The VOC Spares Company Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 01220773 (England and Wales)

THE VOC SPARES COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

I Savage

T Kingham

A W Farrow

T Milbourn

M McKenzie

SECRETARY:

T Kingham

REGISTERED OFFICE:

Unit 3A Robinson Way

Telford Industrial Estate

Kettering

Northamptonshire

NN16 8PT

REGISTERED NUMBER:

01220773 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

The Gables

Bishop Meadow Road

Loughborough

Leicestershire

LE11 5RE

FIXED ASSETS

Intangible assets

4

-

200

Property, plant and equipment

5

8,090

10,113

8,090

10,313

CURRENT ASSETS

Inventories

287,487

288,668

Debtors

6

17,107

16,500

Cash at bank and in hand

139,651

103,124

444,245

408,292

CREDITORS

Amounts falling due within one year

7

45,619

58,394

NET CURRENT ASSETS

398,626

349,898

TOTAL ASSETS LESS CURRENT LIABILITIES

406,716

360,211

PROVISIONS FOR LIABILITIES

1,375

2,022

NET ASSETS

405,341

358,189

CAPITAL AND RESERVES

Called up share capital

8

58,997

58,997

Share premium

33,374

33,374

Retained earnings

312,970

265,818

SHAREHOLDERS' FUNDS

405,341

358,189

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 3 January 2018 and were signed on its behalf by:

A W Farrow - Director

1.	STATUTORY INFORMATION

The VOC Spares Company 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 (£).

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

The financial statements cover the individual entity.

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.

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards

(United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as

otherwise stated).

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Property, plant and equipment

Property, plant and equipment is stated at cost less depreciation. Depreciation is provided at rates calculated

to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

20% Reducing balance

Fixtures, fittings & equipment

20% Reducing balance

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, 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 statement of financial position date.

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.

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.

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.

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 4 (2016 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2016

and 31 October 2017

1,000

AMORTISATION

At 1 November 2016

800

Charge for year

200

At 31 October 2017

1,000

NET BOOK VALUE

At 31 October 2017

-

At 31 October 2016

200

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 November 2016

and 31 October 2017

67,727

DEPRECIATION

At 1 November 2016

57,614

Charge for year

2,023

At 31 October 2017

59,637

NET BOOK VALUE

At 31 October 2017

8,090

At 31 October 2016

10,113

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

14,486

12,718

Prepayments

2,621

3,782

17,107

16,500

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

19,025

25,886

Taxation

11,691

10,748

Other taxes and social security

1,363

1,236

VAT

1,562

2,152

Other creditors

22

22

Accrued expenses

11,956

18,350

45,619

58,394

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

58,997

Ordinary

£1

58,997

58,997

9.	OTHER FINANCIAL COMMITMENTS

The company has commitments due as follows:

2017

2016

£

£

Due in less than one year

875

875

875

875

10.	FIRST YEAR ADOPTION

There were no adjustments required on transition to FRS 102.