Thomas B Ramsden & Co (Bradford) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00658571 (England and Wales)

Unaudited Financial Statements

for the Year Ended

30 April 2018

for

Thomas B Ramsden & Co (Bradford) Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

276,802

230,897

Investments

6

209

209

277,011

231,106

CURRENT ASSETS

Stocks

2,274,939

2,444,530

Debtors

7

1,432,726

1,777,255

Cash at bank

380,678

527,736

4,088,343

4,749,521

CREDITORS

Amounts falling due within one year

8

760,353

717,289

NET CURRENT ASSETS

3,327,990

4,032,232

TOTAL ASSETS LESS CURRENT LIABILITIES

3,605,001

4,263,338

CREDITORS

Amounts falling due after more than one year

9

(660

)

(660

)

PENSION LIABILITY

(263,000

)

(601,200

)

NET ASSETS

3,341,341

3,661,478

CAPITAL AND RESERVES

Called up share capital allotted, issued and fully paid

11

450

450

Other reserves

40,671

40,671

Retained earnings

3,300,220

3,620,357

SHAREHOLDERS' FUNDS

3,341,341

3,661,478

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 28 November 2018 and were signed on its behalf by:

Col R A B Ramsden - Director

1.	COMPANY INFORMATION

Thomas B Ramsden & Co (Bradford) Limited is a private company, limited by shares , registered in

England and Wales. The company's registered number and registered office address are as below:

Registered number:

00658571

Registered office:

Gordon Mills

Netherfield Road

Guiseley

Leeds

LS20 9PD

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102

"The Financial Reporting Standard applicable in UK and Republic of Ireland" and the Companies Act

2006 as applicable to companies subject to the small companies regime. The disclosure requirements

of section 1A of FRS 102 have been applied other than where additional disclosure is required to give

a true and fair view.

The financial statements have been prepared under the historical cost convention modified to include

certain items at fair value.

Preparation of consolidated financial statements

The ultimate parent company Thomas Ramsden (Holdings) Limited has taken the option under

Sections 383 and 399 of the Companies Act 2006 not to prepare consolidated financial statements on

the basis that the group is small.

The financial statements contain information about Thomas B Ramsden & Co (Bradford) Limited as an

individual company and do not contain consolidated financial information as the parent of a group. The

company has taken the option under Sections 383 and 399 of the Companies Act 2006 not to prepare

consolidated financial statements.

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 companies within the group.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and

rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is

recognised on delivery.

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.

Patents and licences have been fully amortised.

Tangible fixed assets

Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition,

net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, at rates calculated to write off the cost less estimated

residual value of each asset over its expected useful life as follows:

Short leasehold

- Over the duration of the lease

Plant and machinery

- 10%-33% on reducing balance, and straight line over 3-4 years

Residual value represents the estimated amount which would currently be obtained from disposal of an

asset, after deducting estimated costs of disposal, if the asset were already at the age and in the

condition expected at the end of its useful economic life.

The need for any fixed asset impairment write down is assessed by comparison of the carrying value

of the assets against the higher of realisable value and value in use.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale

proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Investments

Investments in subsidiaries are measured at cost less impairment.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell, which is equivalent

to net realisable value. Provision is made for obsolete and slow-moving items where appropriate.

Cost incurred in bringing each product to its present location and condition are:

Raw Materials

-

purchase cost on a first-in, first out basis

Manufactured work-in-progress

-

cost of direct materials and labour plus attributable overheads and certain administrative costs based on the normal level of activity

and finished goods

Purchased finished goods

-

cost includes purchase cost, freight and duty plus attributable labour and overheads

Taxation

Current tax, including UK corporation tax is provided at amounts 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 is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date where transactions or events that result in an obligation to pay more tax in the

future or a right to pay less tax in the future have occurred at the balance sheet date. Timing

differences are differences between the company's taxable profits and its results as stated in the

financial statements that arise from the inclusion of gains and losses 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, on the basis

of all available evidence, it can be regarded as more likely than not that there will be suitable taxable

profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Where items recognised in other comprehensive income or equity are chargeable to or deductible for

tax purposes, the resulting current or deferred tax expense or income is presented in the same

component of comprehensive income or equity as the transaction or other event resulted in the tax

expense or income.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Leases

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the

payments are not made on such basis. Benefits received and receivable as an incentive to sign an

operating lease are similarly spread on a straight-line basis over the lease term.

Retirement benefits

For defined benefit schemes the amounts charged to operating profit are the costs arising from

employee services rendered during the period and the cost of plan introductions, benefit changes,

settlements and curtailments. They are included in staff costs. The net interest cost on the defined

benefit liability is charged to the profit and loss account and included within finance costs.

Remeasurement comprising actuarial gains and losses and the return on scheme assets (excluding

amounts included in net interest on the net defined benefit liability) are recognised immediately in other

comprehensive income.

