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REGISTERED NUMBER:
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Stonegate Precision Tooling Limited |
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Unaudited Financial Statements for the Year Ended 31st December 2018 |
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REGISTERED NUMBER:
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Stonegate Precision Tooling Limited |
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Unaudited Financial Statements for the Year Ended 31st December 2018 |
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Stonegate Precision Tooling Limited (Registered number: 07876144) |
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Contents of the Financial Statements |
for the year ended 31st December 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Stonegate Precision Tooling Limited |
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Company Information |
for the year ended 31st December 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Stonegate Precision Tooling Limited (Registered number: 07876144) |
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Balance Sheet |
31st December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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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 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 |
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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. |
Stonegate Precision Tooling Limited (Registered number: 07876144) |
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Balance Sheet - continued |
31st December 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Stonegate Precision Tooling Limited (Registered number: 07876144) |
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Notes to the Financial Statements |
for the year ended 31st December 2018 |
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1. | STATUTORY INFORMATION |
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Stonegate Precision Tooling Limited is a
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and Wales. The 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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The significant accounting policies applied in the presentation of these financial statements are set out |
below. These policies have been consistently applied to all years presented unless otherwise stated. |
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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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Plant and machinery etc | - |
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Investments in subsidiaries and associates |
Investments in subsidiary and associate undertakings are recognised at cost. |
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Stocks |
Stocks are stated 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 stock to its |
present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made |
for damaged, obsolete and slow-moving stock where appropriate. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss |
Account, 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. |
Stonegate Precision Tooling Limited (Registered number: 07876144) |
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Notes to the Financial Statements - continued |
for the year ended 31st December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Pension costs and other post-retirement benefits |
When employees have rendered service to the company, short-term employee benefits to which the |
employees are entitled are recognised at the un-discounted amount expected to be paid in exchange |
for that service. |
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Leases |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
over the period of the lease. |
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Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's |
cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is |
carried at a revalued amount where the impairment loss is a revaluation decrease. |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are |
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
account in other administrative expenses. |
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Loans and borrowings |
Loans and borrowings are initially recognised at transaction price including transaction costs. |
Subsequently, they are measured at amortised cost using the effective interest rate method, less |
impairment. If an arrangement constitute a financing transaction it is measured at present value. |
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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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Stonegate Precision Tooling Limited (Registered number: 07876144) |
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Notes to the Financial Statements - continued |
for the year ended 31st December 2018 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st January 2018 |
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Additions |
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At 31st December 2018 |
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DEPRECIATION |
At 1st January 2018 |
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Charge for year |
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At 31st December 2018 |
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NET BOOK VALUE |
At 31st December 2018 |
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At 31st December 2017 |
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5. | FIXED ASSET INVESTMENTS |
Interest |
in | Other |
associate | investments | Totals |
£ | £ | £ |
COST |
At 1st January 2018 |
and 31st December 2018 | 100 |
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100,600 |
NET BOOK VALUE |
At 31st December 2018 |
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100,600 |
At 31st December 2017 |
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100,600 |
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The company's investments at the Balance Sheet date comprised a 25% (2017: 25%) holding in Clarity |
VM Limited. The principal activity of Clarity VM Limited is innovative print solutions. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by associates |
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Other debtors |
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Stonegate Precision Tooling Limited (Registered number: 07876144) |
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Notes to the Financial Statements - continued |
for the year ended 31st December 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | 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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Between one and five years |
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9. | OTHER FINANCIAL COMMITMENTS |
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Within other creditors is an amount of £855 relating to pension contributions yet to be paid at the year |
end (2017 £830). |
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10. | RELATED PARTY DISCLOSURES |
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Within debtors are amounts owed from entities over which the entity has a significant influence over of |
£35,156 (2017 - £70,280). |