Montons Steel Ltd,Ltd - AccountsLtd - Accounts

Montons Steel Ltd,Ltd - AccountsLtd - Accounts

MONTONS STEEL LTD - Company Information

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2017-01-01 06278173 2017-12-31 06278173 2017-01-01 2017-12-31 06278173 2016-12-31 06278173 2016-01-01 2016-12-31 06278173 uk-core:WithinOneYear 2016-12-31 06278173 uk-core:WithinOneYear 2017-12-31 06278173 uk-core:ShareCapital 2017-12-31 06278173 uk-core:ShareCapital 2016-12-31 06278173 uk-core:RetainedEarningsAccumulatedLosses 2017-12-31 06278173 uk-core:RetainedEarningsAccumulatedLosses 2016-12-31 06278173 uk-bus:Director1 2017-01-01 2017-12-31 06278173 uk-core:NetGoodwill 2017-01-01 2017-12-31 06278173 uk-core:PlantMachinery 2017-01-01 2017-12-31 06278173 uk-core:Goodwill 2016-12-31 06278173 uk-core:Goodwill 2017-12-31 iso4217:GBP 06278173 uk-bus:AuditExemptWithAccountantsReport 2017-01-01 2017-12-31 06278173 uk-bus:FRS102 2017-01-01 2017-12-31 06278173 uk-bus:FullAccounts 2017-01-01 2017-12-31 06278173 uk-bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31
Montons Steel Ltd
Registered Number:06278173
For the year ended 31 December 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2017
Montons Steel Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 December 2017
Montons Steel Ltd
Statement of Financial Position
Registered Number :
06278173
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
54,024
5,365
3
54,024
5,365
Current assets
Inventories
23,043
33,397
4
Trade and other receivables
94,828
90,577
5
44,778
Cash and cash equivalents
37,993
161,967
162,649
Trade and other payables: amounts falling due within one
year
(133,591)
(155,962)
6
29,058
6,005
Net current assets
Total assets less current liabilities
60,029
34,423
(10,400)
(662)
Provisions for liabilities
49,629
Net assets
33,761
Capital and reserves
Called up share capital
1
1
Retained earnings
49,628
33,760
49,629
33,761
Shareholders' funds
For the year ended 31 December 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 December 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.
Mr Ian Potter Director
These financial statements were approved and authorised for issue by the Board on 30 June 2018 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 December 2017
Montons Steel Ltd
Notes to the Financial Statements
Statutory Information
Montons Steel Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 06278173.
Principal place of business:
Unit 8 Cliffe End Business Park
Cliffe End Mills, Dale Street
Longwood
Huddersfield
HD3 4TG
Registered address:
5a Station Terrace
East Boldon
Tyne & Wear
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.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 5 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historic cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve. 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:
Plant and machinery
20% Reducing balance
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.
2 of 4
5
For the year ended 31 December 2017
Montons Steel Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 January 2017
5,500
At 31 December 2017
5,500
Amortisation
At 01 January 2017
5,500
At 31 December 2017
5,500
Net book value
At 31 December 2017
-
At 31 December 2016
-
3. Property, plant and equipment
Plant and
machinery
£
Cost or
valuation
At 01 January 2017
38,351
50,000
Additions
At 31 December 2017
88,351
Provision for depreciation and impairment
At 01 January 2017
32,986
Charge for year
1,341
At 31 December 2017
34,327
At 31 December 2017
Net book value
54,024
At 31 December 2016
5,365
4. Inventories
2016
2017
£
£
Stocks
33,397
23,043
3 of 4
6
For the year ended 31 December 2017
Montons Steel Ltd
Notes to the Financial Statements Continued
5. Trade and other receivables
2016
2017
£
£
Trade debtors
88,825
93,076
Other debtors
1,752
1,752
94,828
90,577
6. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
109,206
70,179
Taxation and social security
4,430
18,086
Other creditors
42,326
45,326
155,962
133,591
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