SDL Biomass Limited - Accounts to registrar (filleted) - small 18.2
SDL Biomass Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2018 |
| for |
| SDL Biomass Limited |
| SDL Biomass Limited (Registered number: 07556433) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SDL Biomass Limited |
| Company Information |
| for the Year Ended 31 March 2018 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| 19 High Street |
| Pershore |
| Worcestershire |
| WR10 1AA |
| SDL Biomass Limited (Registered number: 07556433) |
| Balance Sheet |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Property, plant and equipment | 5 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| SDL Biomass Limited (Registered number: 07556433) |
| Balance Sheet - continued |
| 31 March 2018 |
| 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 |
| SDL Biomass Limited (Registered number: 07556433) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| SDL Biomass Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the value of goods sold during the period net of VAT. Turnover is recognised when goods |
| are physically delivered to the customer. |
| Uninvoiced deliveries at the year end are included in accrued income. Invoiced deliveries are included in |
| debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods |
| have been delivered. |
| Intangible assets |
| Development costs will commence amortisation when commercial production starts and the product comes into |
| use. Computer software is being amortised evenly over its estimated useful life of five years. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated |
| impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Stocks |
| Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Stock of goods is valued at the lower of costs and net realisable value. Cost represents the purchase price of |
| goods. Net realisable value represents the selling price of completed goods less any costs necessary to complete |
| the goods. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less |
| than cost. |
| SDL Biomass Limited (Registered number: 07556433) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
| current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax |
| rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial |
| statements of current and previous periods. It is recognised in respect of all timing differences, with certain |
| exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated |
| in the financial statements that arise from the inclusion of income and expense in tax assessments in periods |
| different from those in which they are recognised in the financial statements. 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. |
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the |
| balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued |
| non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that |
| apply to the sale of the asset. |
| 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. |
| The financial statements have been prepared on a going concern basis as the directors intend to support the |
| company. The financial statements do not include any adjustment that would result from the withdrawal of the |
| directors support. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SDL Biomass Limited (Registered number: 07556433) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| Cost |
| Additions |
| At 31 March 2018 |
| Amortisation |
| Charge for year |
| At 31 March 2018 |
| Net book value |
| At 31 March 2018 |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| Cost |
| At 1 April 2017 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2018 |
| Depreciation |
| At 1 April 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2018 |
| Net book value |
| At 31 March 2018 |
| At 31 March 2017 |
| SDL Biomass Limited (Registered number: 07556433) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 5. | PROPERTY, PLANT AND EQUIPMENT - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2017 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2018 |
| Depreciation |
| At 1 April 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2018 |
| Net book value |
| At 31 March 2018 |
| At 31 March 2017 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2018 |
| Depreciation |
| At 1 April 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2018 |
| Net book value |
| At 31 March 2018 |
| At 31 March 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| SDL Biomass Limited (Registered number: 07556433) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2018 | 2017 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating |
| leases |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank overdraft |
| Director | 2,457,685 | 2,232,146 |
| One of the Directors has a fixed charge containing a negative pledge over the assets. |
| SDL Biomass Limited (Registered number: 07556433) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company is a wholly owned subsidiary of SD Launchbury Holdings Limited, registered office Westington |
| Quarry, Westington Hill, Chipping Campden, Gloucestershire, GL55 6EG. The ultimate controlling party is S |
| Launchbury a director of SD Launchbury Holdings Limited and SDL Biomass Limited. |