Architen Landrell Manufacturing Limited Filleted accounts for Companies House (small and micro)

ARCHITEN LANDRELL MANUFACTURING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01759047

ARCHITEN LANDRELL MANUFACTURING LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 April 2018

ARCHITEN LANDRELL MANUFACTURING LIMITED

FINANCIAL STATEMENTS

Year ended 30 April 2018

CONTENTS	PAGE

Balance sheet	1

Notes to the financial statements	3

ARCHITEN LANDRELL MANUFACTURING LIMITED

BALANCE SHEET

30 April 2018

	2018	2017
Note	£	£

FIXED ASSETS

Tangible assets	6	165,392	175,683
Investments	7	5,379	5,379
		---------	---------
		170,771	181,062

CURRENT ASSETS

Stocks		77,466	153,063
Debtors	8	844,573	625,121
Cash at bank and in hand		404,061	152,632
		------------	---------
		1,326,100	930,816

CREDITORS: amounts falling due within one year	9	( 690,988)	( 549,695)
		------------	---------
NET CURRENT ASSETS		635,112	381,121
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		805,883	562,183

CREDITORS: amounts falling due after more than one year	10	–	( 20,259)

PROVISIONS	( 10,541)	( 8,563)
	---------	---------
NET ASSETS	795,342	533,361
	---------	---------

CAPITAL AND RESERVES

Called up share capital	4,800	4,800
Capital redemption reserve	135,200	135,200
Profit and loss account	655,342	393,361
	---------	---------
SHAREHOLDERS FUNDS	795,342	533,361
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

ARCHITEN LANDRELL MANUFACTURING LIMITED

BALANCE SHEET (continued)

30 April 2018

These financial statements were approved by the board of directors and authorised for issue on 29 January 2019 , and are signed on behalf of the board by:

Mr C L Rowell
Director

Company registration number: 01759047

ARCHITEN LANDRELL MANUFACTURING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

Year ended 30 April 2018

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Station Road, Chepstow, Monmouthshire, NP16 5PF.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Other intangible assets	-	100% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	10% to 15% straight line
Fixtures and fittings	-	25% straight line
Motor vehicles	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Research and development

Research & development expenditure is not capitalised and is written off in the year of expenditure through the profit & loss account.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 22 (2017: 14 ).

5. INTANGIBLE ASSETS

	Development costs
	£
Cost
At 1 May 2017 and 30 April 2018	3,500
	-------
Amortisation
At 1 May 2017 and 30 April 2018	3,500
	-------
Carrying amount
At 30 April 2018	–
	-------
At 30 April 2017	–
	-------

6. TANGIBLE ASSETS

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 May 2017	1,085,594	477,132	102,934	1,665,660
Additions	22,893	7,039	–	29,932
Disposals	( 10,920)	–	( 14,200)	( 25,120)
	------------	---------	---------	------------
At 30 April 2018	1,097,567	484,171	88,734	1,670,472
	------------	---------	---------	------------
Depreciation
At 1 May 2017	945,898	465,630	78,449	1,489,977
Charge for the year	29,408	4,493	6,252	40,153
Disposals	( 10,850)	–	( 14,200)	( 25,050)
	------------	---------	---------	------------
At 30 April 2018	964,456	470,123	70,501	1,505,080
	------------	---------	---------	------------
Carrying amount
At 30 April 2018	133,111	14,048	18,233	165,392
	------------	---------	---------	------------
At 30 April 2017	139,696	11,502	24,485	175,683
	------------	---------	---------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 30 April 2018	29,170
	--------
At 30 April 2017	33,049
	--------

7. INVESTMENTS

	Shares in group undertakings
	£
Cost
At 1 May 2017 and 30 April 2018	5,379
	-------
Impairment
At 1 May 2017 and 30 April 2018	–
	-------

Carrying amount
At 30 April 2018	5,379
	-------
At 30 April 2017	5,379
	-------

8. DEBTORS

	2018	2017
	£	£
Trade debtors	731,262	448,563
Prepayments and accrued income	19,621	58,629
Amounts recoverable on contracts	85,130	110,127
Other debtors	8,560	7,802
	---------	---------
	844,573	625,121
	---------	---------

9. CREDITORS: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	201,807	212,118
Amounts owed to group undertakings	11,005	11,005
Accruals and deferred income	263,377	110,095
Corporation tax	4,498	77,289
Social security and other taxes	87,218	72,039
Obligations under finance leases and hire purchase contracts	20,259	33,770
Director loan accounts	100,996	17,308
Other creditors	1,828	16,071
	---------	---------
	690,988	549,695
	---------	---------

The above includes secured creditors of £20,259 (2017 - £33,770).

10. CREDITORS: amounts falling due after more than one year

	2018	2017
	£	£
Obligations under finance leases and hire purchase contracts	–	20,259
	----	--------

The above includes secured creditors of £- (2017 - £20,259).

11. OPERATING LEASES

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2018	2017
	£	£
Not later than 1 year	30,000	30,000
Later than 1 year and not later than 5 years	120,000	120,000
Later than 5 years	90,000	117,863
	---------	---------
	240,000	267,863
	---------	---------

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is the following balance due to the director:

	2018	2017
	£	£
Mr C L Rowell	100,996	17,308
	---------	--------

This loan is interest free and repayable on demand.

13. RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions between wholly owned members of the same group.