Bonut Engineering Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00883368 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

BONUT ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

Mr B Travis

Ms A Ditchfield

SECRETARY:

Ms A Ditchfield

REGISTERED OFFICE:

Unit 12, Latham Close

Bredbury Park Industrial Estate

Bredbury

Stockport

Cheshire

SK6 2SD

REGISTERED NUMBER:

00883368 (England and Wales)

ACCOUNTANTS:

Allens Accountants Limited

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Intangible assets

4

18,130

25,557

Tangible assets

5

223,203

140,190

241,333

165,747

CURRENT ASSETS

Stocks

175,199

167,416

Debtors

6

139,304

130,173

Cash at bank and in hand

72,023

60,020

386,526

357,609

CREDITORS

Amounts falling due within one year

7

157,404

124,519

NET CURRENT ASSETS

229,122

233,090

TOTAL ASSETS LESS CURRENT LIABILITIES

470,455

398,837

CREDITORS

Amounts falling due after more than one year

8

(485,311

)

(475,629

)

PROVISIONS FOR LIABILITIES

10

(4,628

)

-

NET LIABILITIES

(19,484

)

(76,792

)

CAPITAL AND RESERVES

Called up share capital

2,452

2,452

Share premium

590

590

Retained earnings

(22,526

)

(79,834

)

SHAREHOLDERS' FUNDS

(19,484

)

(76,792

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 16 July 2018 and were signed on its behalf by:

Mr B Travis - Director

Ms A Ditchfield - Director

1.	STATUTORY INFORMATION

Bonut Engineering 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.

Going concern

The directors have reviewed the company's financial position to ensure that it has adequate resources to continue in

operational existence for the foreseeable future. As an essential part of this review, the directors have considered the

trading results of the company subsequent to the year end by preparing formal projections covering in excess of twelve

months after the date of approval of these financial statements.

Taking the projected profitability into account, along with the continued support of the company's parent undertaking and

also the ultimate controlling party, the directors consider it to be appropriate to adopt the going concern basis in preparing

the financial statements.

The accounts do not therefore reflect any adjustments that would be required should the existing financing arrangements be

withdrawn, not be sufficient at current levels or at future trading levels being significantly different to that projected by the

directors.

Turnover

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

added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on reducing balance, 15% on reducing balance and 5% on reducing balance

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.

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 15 (2017 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

74,265

AMORTISATION

At 1 April 2017

48,708

Charge for year

7,427

At 31 March 2018

56,135

NET BOOK VALUE

At 31 March 2018

18,130

At 31 March 2017

25,557

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

232,979

Additions

97,900

Disposals

(14,250

)

At 31 March 2018

316,629

DEPRECIATION

At 1 April 2017

92,789

Charge for year

9,311

Eliminated on disposal

(8,674

)

At 31 March 2018

93,426

NET BOOK VALUE

At 31 March 2018

223,203

At 31 March 2017

140,190

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2017

33,110

Additions

93,626

Transfer to ownership

(33,110

)

At 31 March 2018

93,626

DEPRECIATION

At 1 April 2017

1,156

Charge for year

1,951

Transfer to ownership

(1,156

)

At 31 March 2018

1,951

NET BOOK VALUE

At 31 March 2018

91,675

At 31 March 2017

31,954

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Trade debtors

137,448

116,556

Other debtors

1,856

13,617

139,304

130,173

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Hire purchase contracts

12,579

4,500

Trade creditors

82,034

68,415

Taxation and social security

25,350

21,384

Other creditors

37,441

30,220

157,404

124,519

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/18

31/3/17

£

£

Hire purchase contracts

55,393

-

Amounts owed to group undertakings

395,132

393,068

Other creditors

34,786

82,561

485,311

475,629

9.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/18

31/3/17

£

£

Hire purchase contracts

67,972

4,500

The hire purchase liabilities are secured against the assets to which they relate.

10.	PROVISIONS FOR LIABILITIES

31/3/18

£

Deferred tax

4,628

Deferred

tax

£

Balance at 1 April 2017

(11,779

)

Provided during year

16,407

Balance at 31 March 2018

4,628

11.	RELATED PARTY DISCLOSURES

During the year, the company was charged management charges of £45,000 (2017: £5,000) and rent of £18,000 (2017:

£18,000) by Arbour Holdings Limited, the parent company. At the year end, the company owed Arbour Holdings Limited

£395,132 (2016: £393,068).

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Arbour Holdings Limited.