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VULCATECH BELTING LTD - Company Information

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Vulcatech Belting Ltd

Registered Number:04811326

For the year ended 31 July 2017

England and Wales

Unaudited Financial Statements

For the year ended 31 July 2017

Vulcatech Belting Ltd

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 31 July 2017

Vulcatech Belting Ltd

Statement of Financial Position

Registered Number :

04811326

2016

2017

Notes

Fixed assets

Property, plant and equipment

304,454

234,096

Financial assets

11,230

315,684

234,096

Current assets

Inventories

374,689

214,997

Trade and other receivables

362,746

424,411

216,305

Cash and cash equivalents

337,531

976,939

953,740

Trade and other payables: amounts falling due within one year

(420,291)

(374,985)

533,449

601,954

Net current assets

Total assets less current liabilities

917,638

767,545

Trade and other payables: amounts falling due after more than

one year

(30,475)

(88,283)

(57,282)

(45,816)

Provisions for liabilities

772,073

Net assets

691,254

Capital and reserves

Called up share capital

1,000

Retained earnings

771,073

690,254

772,073

691,254

Shareholders' funds

For the year ended 31 July 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

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 proper 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 Section 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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.

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For the year ended 31 July 2017

Vulcatech Belting Ltd

Statement of Financial Position Continued

Mr Steven Andrew Pledger Director

These financial statements were approved and authorised for issue by the Board on 08 January 2018 and were signed by:

The notes form part of these financial statements

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For the year ended 31 July 2017

Vulcatech Belting Ltd

Notes to the Financial Statements

Statutory Information

Vulcatech Belting Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number

04811326.

Principal place of business:

29 Enterprise Way

Hardwick Narrows

King's Lynn

Norfolk

PE30 4LJ

Registered address:

49 Castle Rising Road

South Wootton

King's Lynn

Norfolk

PE30 3JA

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as modified by the revaluation of certain

assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Improvements to property

15% Straight line

Plant and machinery

15% Reducing balance

25% Reducing balance

Computer equipment

25% Reducing balance

Motor vehicles

15% Reducing balance

Fixtures and fittings

Inventories

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.

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For the year ended 31 July 2017

Vulcatech Belting Ltd

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer

equipment

Fixtures and

fittings

Motor vehicles

Plant and

machinery

Improvements

to property

Cost or valuation

At 01 August 2016

490,115

33,940

21,880

151,809

253,867

28,619

140,675

2,172

10,732

23,970

103,801

Additions

At 31 July 2017

28,619

175,779

32,612

36,112

630,790

357,668

Provision for depreciation and impairment

At 01 August 2016

256,019

24,471

12,774

59,333

135,838

23,603

Charge for year

70,317

2,910

2,976

29,112

33,275

2,044

At 31 July 2017

326,336

27,381

15,750

88,445

169,113

25,647

At 31 July 2017

Net book value

2,972

188,555

87,334

16,862

8,731

304,454

5,016

118,029

92,476

9,106

9,469

234,096

At 31 July 2016

3. Investments held as fixed assets

Shares in group and participating interests

Total

At 01 August 2016

11,230

Cost

At 31 July 2017

11,230

At 31 July 2017

Net book value

11,230

At 01 August 2016

11,230

4. Trade and other receivables

2016

2017

Trade debtors

408,644

347,886

Other debtors

15,767

14,860

362,746

424,411

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For the year ended 31 July 2017

Vulcatech Belting Ltd

Notes to the Financial Statements Continued

5. Trade and other payables: amounts falling due within one year

2016

2017

Trade creditors

184,609

165,886

Taxation and social security

80,676

113,670

Other creditors

109,700

140,735

374,985

420,291

6. Trade and other payables: amounts falling due after more than one year

2016

2017

Other creditors

88,283

30,475

7. Related party transactions

Name: Steven Pledger and Joanne Pledger

Relationship: Directors

Current Year: (50,029)

Previous year: (100,623)

Related party transactions

The debit movement of £50,594 is represented by drawings.

8. Guarantees and other financial commitments

The company operates a defined contribution pension scheme. The scheme and its assets are held by independent

managers. The pension charge represents contributions due from the company and amounted to £7,140 (2016 - £5,346).

Pension commitments

9. Average number of persons employed

During the year the average number of employees was 14 - (2016 : 13)

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