Edmar Engineering Co. Limited - Accounts to registrar (filleted) - small 18.2
Edmar Engineering Co. Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST OCTOBER 2017 |
| FOR |
| EDMAR ENGINEERING CO. LIMITED |
| EDMAR ENGINEERING CO. LIMITED (REGISTERED NUMBER: 00396168) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST OCTOBER 2017 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| EDMAR ENGINEERING CO. LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST OCTOBER 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 47 Calthorpe Road |
| Edgbaston |
| BIRMINGHAM |
| B15 1TH |
| BANKERS: |
| PO Box 33 |
| 9 Queen Square |
| Wolverhampton |
| West Midlands |
| WV1 1TE |
| INCORPORATED: |
| EDMAR ENGINEERING CO. LIMITED (REGISTERED NUMBER: 00396168) |
| ABRIDGED BALANCE SHEET |
| 31ST OCTOBER 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 6 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| EDMAR ENGINEERING CO. LIMITED (REGISTERED NUMBER: 00396168) |
| ABRIDGED BALANCE SHEET - continued |
| 31ST OCTOBER 2017 |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| EDMAR ENGINEERING CO. LIMITED (REGISTERED NUMBER: 00396168) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST OCTOBER 2017 |
| 1. | STATUTORY INFORMATION |
| Edmar Engineering Co. Limited is a |
| 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 |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 31st October 2017 are the first that are prepared in |
| accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance |
| with UK GAP, the date of transition to FRS 102 Section 1A is 1st November 2015. |
| Turnover |
| Turnover represents sales of goods net of VAT. Turnover is recognised when the goods are physically |
| delivered to the customer. Where goods are supplied under a contract that straddles the year end, |
| turnover is recognised on the percentage complete at the year end. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out |
| basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is |
| made for slow moving, obsolete or damaged stock where the net realisable value is less than cost. |
| 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. |
| EDMAR ENGINEERING CO. LIMITED (REGISTERED NUMBER: 00396168) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST OCTOBER 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| 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 the profit and loss account over the |
| relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over |
| the period of the lease. |
| EDMAR ENGINEERING CO. LIMITED (REGISTERED NUMBER: 00396168) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST OCTOBER 2017 |
| 3. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1st November 2016 |
| Additions |
| Disposals | ( |
) |
| At 31st October 2017 |
| DEPRECIATION |
| At 1st November 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31st October 2017 |
| NET BOOK VALUE |
| At 31st October 2017 |
| At 31st October 2016 |
| Included in the total net book value of tangible assets held at 31st October 2017 was nil in respect of |
| assets held under finance leases and hire purchase contracts (2016; £9,506). |
| 4. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2017 | 2016 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| EDMAR ENGINEERING CO. LIMITED (REGISTERED NUMBER: 00396168) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST OCTOBER 2017 |
| 4. | LEASING AGREEMENTS - continued |
| Non-cancellable |
| operating leases |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 5. | SECURED DEBTS |
| There is an all monies fixed and floating debenture given to the bank over all assets of the company. This |
| is to cover any bank loans and overdrafts granted. |
| 6. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | 4,847 | 5,707 |
| Deferred |
| tax |
| £ |
| Balance at 1st November 2016 |
| Utilised during year | ( |
) |
| Balance at 31st October 2017 |
| 7. | FIRST YEAR ADOPTION |
| Transitional adjustments have been made to the prior year hire purchase balances under the new FRS102 |
| accounting rules. A transitional adjustment of £815 has arisen. This has been deducted on the current |
| year tax computation, no deferred tax adjustment has arisen on this. |