

42,053

Eliminated on disposal

-

-

(23,330

)

-

(23,330

)

At 31 March 2017

155,970

3,095

50,391

8,003

217,459

NET BOOK VALUE

At 31 March 2017

24,451

-

37,776

1,857

64,084

At 31 March 2016

29,296

-

34,547

1,853

65,696

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

25,271

At 31 March 2017

25,271

DEPRECIATION

Charge for year

6,318

At 31 March 2017

6,318

NET BOOK VALUE

At 31 March 2017

18,953

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

189,221

350,823

VAT

3,117

-

192,338

350,823

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

2,727

-

Trade creditors

64,916

176,285

Corporation tax

42,305

33,209

Taxation and social security

3,516

7,781

VAT

-

31,759

Other creditors

100,000

100,000

Director's current account

404

4

Accrued expenses

1,144

1,144

215,012

350,182

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

488

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

3,215

-

Assets held under the hire purchase agreement are secured against the debt.

9.	FIRST YEAR ADOPTION

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

Engineering Ltd 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".

The date of transition was 1 April 2015. The reported financial position and financial performance for the

previous period are not affected by the transition.