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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
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ARMATOOL DISTRIBUTORS LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
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FOR |
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ARMATOOL DISTRIBUTORS LIMITED |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ARMATOOL DISTRIBUTORS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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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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AUDITORS: |
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STATUTORY AUDITOR |
CHARTERED ACCOUNTANTS |
Chart House |
2 Effingham Road |
Reigate |
Surrey |
RH2 7JN |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
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BALANCE SHEET |
31 DECEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 11 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 12 |
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Revaluation reserve | 13 |
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Retained earnings | 13 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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1. | STATUTORY INFORMATION |
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Armatool Distributors Limited 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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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Improvements to property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | to | and | Motor |
property | property | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2017 |
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Additions |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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Included in cost or valuation of land and buildings is freehold land of £ 311,250 (2016 - £ 311,250 ) which is not |
depreciated. |
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Cost or valuation at 31 December 2017 is represented by: |
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Improvements | Fixtures |
Freehold | to | and | Motor |
property | property | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2004 | 97,374 | - | - | - | 97,374 |
Valuation in 2005 | 150,000 | - | - | - | 150,000 |
Valuation in 2006 | 40,000 | - | - | - | 40,000 |
Valuation in 2011 | (20,000 | ) | - | - | - | (20,000 | ) |
Valuation in 2013 | 80,000 | - | - | - | 80,000 |
Valuation in 2014 | 30,000 | - | - | - | 30,000 |
Valuation in 2016 | (7,500 | ) | - | - | - | (7,500 | ) |
Cost | 252,626 | 35,896 | 102,574 | 5,999 | 397,095 |
622,500 | 35,896 | 102,574 | 5,999 | 766,969 |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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4. | TANGIBLE FIXED ASSETS - continued |
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If freehold land and buildings had not been revalued they would have been included at the following historical |
cost: |
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2017 | 2016 |
£ | £ |
Cost | 252,626 | 252,626 |
Aggregate depreciation | 47,996 | 47,996 |
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Value of land in freehold land and buildings | 126,313 | 126,313 |
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Freehold land and buildings were valued on an open market basis on 31 December 2017 by The Directors . |
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5. | STOCKS |
2017 | 2016 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts (see note 8) |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 54,140 | 31,578 |
Other creditors |
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8. | LOANS |
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An analysis of the maturity of loans is given below: |
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2017 | 2016 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Within one year |
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ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank overdraft |
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11. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax |
Provision for the year | 33,705 | 50,193 |
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Deferred |
tax |
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Balance at 1 January 2017 |
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Accelerated capital allowance | (16,488 | ) |
Balance at 31 December 2017 |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary A | £1 | 100 | 100 |
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Ordinary B | £1 | 100 | 100 |
200 | 200 |
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13. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 January 2017 |
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1,004,102 |
Profit for the year |
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Dividends | ( |
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At 31 December 2017 |
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1,152,045 |
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14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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15. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit returns |
to the tax authorities and assist with the preparation of the financial statements. |
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16. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of its directors. |