Central Profiles Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03809083 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2018

for

Central Profiles Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

R K Flory

Mrs J J Flory

SECRETARY:

Mrs J J Flory

REGISTERED OFFICE:

3 The Midshires

Oldington Lane

Kidderminster

Worcestershire

DY11 7QN

REGISTERED NUMBER:

03809083 (England and Wales)

ACCOUNTANTS:

Wilkes Tranter & Co Limited

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

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 Directors' Report 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 Central Profiles Limited for the year ended 30 June 2018

which comprise the Profit and Loss account, 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 Central Profiles 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 Central Profiles Limited and state those matters that we have agreed to state to the Board of Directors of Central Profiles 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 Central Profiles Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Central Profiles 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 Central Profiles Limited. You consider that Central Profiles 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 Central Profiles 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.

Wilkes Tranter & Co Limited

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

18 October 2018

FIXED ASSETS

Tangible assets

4

1,062,401

727,449

CURRENT ASSETS

Debtors

5

201,057

37,775

Cash at bank

35,569

6,650

236,626

44,425

CREDITORS

Amounts falling due within one year

6

(216,693

)

(114,948

)

NET CURRENT ASSETS/(LIABILITIES)

19,933

(70,523

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,082,334

656,926

CREDITORS

Amounts falling due after more than one year

7

(775,055

)

(409,347

)

PROVISIONS FOR LIABILITIES

(107,601

)

(92,540

)

NET ASSETS

199,678

155,039

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

199,578

154,939

199,678

155,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors on 18 October 2018 and were signed on its behalf by:

R K Flory - Director

Mrs J J Flory - Director

1.	STATUTORY INFORMATION

Central Profiles 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

Straight line over 5 years

Plant and machinery

-

20% on cost and 20% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

Motor

improvements

machinery

vehicles

Totals

£

£

£

£

COST

At 1 July 2017

20,742

921,705

15,400

957,847

Additions

-

584,150

-

584,150

Disposals

(20,742

)

(93,959

)

-

(114,701

)

At 30 June 2018

-

1,411,896

15,400

1,427,296

DEPRECIATION

At 1 July 2017

1,636

224,912

3,850

230,398

Charge for year

1,592

182,977

2,888

187,457

Eliminated on disposal

(3,228

)

(49,732

)

-

(52,960

)

At 30 June 2018

-

358,157

6,738

364,895

NET BOOK VALUE

At 30 June 2018

-

1,053,739

8,662

1,062,401

At 30 June 2017

19,106

696,793

11,550

727,449

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

14,382

Other debtors

201,057

23,393

201,057

37,775

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

168,033

83,877

Trade creditors

6,462

5,141

Taxation and social security

31,848

15,559

Other creditors

10,350

10,371

216,693

114,948

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

775,055

406,951

Other creditors

-

2,396

775,055

409,347

2018

2017

£

£

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

142,032

73,050

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

943,088

490,828

The finance leases are secured on the assets concerned.

9.	RELATED PARTY DISCLOSURES

During the year the company made an interest free loan to Central Profiles Laser Cutting

Ltd. The amount outstanding at 30 June 2018 was £200,838 (2017 - £20,733).

During the year the company received management charges of £292,500 (2017 - £247,500)

from Central Profiles Laser Cutting Ltd, a company of which R K Flory and J J Flory are also

directors.