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REGISTERED NUMBER:
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STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018 |
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FOR |
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TREMORFA LTD |
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REGISTERED NUMBER:
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STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018 |
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FOR |
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TREMORFA LTD |
TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
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Page |
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Company Information | 1 |
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Strategic Report | 2 |
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Report of the Directors | 3 |
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Report of the Independent Auditors | 5 |
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Income Statement | 7 |
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Other Comprehensive Income | 8 |
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Balance Sheet | 9 |
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Statement of Changes in Equity | 10 |
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Notes to the Financial Statements | 11 |
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TREMORFA LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY
AUDITOR: |
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AUDITORS: |
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(Statutory Auditor) |
Court House |
Court Road |
Bridgend |
CF31 1BE |
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BANKERS: |
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56 Queen Street |
Cardiff |
CF10 2PX |
TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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STRATEGIC REPORT |
FOR THE YEAR ENDED 30 APRIL 2018 |
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The directors present their strategic report for the year ended 30 April 2018. |
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Tremorfa Limited is a leading company within South Wales offering facilities management and the |
installation and maintenance of the following products and services: |
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Mechanical |
Electrical |
Fire |
Security |
Process Control |
Information Systems |
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REVIEW OF BUSINESS |
The results for the year and financial position of the Company are as shown in the annexed financial |
statements. |
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Performance for the trading year ended 30 April 2018 was disappointing,but expected due to a number of |
factors,some key accounts were lost however new contracts are coming through and 2019 is showing an |
improved position.. |
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We consider that our key performance indicators are those that communicate the financial performance |
and strength of the company,being turnover,gross and operating margin,and return of capital employed. |
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2018 | 2017 |
£ | £ |
Turnover | 7,309,682 | 8,108,188 |
Gross Margin | 1,882,764 | 2,019,946 |
Operating Margin | 23,102 | 82,791 |
Return on Capital Employed | 1.3% | 4.4% |
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PRINCIPAL RISKS AND UNCERTAINTIES |
As for many businesses the environment in which we operate has been and continues to be challenging. |
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We recognise that some of our business maybe lost due to aggressive pricing from some of our |
competitors,seeking to advance on our market share,we therefore continue to enhance customer |
care,quality and service delivery in order to achieve optimum overall value for money for our customers. |
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We are continuously aware that any business may be subject to unforeseen events and with this in mind |
our business strategy and development is aimed at minimising the effects of such events. |
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ON BEHALF OF THE BOARD: |
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 APRIL 2018 |
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The directors present their report with the financial statements of the company for the year ended 30 April 2018. |
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DIVIDENDS |
Interim dividends of £1.20 (2017: £1.20) per share were paid during the year with a final dividend of £nil |
(2017: £nil) per share making a total of £1.20 (2017: £1.20) per share for the year ended 30 April 2018. |
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The total distribution of dividends for the year ended 30 April 2018 is £120,000 (2017: £120,000). |
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FUTURE DEVELOPMENTS |
During 2018 a number of contracts were lost and our market share was reduced by factors outside of our |
control. |
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In 2019 we continue to establish new business and improve performance of our traditional skill set while |
continuing to invest in new product development of the TASICCA brand. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2017 to the date of |
this report. |
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FINANCIAL INSTRUMENTS |
The company's principal financial instruments comprise bank balances,bank overdrafts,trade |
creditors,trade debtors and hire purchase agreements. The main purpose of these instruments is to raise |
funds for the company's operations and to finance the company's operations. |
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Due to the nature of the financial instruments used by the company there is no exposure to price risk.The |
company's approach to managing other risks applicable to the financial instruments concerned is shown |
below. |
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In respect of bank balances,the liquidity risk is managed by maintaining a balance between the continuity of |
funding and flexibility through the use of overdrafts at floating rates of interest. |
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In respect of hire purchase assets with fixed monthly payments.The company manages the liquidity risk by |
ensuring there are sufficient funds to meet the payments. |
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Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered |
to customers and the regular monitoring of amounts outstanding for both time and credit limits. |
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Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. |