Defined benefit schemes are funded, with the assets of the scheme held separately from those of the

company, in separate trustee administered funds. Pension scheme assets are measured at fair value

and liabilities are measured on an actuarial basis using the projected unit credit method. The actuarial

valuations are obtained at least triennially and are updated at each balance sheet date.

The company operates a defined contribution scheme. Contributions payable to the company's

pension scheme and that of directors' personal pension schemes are charged to profit or loss in the

period to which they relate.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those

costs are required to be recognised as part of the cost of stock.

Where material, the cost of any unused holiday entitlement is recognised in the period in which the

employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably

committed to terminate the employment of an employee or to provide termination payments.

Financial instruments

Critical accounting judgements and sources of estimation uncertainty

In the application of the company's accounting policies, management is required to make judgements,

estimates and assumptions about the carrying values of assets and liabilities that are not readily

apparent from other sources. The estimates and associated assumptions are based on historical

experience and other factors that are considered to be relevant. Actual results may differ from these

estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised if the revision affects only that

period, or in the period of the revision and future periods if the revision affects both current and future

periods.

The critical judgements that the directors have made in applying the company's accounting policies

and the key sources of estimation uncertainty that have had the most significant effect on the amounts

recognised in the financial statements are described below:

Retirement benefit obligations

The company operates two defined benefit pension schemes. Asset valuations are based on the fair

value of the assets. The valuation of the liabilities of the schemes are based on statistical and actuarial

calculations, using various assumptions including discount rates, future salary and pension increases,

life expectancy of scheme members and cash commutations. The actuarial assumptions may differ

materially from actual experience due to changes in economic and market conditions, variations in

actual mortality, higher or lower cash withdrawal rates and other changes in factors assessed. Any of

these differences could impact the assets or liabilities recognised in the balance sheet in future

periods.

Stock overhead absorption

The company values certain of its finished goods stock and work in progress at the cost of direct

materials and labour plus attributable overheads and certain administrative costs based on the normal

level of activity. When calculating the overhead absorption rate, management considers the

percentage of costs that are directly attributable to bringing stock to its present location and condition,

and estimated wastage based on historical experience and through knowledge of the business.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2017 - 62 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2017

and 30 April 2018

14,751

AMORTISATION

At 1 May 2017

and 30 April 2018

14,751

NET BOOK VALUE

At 30 April 2018

-

At 30 April 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2017

124,712

2,290,746

2,415,458

Additions

69,026

52,244

121,270

Disposals

-

(319,351

)

(319,351

)

At 30 April 2018

193,738

2,023,639

2,217,377

DEPRECIATION

At 1 May 2017

57,761

2,126,800

2,184,561

Charge for year

11,334

51,744

63,078

Eliminated on disposal

-

(307,064

)

(307,064

)

At 30 April 2018

69,095

1,871,480

1,940,575

NET BOOK VALUE

At 30 April 2018

124,643

152,159

276,802

At 30 April 2017

66,951

163,946

230,897

Included within fixed assets are leasehold improvements which are held for use in operating leases.

The gross value of these assets is £108,174 (2017 - £106,892) and the accumulated depreciation is

£63,651 (2017 - £59,913).

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2017

and 30 April 2018

209

NET BOOK VALUE

At 30 April 2018

209

At 30 April 2017

209

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

994,851

1,316,472

Amounts owed by group undertakings

248,692

192,762

Other debtors

189,183

268,021

1,432,726

1,777,255

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

496,655

470,526

Taxation and social security

25,970

84,227

Other creditors

237,728

162,536

760,353

717,289

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

210

210

Other creditors

450

450

660

660

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Deferred shares

450

450

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

109,578

112,574

Between one and five years

261,334

370,911

370,912

483,485

11.

CALLED UP SHARE CAPITAL ALLOTTED, ISSUED AND FULLY PAID

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

450

Ordinary

£1

450

450

Rights on the ordinary shares are as follows:

(i)

are entitled to receive 5,000 votes per share at company general meetings

(ii)

are entitled to a dividend

(iii)

on a return of capital on winding up, or otherwise, are entitled to receive £500 per share before

any repayment of capital to deferred shareholders.

Deferred shares are classified as liabilities as shown in note 9 to the financial statements.

12.	RELATED PARTY DISCLOSURES

The company pays the administration and investment management costs of Carter & Parker Limited

1988 Retirement Savings Plan and Alfred Haley & Co Ltd Pension & Life Assurance Scheme. The

schemes do not reimburse the company for these costs.

Col R A B Ramsden

Rent totalling £210,000 (2017 - £210,000) was charged to the company by its director, Col. R A B

Ramsden and his wife, Mrs G A Ramsden, who own the freehold land and buildings.

13.	ULTIMATE PARENT UNDERTAKING

Thomas B Ramsden & Co (Bradford) Limited is a 100% owned subsidiary of Thomas Ramsden

(Holdings) Limited, a company incorporated in England and Wales.