Vibrotech Reliability Services Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03483422 (England and Wales)

Financial Statements

for the Year Ended 31 December 2017

for

Vibrotech Reliability Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Blockley

T McManus

P A Blockley

SECRETARY:

P A Blockley

REGISTERED OFFICE:

Unit 12

Roseberry Court

STOKESLEY

North Yorkshire

TS9 5QT

REGISTERED NUMBER:

03483422 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

County Durham

DL3 7RT

FIXED ASSETS

Tangible assets

4

172,763

35,994

CURRENT ASSETS

Debtors

5

113,659

106,510

Cash at bank

83,992

104,871

197,651

211,381

CREDITORS

Amounts falling due within one year

6

101,874

113,389

NET CURRENT ASSETS

95,777

97,992

TOTAL ASSETS LESS CURRENT LIABILITIES

268,540

133,986

PROVISIONS FOR LIABILITIES

8

31,723

5,784

NET ASSETS

236,817

128,202

CAPITAL AND RESERVES

Called up share capital

9

6,000

6,000

Revaluation reserve

121,929

-

Capital redemption reserve

1

1

Retained earnings

108,887

122,201

SHAREHOLDERS' FUNDS

236,817

128,202

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

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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 1 February 2018 and were signed on its behalf by:

K Blockley - Director

T McManus - Director

1.	STATUTORY INFORMATION

Vibrotech Reliability Services 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 as modified by the revaluation of certain assets.

There were no material departures from that standard.

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 represents net invoiced sales of services, excluding value added tax.

Income Recognition

Income is recognised when a contract for the sale of goods or services is recognised as unconditional.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Office equipment

-

33% on cost

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

operating expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 6 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 January 2017

140,963

6,781

21,341

17,185

186,270

Disposals

(8,373

)

-

-

-

(8,373

)

Revaluations

39,421

-

-

-

39,421

At 31 December 2017

172,011

6,781

21,341

17,185

217,318

DEPRECIATION

At 1 January 2017

120,106

6,006

12,470

11,694

150,276

Charge for year

9,687

225

2,420

1,429

13,761

Eliminated on disposal

(8,373

)

-

-

-

(8,373

)

Revaluation adjustments

(111,109

)

-

-

-

(111,109

)

At 31 December 2017

10,311

6,231

14,890

13,123

44,555

NET BOOK VALUE

At 31 December 2017

161,700

550

6,451

4,062

172,763

At 31 December 2016

20,857

775

8,871

5,491

35,994

Cost or valuation at 31 December 2017 is represented by:

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Valuation in 2017

39,421

-

-

-

39,421

Cost

132,590

6,781

21,341

17,185

177,897

172,011

6,781

21,341

17,185

217,318

If plant and machinery had not been revalued they would have been included at the following historical cost:

2017

2016

£

£

Cost

132,590

140,693

Aggregate depreciation

121,420

120,106

Plant and machinery was valued on an open market basis on 31 December 2017 by the directors.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

108,384

104,177

Prepayments

5,275

2,333

113,659

106,510

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1,621

4,580

Corporation tax

46,041

47,621

Taxation and social security

46,977

49,173

Other creditors

4,709

8,959

Directors' current accounts

438

438

Accruals and deferred income

2,088

2,618

101,874

113,389

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

10,622

8,633

Between one and five years

16,123

1,577

26,745

10,210

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred taxation

31,723

5,784

Deferred

tax

£

Balance at 1 January 2017

5,784

Accelerated capital allowance

25,939

Balance at 31 December 2017

31,723

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

Value:

£

£

3,600

Ordinary

£1

3,600

3,900

600

TM Ordinary

£1

600

300

1,800

B Ordinary

£1

1,800

1,800

6,000

6,000

The ordinary, 'B' ordinary and TM ordinary shares shall constitute different classes of shares for the purposes of

the Companies Act 2006 but shall, save as otherwise provided for, confer upon the holders thereof the same

rights and rank pari passu in all respects except that the director shall be entitled to pay such different dividend

on the ordinary, 'B' ordinary and TM ordinary shares as they shall from time to time decide.

During the year a further 300 ordinary shares were redesignated as TM ordinary shares.

10.	RELATED PARTY DISCLOSURES

2017

2016

£

£

Amounts due to directors at balance sheet date

438

438

No interest was charged