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 APRIL 2018 |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the |
financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law |
the directors have elected to prepare the financial statements in accordance with United Kingdom |
Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). |
Under company law the directors must not approve the financial statements unless they are satisfied that |
they give a true and fair view of the state of affairs of the company and of the profit or loss of the company |
for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and |
explain the company's transactions and disclose with reasonable accuracy at any time the financial position |
of the company and enable them to ensure that the financial statements comply with the Companies Act |
2006. They are also responsible for safeguarding the assets of the company and hence for taking |
reasonable steps for the prevention and detection of fraud and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the |
Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the |
steps that he or she ought to have taken as a director in order to make himself or herself aware of any |
relevant audit information and to establish that the company's auditors are aware of that information. |
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AUDITORS |
The auditors, Graham Paul Limited, will be proposed for re-appointment at the forthcoming Annual |
General Meeting. |
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ON BEHALF OF THE BOARD: |
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
TREMORFA LTD |
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Opinion |
We have audited the financial statements of Tremorfa Ltd (the 'company') for the year ended 30 April 2018 |
which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of |
Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting |
policies. The financial reporting framework that has been applied in their preparation is applicable law and |
United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial |
Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted |
Accounting Practice). |
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In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 30 April 2018 and of its profit for the
year then ended; |
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and |
applicable law. Our responsibilities under those standards are further described in the Auditors' |
responsibilities for the audit of the financial statements section of our report. We are independent of the |
company in accordance with the ethical requirements that are relevant to our audit of the financial |
statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical |
responsibilities in accordance with these requirements. We believe that the audit evidence we have |
obtained is sufficient and appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us |
to report to you where: |
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the directors' use of the going concern basis of accounting in the preparation of the financial statements
is not appropriate; or |
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the directors have not disclosed in the financial statements any identified material uncertainties that may
cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in |
the Strategic Report and the Report of the Directors, but does not include the financial statements and our |
Report of the Auditors thereon. |
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Our opinion on the financial statements does not cover the other information and, except to the extent |
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other information |
and, in doing so, consider whether the other information is materially inconsistent with the financial |
statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we |
identify such material inconsistencies or apparent material misstatements, we are required to determine |
whether there is a material misstatement in the financial statements or a material misstatement of the other |
information. If, based on the work we have performed, we conclude that there is a material misstatement of |
this other information, we are required to report that fact. We have nothing to report in this regard. |
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Opinion on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
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the information given in the Strategic Report and the Report of the Directors for the financial year for
which the financial statements are prepared is consistent with the financial statements; and |
- |
the Strategic Report and the Report of the Directors have been prepared in accordance with applicable
legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
TREMORFA LTD |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course |
of the audit, we have not identified material misstatements in the Strategic Report or the Report of the |
Directors. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to |
report to you if, in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
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Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors |
are responsible for the preparation of the financial statements and for being satisfied that they give a true |
and fair view, and for such internal control as the directors determine necessary to enable the preparation |
of financial statements that are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's ability to |
continue as a going concern, disclosing, as applicable, matters related to going concern and using the |
going concern basis of accounting unless the directors either intend to liquidate the company or to cease |
operations, or have no realistic alternative but to do so. |
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Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are |
free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that |
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an |
audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. |
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, |
they could reasonably be expected to influence the economic decisions of users taken on the basis of |
these financial statements. |
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A further description of our responsibilities for the audit of the financial statements is located on the |
Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part |
of our Report of the Auditors. |
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Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 |
of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's |
members those matters we are required to state to them in a Report of the Auditors and for no other |
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other |
than the company and the company's members as a body, for our audit work, for this report, or for the |
