Fastrax Conveyor Rollers Ltd - Accounts to registrar (filleted) - small 18.1

Fastrax Conveyor Rollers Ltd - Accounts to registrar (filleted) - small 18.1

FASTRAX CONVEYOR ROLLERS LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v18.1.0.975 05520208 Board of Directors 1.1.17 31.12.17 31.12.17 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure055202082016-12-31055202082017-12-31055202082017-01-012017-12-31055202082015-12-31055202082016-01-012016-12-31055202082016-12-3105520208ns15:EnglandWales2017-01-012017-12-3105520208ns14:PoundSterling2017-01-012017-12-3105520208ns10:Director12017-01-012017-12-3105520208ns10:PrivateLimitedCompanyLtd2017-01-012017-12-3105520208ns10:SmallEntities2017-01-012017-12-3105520208ns10:AuditExempt-NoAccountantsReport2017-01-012017-12-3105520208ns10:SmallCompaniesRegimeForDirectorsReport2017-01-012017-12-3105520208ns10:SmallCompaniesRegimeForAccounts2017-01-012017-12-3105520208ns10:FullAccounts2017-01-012017-12-310552020812017-01-012017-12-3105520208ns10:Director42017-01-012017-12-3105520208ns10:Director52017-01-012017-12-3105520208ns10:RegisteredOffice2017-01-012017-12-3105520208ns5:CurrentFinancialInstruments2017-12-3105520208ns5:CurrentFinancialInstruments2016-12-3105520208ns5:ShareCapital2017-12-3105520208ns5:ShareCapital2016-12-3105520208ns5:RetainedEarningsAccumulatedLosses2017-12-3105520208ns5:RetainedEarningsAccumulatedLosses2016-12-3105520208ns5:NetGoodwill2017-01-012017-12-3105520208ns5:IntangibleAssetsOtherThanGoodwill2017-01-012017-12-3105520208ns5:PlantMachinery2017-01-012017-12-3105520208ns5:NetGoodwill2016-12-3105520208ns5:NetGoodwill2017-12-3105520208ns5:NetGoodwill2016-12-3105520208ns5:PlantMachinery2016-12-3105520208ns5:PlantMachinery2017-12-3105520208ns5:PlantMachinery2016-12-3105520208ns5:CostValuation2016-12-3105520208ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-12-3105520208ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-12-31


REGISTERED NUMBER: 05520208 (England and Wales)















Financial Statements for the Year Ended 31 December 2017

for

Fastrax Conveyor Rollers Ltd
Fastrax Conveyor Rollers Ltd (Registered number: 05520208)






Contents of the Financial Statements
for the Year Ended 31 December 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fastrax Conveyor Rollers Ltd

Company Information
for the Year Ended 31 December 2017







DIRECTORS: S J Millar
A N Geoghegan
G R Hogsflesh





REGISTERED OFFICE: Unit F
Willowbrook East Industrial Estate
Trevithick Road
Corby
Northamptonshire
NN17 5XY





REGISTERED NUMBER: 05520208 (England and Wales)





ACCOUNTANTS: Blythe Phillips & Co.
10C Peckingham Street
Halesowen
West Midlands
B63 3AW
Page 1
Fastrax Conveyor Rollers Ltd (Registered number: 05520208)

Balance Sheet
31 December 2017

31.12.17 31.12.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 134,900 134,900
Tangible assets 5 45,517 84,502
Investments 6 1,000 1,000
181,417 220,402

CURRENT ASSETS
Stocks 118,856 126,000
Debtors 7 520,511 499,318
Cash at bank 62,482 56,646
701,849 681,964
CREDITORS
Amounts falling due within one year 8 563,374 583,797
NET CURRENT ASSETS 138,475 98,167
TOTAL ASSETS LESS CURRENT
LIABILITIES
319,892
318,569

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 318,892 317,569
SHAREHOLDERS' FUNDS 319,892 318,569

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 notes form part of these financial statements

Page 2 continued...
Fastrax Conveyor Rollers Ltd (Registered number: 05520208)

Balance Sheet - continued
31 December 2017


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 28 September 2018 and were signed on its behalf by:





S J Millar - Director


The notes form part of these financial statements

Page 3
Fastrax Conveyor Rollers Ltd (Registered number: 05520208)

Notes to the Financial Statements
for the Year Ended 31 December 2017

1. STATUTORY INFORMATION

Fastrax Conveyor Rollers Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any
accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Page 4 continued...
Fastrax Conveyor Rollers Ltd (Registered number: 05520208)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

2. ACCOUNTING POLICIES - continued

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 21 (2016 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2017
and 31 December 2017 134,900
NET BOOK VALUE
At 31 December 2017 134,900
At 31 December 2016 134,900

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2017 202,083
Disposals (36,500 )
At 31 December 2017 165,583
DEPRECIATION
At 1 January 2017 117,581
Charge for year 16,110
Eliminated on disposal (13,625 )
At 31 December 2017 120,066
NET BOOK VALUE
At 31 December 2017 45,517
At 31 December 2016 84,502

Page 5 continued...
Fastrax Conveyor Rollers Ltd (Registered number: 05520208)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2017
and 31 December 2017 1,000
NET BOOK VALUE
At 31 December 2017 1,000
At 31 December 2016 1,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.17 31.12.16
£    £   
Trade debtors 365,798 336,279
Amounts owed by group undertakings 149,551 157,460
Other debtors 5,162 5,579
520,511 499,318

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.17 31.12.16
£    £   
Trade creditors 307,111 318,332
Taxation and social security 250,813 259,565
Other creditors 5,450 5,900
563,374 583,797

Page 6