Newcastle Tool & Gauge Limited - Accounts to registrar (filleted) - small 18.2
Newcastle Tool & Gauge Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2018 |
| for |
| Newcastle Tool & Gauge Limited |
| Newcastle Tool & Gauge Limited (Registered number: 01405496) |
| 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 |
| Newcastle Tool & Gauge Limited |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 140 Coniscliffe Road |
| DARLINGTON |
| County Durham |
| DL3 7RT |
| Newcastle Tool & Gauge Limited (Registered number: 01405496) |
| Balance Sheet |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Capital redemption reserve |
| 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. |
| Newcastle Tool & Gauge Limited (Registered number: 01405496) |
| Balance Sheet - continued |
| 31 March 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Newcastle Tool & Gauge Limited (Registered number: 01405496) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Newcastle Tool & Gauge Limited is a |
| 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 |
| There were no material departures from that standard. |
| The principal accounting policies adopted in the preparation of the financial statements are set out below and have |
| remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
| Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
| owned subsidiaries within the group. |
| Turnover |
| Turnover represented net invoiced sales of goods and services, excluding value added tax. |
| Income recognition |
| 1. Sale of goods |
| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have |
| transferred to the buyer. |
| 2. Rendering of services |
| Turnover from rendering of services is recognised by reference to the stage of completion. The stage of completion is |
| measured by reference to the labour hours incurred to date. |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Office equipment | - |
| Stocks |
| Stocks are valued at the lower of costs and estimated selling price less costs to sell. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
| Newcastle Tool & Gauge Limited (Registered number: 01405496) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| Grants receivable |
| Capital based grants are credited to the profit and loss account over the expected useful life of the asset. Revenue based |
| grants are credited to the profit and loss account in the period to which they relate. |
| Invoice financing |
| The invoice financing creditor represents amounts received in respect of financed debts. There is full recourse to the |
| company for losses on debts, and so the financed debts continue to be recognised on the balance sheet. Interest and other |
| charges relating to invoice financing are recognised in the profit and loss account over the relevant period. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Newcastle Tool & Gauge Limited (Registered number: 01405496) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | Plant and | and |
| leasehold | 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 |
| Motor | Office |
| 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 |
| Newcastle Tool & Gauge Limited (Registered number: 01405496) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 5. | STOCKS |
| 2018 | 2017 |
| £ | £ |
| Stocks |
| 6. | DEBTORS |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Invoice discounting debtor |
| Prepayments and accrued income |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Aggregate amounts |
| Newcastle Tool & Gauge Limited (Registered number: 01405496) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Corporation tax |
| Taxation and social security |
| Other creditors |
| Accruals and deferred income |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2018 | 2017 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Non-cancellable operating |
| leases |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts | 12,662 | 49,514 |
| 10. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances | 144,643 | 133,926 |
| Newcastle Tool & Gauge Limited (Registered number: 01405496) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 10. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2017 |
| Accelerated capital allowances | 10,717 |
| Balance at 31 March 2018 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary 'A' | £1 | 7,590 | 7,590 |
| Ordinary 'B' | £1 | 1,200 | 1,200 |
| Ordinary 'C' | £1 | 1,200 | 1,200 |
| Ordinary 'D' | £1 | 10 | 10 |
| 10,000 | 10,000 |
| All classes of share rank equally in all respects, but are different classes of share. |
| 12. | ULTIMATE PARENT COMPANY |
| The ultimate parent company is NTG Group Limited, a company registered in England and Wales. The registered office is |
| 1 Queen Court, Earlsway, Team Valley Trading Estate, Gateshead, Tyne & Wear, NE11 0BP. |