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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
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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 2018 |
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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 2018 |
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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 2018 |
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DIRECTOR: |
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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 2018 |
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2018 | 2017 |
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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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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PROVISIONS FOR LIABILITIES | 12 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 13 |
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Revaluation reserve | 14 |
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Capital redemption reserve | 14 |
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Retained earnings | 14 |
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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 director 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 2018 |
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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 2018 |
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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 2018 |
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Additions |
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Revaluations |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Included in cost or valuation of land and buildings is freehold land of £ 415,000 (2017 - £ 311,250 ) which is not |
depreciated. |
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Cost or valuation at 31 December 2018 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 | ) |
Valuation in 2018 | 207,500 | - | - | - | 207,500 |
Cost | 252,626 | 35,896 | 104,634 | 5,999 | 399,155 |
830,000 | 35,896 | 104,634 | 5,999 | 976,529 |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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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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2018 | 2017 |
£ | £ |
Cost | 252,626 | 252,626 |
Aggregate depreciation | 50,522 | 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 21 June 2018 by Robinsons, Chartered Surveyors |
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5. | STOCKS |
2018 | 2017 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts (see note 9) |
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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 | 37,166 | 54,140 |
Other creditors |
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Directors' current accounts | 255,000 | - |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Bank loans (see note 9) |
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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 2018 |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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2018 | 2017 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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10. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank loans |
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12. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax |
Provision for the year | 72,802 | 33,705 |
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Deferred |
tax |
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Balance at 1 January 2018 |
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Accelerated capital allowance | 39,097 |
Balance at 31 December 2018 |
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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 2018 |
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13. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary A | £1 | 50 | 100 |
(2017 - 100 ) |
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Ordinary B | £1 | 100 | 100 |
150 | 200 |
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14. | RESERVES |
Capital |
Retained | Revaluation | redemption |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
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At 1 January 2018 |
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1,152,045 |
Profit for the year |
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Dividends | ( |
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Purchase of own shares | (750,000 | ) | - | 50 | (749,950 | ) |
Revaluation in year | - | 207,500 | - | 207,500 |
At 31 December 2018 |
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667,812 |
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15. | 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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16. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £49,200 (2017 - £74,200) were paid to the directors . |
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Included in creditors falling due within one year is a loan of £255,000 (2017: £Nil) from J F Lacey, the sole |
director of the company. |
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17. | 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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18. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of its director. |