Thames Diesel Injection Parts Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02281123 (England and Wales)

Thames Diesel Injection Parts Limited

Unaudited Financial Statements

for the Year Ended 31 July 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

PT Dyer

SECRETARY:

Mrs JE Dyer

REGISTERED OFFICE:

1 Prospect Business Park

Langston Road

Loughton

Essex

IG10 3TR

REGISTERED NUMBER:

02281123 (England and Wales)

ACCOUNTANTS:

McMillan & Co LLP

Chartered Accountants

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

FIXED ASSETS

Tangible assets

4

133,598

140,396

CURRENT ASSETS

Stocks

1,090,986

909,973

Debtors

5

1,285,556

1,273,740

Cash at bank

1,373,735

938,440

3,750,277

3,122,153

CREDITORS

Amounts falling due within one year

6

827,434

619,898

NET CURRENT ASSETS

2,922,843

2,502,255

TOTAL ASSETS LESS CURRENT LIABILITIES

3,056,441

2,642,651

PROVISIONS FOR LIABILITIES

7

5,516

6,133

NET ASSETS

3,050,925

2,636,518

CAPITAL AND RESERVES

Called up share capital

8

4,115

4,115

Capital redemption reserve

1,600

1,600

Retained earnings

3,045,210

2,630,803

SHAREHOLDERS' FUNDS

3,050,925

2,636,518

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 24 November 2017 and were signed by:

PT Dyer - Director

1.	STATUTORY INFORMATION

Thames Diesel Injection Parts 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 sales of goods 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.

Long leasehold property

- 2% on cost

Equipment

- 25% and 33% on cost

Fixtures and fittings

- 20% on cost

Motor vehicles

- 25% on cost

Stocks

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

obsolete and slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

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 13 (2016 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

leasehold

Equipment

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 August 2016

190,064

149,606

60,795

18,945

419,410

Additions

-

-

495

11,113

11,608

Disposals

-

-

-

(13,995

)

(13,995

)

At 31 July 2017

190,064

149,606

61,290

16,063

417,023

DEPRECIATION

At 1 August 2016

81,699

122,189

59,680

15,446

279,014

Charge for year

3,800

10,204

796

2,731

17,531

Eliminated on disposal

-

-

-

(13,120

)

(13,120

)

At 31 July 2017

85,499

132,393

60,476

5,057

283,425

NET BOOK VALUE

At 31 July 2017

104,565

17,213

814

11,006

133,598

At 31 July 2016

108,365

27,417

1,115

3,499

140,396

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,150,154

1,139,973

Other debtors

106,711

103,439

Prepayments and accrued income

28,691

30,328

1,285,556

1,273,740

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

357,835

366,569

Corporation tax

154,266

57,829

Social security and other taxes

21,665

21,642

Other creditors

11,008

5,804

Accruals and deferred income

282,660

168,054

827,434

619,898

7.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Accelerated capital allowances

5,516

6,133

Deferred

tax

£

Balance at 1 August 2016

6,133

Credit to Income Statement during year

(617

)

Balance at 31 July 2017

5,516

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

4,115

Ordinary

£1

4,115

4,115

9.	RELATED PARTY DISCLOSURES

In the opinion of the directors the company is controlled by Mr K Bramley and Mr J Chaytor.

During the year the company had the following transactions with the companies listed below, which are

related to Thames Diesel Injection Parts Limited by virtue of common shareholders.

2017

2016

£

£

Tyne Electro Diesel Limited:

Sales

37,384

40,831

Purchases

-

-

Year end debtor balance

5,763

2,657

10.	FIRST YEAR ADOPTION

This is the first year in which the entity has adopted FRS102. The directors have reviewed in detail the

requirements of FRS102 and having considered all aspects of the entity's accounting policies, the

directors are able to confirm that there were no adjustments necessary to any comparative amounts as

a result of the transition to FRS102.