Foundry Trade Journal Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09126455 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2017

FOR

FOUNDRY TRADE JOURNAL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss L M Postle

SECRETARY:

A Turner

REGISTERED OFFICE:

Winton House

Lyonshall

Kington

Herefordshire

HR5 3JP

REGISTERED NUMBER:

09126455 (England and Wales)

ACCOUNTANTS:

Fields

2nd Floor

Landchard House

Victoria Street

West Bromwich

West Midlands

B70 8ER

BANKERS:

Barclays Bank Plc

1/3 Broad Street

Hereford

Herefordshire

HR4 9BH

FIXED ASSETS

Intangible assets

4

19,000

28,500

Tangible assets

5

3,300

4,400

22,300

32,900

CURRENT ASSETS

Stocks

275

55

Debtors

6

36,020

34,606

Cash at bank

50,890

54,528

87,185

89,189

CREDITORS

Amounts falling due within one year

7

73,663

105,408

NET CURRENT ASSETS/(LIABILITIES)

13,522

(16,219

)

TOTAL ASSETS LESS CURRENT LIABILITIES

35,822

16,681

PROVISIONS FOR LIABILITIES

627

880

NET ASSETS

35,195

15,801

CAPITAL AND RESERVES

Called up share capital

19

19

Retained earnings

35,176

15,782

SHAREHOLDERS' FUNDS

35,195

15,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 29th June 2018 and were signed by:

Miss L M Postle - Director

1.	STATUTORY INFORMATION

Foundry Trade Journal Ltd 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 financial statements are prepared in sterling which is the functional currency of the company and are rounded to the

nearest £1.

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.

Going Concern

The director believes that there are no material uncertainties related to events or conditions that may cast significant doubt

on the ability of the company to continue as a going concern and therefore the going concern basis remains appropriate in

the preparation of the financial statements.

Revenue recognition

Turnover is the amount derived from the sale of goods and services falling within the company's ordinary activities

(excluding Value Added Tax).

Turnover from the provision of goods is recognised when the risks and rewards of ownership of goods have been

transferred to the customer. The risks and rewards of ownership of goods are deemed to have been transferred when the

goods are shipped to, or are picked up by, the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Other intangible assets

Other intangible assets represent publication rights purchased in 2016 which last up to 30th September 2019, are being

amortised evenly over their estimated life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each

asset over its estimated useful life.

Fixtures and fittings - 15% on reducing balance

Computer equipment - 33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, 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 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.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small

company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st October 2016

and 30th September 2017

10,000

30,000

40,000

AMORTISATION

At 1st October 2016

4,000

7,500

11,500

Charge for year

2,000

7,500

9,500

At 30th September 2017

6,000

15,000

21,000

NET BOOK VALUE

At 30th September 2017

4,000

15,000

19,000

At 30th September 2016

6,000

22,500

28,500

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st October 2016

101

6,558

6,659

Additions

-

2,052

2,052

At 30th September 2017

101

8,610

8,711

DEPRECIATION

At 1st October 2016

19

2,240

2,259

Charge for year

15

3,137

3,152

At 30th September 2017

34

5,377

5,411

NET BOOK VALUE

At 30th September 2017

67

3,233

3,300

At 30th September 2016

82

4,318

4,400

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

35,168

34,141

Other debtors

852

465

36,020

34,606

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

16,737

25,789

Taxation and social security

10,574

8,140

Other creditors

46,352

71,479

73,663

105,408

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £3,500 (2016 - £49,930) were paid to the director .