opinions we have formed. |
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for and on behalf of
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(Statutory Auditor) |
Court House |
Court Road |
Bridgend |
CF31 1BE |
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2018 |
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2018 | 2017 |
Notes | £ | £ |
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TURNOVER | 3 |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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OPERATING PROFIT | 5 |
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Interest receivable and similar income |
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23,921 | 83,119 |
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Interest payable and similar expenses | 7 |
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PROFIT BEFORE TAXATION |
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Tax on profit | 8 | ( |
) |
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PROFIT FOR THE FINANCIAL YEAR |
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 30 APRIL 2018 |
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2018 | 2017 |
Notes | £ | £ |
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PROFIT FOR THE YEAR |
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OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR |
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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BALANCE SHEET |
30 APRIL 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 10 |
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Tangible assets | 11 |
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CURRENT ASSETS |
Debtors | 12 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 13 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
14 |
( |
) |
( |
) |
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PROVISIONS FOR LIABILITIES | 16 |
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( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 17 |
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Capital redemption reserve | 18 |
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Retained earnings | 18 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 APRIL 2018 |
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Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
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Balance at 1 May 2016 |
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Changes in equity |
Dividends | - | ( |
) | - | ( |
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Total comprehensive income | - |
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Balance at 30 April 2017 |
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Changes in equity |
Dividends | - | ( |
) | - | ( |
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Total comprehensive income | - |
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Balance at 30 April 2018 |
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
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1. | STATUTORY INFORMATION |
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Tremorfa Ltd is a
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company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these |
financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the |
UK and Republic of Ireland": |
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• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of Section 33 Related Party Disclosures paragraph 33.7. |
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Turnover |
Turnover represents net invoiced sales of goods,excluding value added tax,except in respect of |
service contracts where turnover is recognised when the company obtains the right to the |
consideration. |
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Profit is recognised on long-term contracts,if the final outcome can be assessed with reasonable |
certainty,by including in the profit and loss account turnover and related costs as contract activity |
progresses.Turnover is calculated as that proportion of total contract value which costs to date bear |
to total expected costs for that contract. |
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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. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment |
losses. Cost includes the original purchase price, plus any costs directly attributable to bringing the |
asset to its working condition for intended use. |
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Depreciation is provided at the following annual rates in order to write off the cost less estimated |
residual value of each asset over its estimated useful life. |
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Plant and machinery | - 10% on cost |
Fixtures and fittings | - 10% on cost |
Motor vehicles | - 20% on cost |
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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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. |
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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. |
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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. |
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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. |
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Amounts recoverable under contracts |
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable |
certainty, by including in the profit and loss account turnover and related costs as contract activity |
progresses. Turnover is calculated as that proportion of total contract value which costs to date bear |
to total expected costs for that contract. |
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Goodwill |
Goodwill,being the amount paid in connection with the acquisition of Tremorfa Managed Services |
Limited is being amortised evenly over its estimated useful life of 1-3 years. |
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3. | TURNOVER |
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The turnover and profit before taxation are attributable to the one principal activity of the company. |
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An analysis of turnover by geographical market is given below: |
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2018 | 2017 |
£ | £ |
United Kingdom |
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Europe |
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
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4. | EMPLOYEES AND DIRECTORS |
2018 | 2017 |
£ | £ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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The average number of employees during the year was as follows: |
2018 | 2017 |
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Management | 3 | 3 |
Administration | 28 | 25 |
