T.Norris (Industries) Limited - Accounts to registrar (filleted) - small 18.2

T.NORRIS(INDUSTRIES)LIMITED - Company Information

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REGISTERED NUMBER: 00443535 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

T.NORRIS (INDUSTRIES) LIMITED

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

Mr J P Norris

Mrs J Norris

SECRETARY:

Mrs J Norris

REGISTERED OFFICE:

26 Great Queen Street

London

WC2B 5BB

REGISTERED NUMBER:

00443535 (England and Wales)

ACCOUNTANTS:

LEES

Chartered Certified Accountants

Puerorum House

1st Floor

26 Great Queen Street

London

WC2B 5BL

FIXED ASSETS

Tangible assets

5,460

4,784

CURRENT ASSETS

Stocks

74,563

71,670

Debtors

13,942

14,201

Cash in hand

43,193

31,845

131,698

117,716

CREDITORS

Amounts falling due within one year

60,437

45,946

NET CURRENT ASSETS

71,261

71,770

TOTAL ASSETS LESS CURRENT
LIABILITIES

76,721

76,554

CREDITORS

Amounts falling due after more than one
year

(385

)

(7,048

)

PROVISIONS FOR LIABILITIES

(1,037

)

(957

)

NET ASSETS

75,299

68,549

CAPITAL AND RESERVES

Called up share capital

3,000

Retained earnings

72,299

65,549

SHAREHOLDERS' FUNDS

75,299

68,549

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

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

The financial statements were approved by the Board of Directors on 31 August 2018 and were signed on its behalf by:

Mr J P Norris - Director

1.	STATUTORY INFORMATION

T.Norris (Industries) 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.

The financial statements are presented in sterling, which is the functional currency of the company.

Turnover

Turnover represents the fair value of services provided during the year. Turnover is recognised as contract

activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be

recoverable from clients. Turnover excludes value added tax. Unbilled turnover on individual contracts is

included as accrued income within other debtors.

Tangible fixed assets

Tangible fixed assets are recorded at cost less accumulated depreciation. Depreciation is calculated so as to

write off the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of

the assets concerned. The principal annual rates used for this purpose are as follows:-

Land and building - 5% on reducing balance

Plant and machinery etc - 25 % on reducing balance and 10 % on reducing balance

No depreciation is provided on the Freehold Land.

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.

EMPLOYEES

The average number of employees during the year was NIL (2016 - 4 ).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

COST

At 1 January 2017

12,688

26,083

38,771

Additions

1,360

At 31 December 2017

12,688

27,443

40,131

DEPRECIATION

At 1 January 2017

11,016

22,971

33,987

Charge for year

651

684

At 31 December 2017

11,049

23,622

34,671

NET BOOK VALUE

At 31 December 2017

1,639

3,821

5,460

At 31 December 2016

1,672

3,112

4,784

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Trade debtors

8,654

8,333

Amounts owed by participating interests

439

Other debtors

5,288

5,429

13,942

14,201

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Bank loans and overdrafts

6,667

Trade creditors

33,532

19,864

Taxation and social security

15,035

14,172

Other creditors

5,203

5,243

60,437

45,946

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

Bank loans

385

7,048

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

Bank loans

7,052

13,715

The loan is guaranteed by the directors, Mr J P Norris and Mrs J Norris.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

3,000

Ordinary

£1

3,000

10.

RESERVES

Retained

earnings

At 1 January 2017

65,549

Profit for the year

6,750

At 31 December 2017

72,299

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017 and

31 December 2016:

2017

2016

Mr J P Norris

Balance outstanding at start of year

Amounts repaid

Amounts written off

Amounts waived

Balance outstanding at end of year

The loan is unsecured, interest free and repayable on demand.

In addition, the bank loan of £7,052 is guaranteed by the directors, Mr J P Norris and Mrs J Norris.

12.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by Mr J P Norris.