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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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PRECIOUS METALS (UK) LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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FOR |
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PRECIOUS METALS (UK) LIMITED |
PRECIOUS METALS (UK) LIMITED (REGISTERED NUMBER: 09337629) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST 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 | 4 |
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PRECIOUS METALS (UK) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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PRECIOUS METALS (UK) LIMITED (REGISTERED NUMBER: 09337629) |
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BALANCE SHEET |
31ST DECEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS/(LIABILITIES) |
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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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PRECIOUS METALS (UK) LIMITED (REGISTERED NUMBER: 09337629) |
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BALANCE SHEET - continued |
31ST DECEMBER 2017 |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
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. |
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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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PRECIOUS METALS (UK) LIMITED (REGISTERED NUMBER: 09337629) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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1. | STATUTORY INFORMATION |
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Precious Metals (UK) Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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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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Plant and machinery | - |
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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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Financial instruments |
The company is party to only the basic financial instruments such as cash, trade debtors and |
creditors and loans. Instruments such as trade debtors and trade creditors are initially recognised at |
their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable |
on demand or due within one year, such as bank loans, are measured at amortised cost using the |
effective interest rate. |
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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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PRECIOUS METALS (UK) LIMITED (REGISTERED NUMBER: 09337629) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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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 |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st January 2017 |
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Additions |
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At 31st December 2017 |
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DEPRECIATION |
At 1st January 2017 |
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Charge for year |
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At 31st December 2017 |
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NET BOOK VALUE |
At 31st December 2017 |
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At 31st December 2016 |
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PRECIOUS METALS (UK) LIMITED (REGISTERED NUMBER: 09337629) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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VAT |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Corporation tax |
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PAYE and NIC |
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VAT | 17,256 | - |
Other creditors |
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Pension creditor | 18 | - |
Directors' loan accounts | 229 | 34,308 |
Accruals and deferred income |
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