High Tensile Bolts Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 00920109

Unaudited Financial Statements for the Year Ended 31 October 2017

for

High Tensile Bolts Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S R Goddard

Mrs T L Morrissey

Mr A Weedon

SECRETARY:

Mrs S M Emms

REGISTERED OFFICE:

New Midland Works

Heath Road

Darlaston

West Midlands

WS10 8XE

REGISTERED NUMBER:

00920109

ACCOUNTANTS:

Methven Accountancy Services Limited

76 Waltham Way

Chingford

London

E4 8HE

FIXED ASSETS

Tangible assets

4

130,298

140,438

CURRENT ASSETS

Stocks

194,212

275,903

Debtors

5

707,511

697,190

Cash at bank

1,325,959

1,355,489

2,227,682

2,328,582

CREDITORS

Amounts falling due within one year

6

141,670

310,480

NET CURRENT ASSETS

2,086,012

2,018,102

TOTAL ASSETS LESS CURRENT LIABILITIES

2,216,310

2,158,540

PROVISIONS FOR LIABILITIES

8,866

10,626

NET ASSETS

2,207,444

2,147,914

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Revaluation reserve

7

63,882

63,882

Retained earnings

2,141,562

2,082,032

SHAREHOLDERS' FUNDS

2,207,444

2,147,914

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement 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:

Mrs T L Morrissey - Director

1.	STATUTORY INFORMATION

High Tensile Bolts Limited is a private company, limited by shares , registered in Not specified/Other.

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.

Turnover

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

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% 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.

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 8 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 November 2016

and 31 October 2017

100,000

186,565

157,104

101,405

545,074

DEPRECIATION

At 1 November 2016

22,000

152,075

141,805

88,756

404,636

Charge for year

2,000

3,449

1,530

3,161

10,140

At 31 October 2017

24,000

155,524

143,335

91,917

414,776

NET BOOK VALUE

At 31 October 2017

76,000

31,041

13,769

9,488

130,298

At 31 October 2016

78,000

34,490

15,299

12,649

140,438

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade debtors

145,724

165,292

Other debtors

561,787

531,898

707,511

697,190

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade creditors

86,788

247,204

Taxation and social security

16,288

53,994

Other creditors

38,594

9,282

141,670

310,480

7.

RESERVES

Revaluation

reserve

£

At 1 November 2016

and 31 October 2017

63,882

8.	RELATED PARTY DISCLOSURES

Included in sundry debtors is an interest free loan due from Kebrell Nuts & Bolts Ltd (a related party) of

£553,139 (2016: £516,450).

9.	FIRST YEAR ADOPTION

The company has adopted Financial Reporting Standard 102 Section 1A for the first time in these

financial statements .The comparative amounts for the year to 31st October 2016 have been restated

in the current format. No adjustments to the carrying values of the assets and liabilities arose at the

transition date of 1st November 2015 or at 31st October 2016 and therefore reconciliations of equity at

those dates have not been presented. In addition, no adjustment to the profit for the year to 31st

October 2016 arose, and therefore no reconciliation of profit has been presented.

Transitional relief

On transition to FRS 102, the company has taken advantage of the following transitional relef.

. to use a previous GAAP revaluation as deemed cost on an item of property.