Metalcare Engineering Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02914385 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017

FOR

METALCARE ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J R McEntire

SECRETARY:

P R McEntire

REGISTERED OFFICE:

Crowe Clark Whitehill LLP

Riverside House

40-46 High Street

Maidstone

Kent

ME14 1JH

REGISTERED NUMBER:

02914385 (England and Wales)

ACCOUNTANTS:

Crowe Clark Whitehill LLP

4 Mount Ephraim Road

Tunbridge Wells

Kent

TN1 1EE

FIXED ASSETS

Tangible assets

4

11,667

2,118

CURRENT ASSETS

Debtors

5

39,144

49,261

Cash at bank

47,753

40,469

86,897

89,730

CREDITORS

Amounts falling due within one year

6

52,295

56,609

NET CURRENT ASSETS

34,602

33,121

TOTAL ASSETS LESS CURRENT LIABILITIES

46,269

35,239

CREDITORS

Amounts falling due after more than one year

7

(6,565

)

-

PROVISIONS FOR LIABILITIES

(2,100

)

-

NET ASSETS

37,604

35,239

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

37,504

35,139

SHAREHOLDERS' FUNDS

37,604

35,239

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 2 January 2018 and were signed by:

J R McEntire - Director

1.	STATUTORY INFORMATION

Metalcare 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.

This is the first year which the financial statements have been prepared under FRS 102. Refer to note 15 for an

explanation of the transition.

Going concern

Accounting standards require the director to consider the appropriateness of the going concern basis when

preparing the financial statements. The director confirms that he considers that the going concern basis remains

appropriate. The director believes that the Company has sufficient resources to continue in operational existence

for the foreseeable future. The director believe this to be the case as the Company has positive reserves, cash

balances and no significant long term liabilities. Thus he continues to adopt the going concern basis of

accounting in preparing the annual financial statements.

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.

Motor Vehicles- 25% straight line.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice

of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three

months from the date of acquisition and that are readily convertible to known amounts of cash with significant

risk of change in value.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties, loans to related parties and investments in non-puttable ordinary shares.

Creditors

Short term creditors are measured at the transaction price.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial

statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic

of Ireland":

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);

- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;

- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;

- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 May 2016

11,296

Additions

12,445

Disposals

(11,296

)

At 30 April 2017

12,445

DEPRECIATION

At 1 May 2016

9,178

Charge for year

2,896

Eliminated on disposal

(11,296

)

At 30 April 2017

778

NET BOOK VALUE

At 30 April 2017

11,667

At 30 April 2016

2,118

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

39,144

49,261

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

4,365

-

Trade creditors

7,243

6,964

Tax

8,024

12,084

Social security and other taxes

1,331

1,691

VAT

15,709

17,247

Other creditors

10,370

13,370

Accrued expenses

5,253

5,253

52,295

56,609

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

6,565

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

89

A Ordinary

£1

89

89

10

B Ordinary

£1

10

10

1

C Ordinary

£1

1

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 May 2016

35,139

Profit for the year

26,365

Dividends

(24,000

)

At 30 April 2017

37,504

10.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately

from those of the company in an independently administered fund. The pension cost charge represents

contributions payable by the company to the fund and amounted to £3,000 (2015: £3,000).

11.	RELATED PARTY DISCLOSURES

During the year, dividends of £24,000 (2016: £56,000) were paid to the director of the company and his family.

12.	FIRST YEAR ADOPTION

The policies applied under the entity's previous accounting framework are not materially different to FRS 102

and have not impacted on equity or profit or loss.