Direct labour | 55 | 64 |
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2018 | 2017 |
£ | £ |
Directors' remuneration |
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Directors' pension contributions to money purchase schemes |
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The number of directors to whom retirement benefits were accruing was as follows: |
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Money purchase schemes |
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5. | OPERATING PROFIT |
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The operating profit is stated after charging/(crediting): |
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2018 | 2017 |
£ | £ |
Hire of plant and machinery |
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Depreciation - owned assets |
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Profit on disposal of fixed assets | ( |
) | ( |
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Auditors' remuneration |
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Auditors' remuneration for non audit work |
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6. | EXCEPTIONAL ITEMS |
2018 | 2017 |
£ | £ |
Exceptional relocation items | - | (69,773 | ) |
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7. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2018 | 2017 |
£ | £ |
Hire purchase |
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
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8. | TAXATION |
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Analysis of the tax (credit)/charge |
The tax (credit)/charge on the profit for the year was as follows: |
2018 | 2017 |
£ | £ |
Current tax: |
UK corporation tax |
|
|
Adjustment for prior years | (54,165 | ) | - |
Total current tax | ( |
) |
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Deferred tax | ( |
) |
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Tax on profit | ( |
) |
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Reconciliation of total tax (credit)/charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The |
difference is explained below: |
|
2018 | 2017 |
£ | £ |
Profit before tax |
|
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Profit multiplied by the standard rate of corporation tax in the UK of
|
|
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Effects of: |
Adjustments to tax charge in respect of previous periods | ( |
) |
|
Expenses not deductible for tax purpose | 508 | 874 |
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Capital allowances in excess of depreciation | 2,508 | (1,216 | ) |
|
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Deferred tax timing differences | (4,964 | ) | 1,514 |
Total tax (credit)/charge | (52,136 | ) | 16,061 |
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9. | DIVIDENDS |
2018 | 2017 |
£ | £ |
Ordinary shares of £1 each |
Interim |
|
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
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|
10. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2017 |
and 30 April 2018 |
|
AMORTISATION |
At 1 May 2017 |
and 30 April 2018 |
|
NET BOOK VALUE |
At 30 April 2018 |
|
At 30 April 2017 |
|
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11. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2017 |
|
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Additions |
|
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Disposals |
|
|
( |
) | ( |
) |
At 30 April 2018 |
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DEPRECIATION |
At 1 May 2017 |
|
|
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Charge for year |
|
|
|
|
Eliminated on disposal |
|
|
( |
) | ( |
) |
At 30 April 2018 |
|
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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Included within the net book value of £350,444 is £86,660 (2017- £33,176) relating to assets held |
under hire purchase agreements. The depreciation charged to the financial statements in the year in |
respect of such assets amounted to £17,100 (2017 - £47,393). |
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12. | DEBTORS |
2018 | 2017 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
|
|
Amounts recoverable on contract |
|
|
Prepayments |
|
|
|
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TREMORFA LTD (REGISTERED NUMBER: 01825211) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
|
|
12. | DEBTORS - continued |
2018 | 2017 |
£ | £ |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
|
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Aggregate amounts |
|
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13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts (see note 15) |
|
|
Trade creditors |
|
|
Tax | ( |
) |
|
Social security and other taxes |
|
|
VAT | 286,569 | 172,142 |
Dividend creditor | 27 | 27 |
Other creditors |
|
|
Directors' current accounts | 350,000 | 300,000 |
Accrued expenses |
|
|
|
|
|
14. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts (see note 15) |
|
|
|
15. | LEASING AGREEMENTS |
|
Minimum lease payments fall due as follows: |
|
Hire purchase contracts |
2018 | 2017 |
£ | £ |
Net obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
Non-cancellable |
operating leases |
2018 | 2017 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
In more than five years |
|
|
|
|
TREMORFA LTD (REGISTERED NUMBER: 01825211) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
|
|
16. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | - | 4,964 |
|
Deferred |
tax |
£ |
Balance at 1 May 2017 |
|
Credit to Income Statement during year | ( |
) |
Balance at 30 April 2018 |
|
|
17. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
|
Ordinary | £1 | 100,000 | 100,000 |
|
18. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
|
At 1 May 2017 |
|
|
1,592,781 |
Profit for the year |
|
|
Dividends | ( |
) | ( |
) |
At 30 April 2018 |
|
|
1,545,846 |
|
19. | PENSION COMMITMENTS |
|
The company operates a defined contribution pension scheme. The assets are held separately from |
those of the company in an independently administered fund. |
|
The pension cost charge represents contributions payable by the company to the fund and |
amounted to £18,934 (2017 - £19,423). |
|
20. | ULTIMATE PARENT COMPANY |
|
The ultimate parent controlling party is the parent company Tremorfa Group Limited which owns |
100% of the issued share capital of Tremorfa Limited. |
|
The parent undertaking of the largest and smallest group which includes the company and for which |
group accounts are prepared is Tremorfa Group Limited. Copies of the group financial statements |
for Tremorfa Group Limited can be obtained from Companies House,Crown Way,Maindy,Cardiff. |
CF4 3UZ. |
TREMORFA LTD (REGISTERED NUMBER: 01825211) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
|
|
21. | ULTIMATE CONTROLLING PARTY |
|
The ultimate controlling party is the director M.Hosken by virtue of his majority shareholding in |
Tremorfa Group Limited. |