Cast Tec Limited - Accounts to registrar (filleted) - small 18.1
Cast Tec Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 September 2017 |
| for |
| Cast Tec Limited |
| Cast Tec Limited (Registered number: 04537351) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Cast Tec Limited |
| Company Information |
| for the Year Ended 30 September 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Kepier House |
| Belmont Business Park |
| Durham |
| DH1 1TW |
| Cast Tec Limited (Registered number: 04537351) |
| Balance Sheet |
| 30 September 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Cast Tec Limited (Registered number: 04537351) |
| Balance Sheet - continued |
| 30 September 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Cast Tec Limited (Registered number: 04537351) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2017 |
| 1. | STATUTORY INFORMATION |
| Cast Tec Limited is a |
| 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. |
| There were no material departures from that standard. |
| These financial statements for the year ended 30 September 2017 are the first financial statements that comply |
| with FRS 102 Section 1A small entities. The date of transition is 1 October 2015. |
| The principal accounting policies adopted in the preparation of the financial statements are set out below and |
| have remained unchanged from the previous year, and also have been consistently applied within the same |
| accounts. |
| 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 |
| Improvements to property | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in |
| bringing stocks to their present location and condition |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss. |
| 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. |
| 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. |
| Cast Tec Limited (Registered number: 04537351) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Invoice discounting facility |
| The invoice discounting facility represents amounts received in respect of financed debts. There is full recourse |
| to the company for losses on debts, and so the financed debts continue to be recognised on the balance sheet. |
| Interest and other charges relating to invoice financing are recognised in the profit and loss account over the |
| relevant period. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | and | Motor | Computer |
| property | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 October 2016 |
| Additions |
| At 30 September 2017 |
| DEPRECIATION |
| At 1 October 2016 |
| Charge for year |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| Cast Tec Limited (Registered number: 04537351) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 October 2016 |
| Transfer to ownership | (19,995 | ) |
| At 30 September 2017 |
| DEPRECIATION |
| At 1 October 2016 |
| Charge for year |
| Transfer to ownership | (13,493 | ) |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Amounts owed to associates | 122,897 | 67,959 |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Invoice discounting | 348,164 | 320,056 |
| Directors' loan accounts | 23,091 | 8,829 |
| Accrued expenses |
| Cast Tec Limited (Registered number: 04537351) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2017 | 2016 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating |
| leases |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank overdrafts |
| Hire purchase contracts | 63,191 | 91,362 |
| Other Loans | 223,592 | 228,979 |
| Invoice discounting | 348,164 | 320,056 |
| Hire purchase contracts are secured on the assets to which they relate. |
| Bank overdraft is secured on a fixed and floating charge over the assets of the company. |
| Other loans are secured over the assets to which they relate. |
| Invoice discounting creditors are secured over all debt items to which they relate. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | 15,272 | 21,627 |
| Cast Tec Limited (Registered number: 04537351) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 10. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2016 |
| Credit to Profit and Loss | (6,355 | ) |
| Account during year |
| Balance at 30 September 2017 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| "A" Ordinary | £1 | 5,000 | 5,000 |
| "B" Ordinary | £1 | 5,000 | 5,000 |
| 10,000 | 10,000 |
| 12. | RELATED PARTY DISCLOSURES |
| There were no related party transactions other than those concluded under normal market conditions other than |
| those detailed below: |
| 2017 | 2016 |
| £ | £ |
| Amounts owed to the director | 23,091 | 8,829 |
| No interest was charged. |
| 13. | FIRST YEAR ADOPTION |
| The company has adopted FRS 102 Section 1A for the year ended 30 September 2017. No adjustments were |
| required upon transition. |