Walton Plating Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01846778 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

WALTON PLATING LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

M J Koskela

Mrs J B Koskela

R M Sharman

Mrs N A Sharman

SECRETARY:

M J Koskela

REGISTERED OFFICE:

118 Ashley Road

Walton-on-Thames

Surrey

KT12 1HN

REGISTERED NUMBER:

01846778 (England and Wales)

ACCOUNTANTS:

The McWhirter Partnership Limited

Chartered Accountants

336 Molesey Road

Hersham

Walton on Thames

Surrey

KT12 3PD

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Walton Plating Limited for the year ended 30 November 2017 which comprise the Income Statement,

Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Walton Plating Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Walton Plating Limited and state those matters that we have agreed to state to the Board of Directors of Walton Plating Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Walton Plating Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Walton Plating Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Walton Plating Limited. You consider that Walton Plating Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Walton Plating Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The McWhirter Partnership Limited

Chartered Accountants

336 Molesey Road

Hersham

Walton on Thames

Surrey

KT12 3PD

30 July 2018

FIXED ASSETS

Tangible assets

4

160,399

152,565

CURRENT ASSETS

Stocks

41,984

33,028

Debtors

5

285,732

248,285

Cash at bank and in hand

20,891

23,748

348,607

305,061

CREDITORS

Amounts falling due within one year

6

283,127

260,073

NET CURRENT ASSETS

65,480

44,988

TOTAL ASSETS LESS CURRENT LIABILITIES

225,879

197,553

CREDITORS

Amounts falling due after more than one year

7

(94,652

)

(100,000

)

PROVISIONS FOR LIABILITIES

(24,520

)

(21,006

)

NET ASSETS

106,707

76,547

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

105,707

75,547

SHAREHOLDERS' FUNDS

106,707

76,547

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 30 July 2018 and were signed on its behalf by:

M J Koskela - Director

R M Sharman - Director

1.	STATUTORY INFORMATION

Walton Plating 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.

Turnover

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

value added tax and other sales taxes.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful

economic life of that asset as follows:

Leasehold property - over the term of the lease

Plant and machinery - 15% straight line basis

Fixtures and fittings - 10% straight line basis

Motor vehicles - 20% straight line basis

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 37 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 December 2016

198,289

943,618

1,141,907

Additions

-

53,597

53,597

Disposals

-

(23,453

)

(23,453

)

At 30 November 2017

198,289

973,762

1,172,051

DEPRECIATION

At 1 December 2016

166,085

823,257

989,342

Charge for year

3,751

33,804

37,555

Eliminated on disposal

-

(15,245

)

(15,245

)

At 30 November 2017

169,836

841,816

1,011,652

NET BOOK VALUE

At 30 November 2017

28,453

131,946

160,399

At 30 November 2016

32,204

120,361

152,565

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

Plant and

machinery

etc

£

COST

At 1 December 2016

23,453

Additions

28,385

Disposals

(23,453

)

At 30 November 2017

28,385

DEPRECIATION

At 1 December 2016

11,726

Charge for year

4,937

Eliminated on disposal

(15,245

)

At 30 November 2017

1,418

NET BOOK VALUE

At 30 November 2017

26,967

At 30 November 2016

11,727

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

258,877

223,957

Other debtors

26,855

24,328

285,732

248,285

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

3,869

10,663

Trade creditors

65,057

58,070

Taxation and social security

101,475

93,074

Other creditors

112,726

98,266

283,127

260,073

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

22,652

-

Other creditors

72,000

100,000

94,652

100,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Debentures

63,028

88,458

The company has a Confidential Receivables Financing Agreement with Lloyds Commercial Finance Limited and

executed a Book Debts Debenture on 16th November 1995 in their favour as security for the borrowing.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

510

Ordinary A

£1

510

680

490

Ordinary B

£1

490

320

1,000

1,000

On 14th September 2017, 170 A Ordinary shares were converted into 170 B Ordinary shares.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

11.	FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount

to £291,114 (2016 - £333,704).