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REGISTERED NUMBER:
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AUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 9 AUGUST 2018 TO 31 MARCH 2019 |
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ALBION VALVES (INTERNATIONAL) LIMITED |
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REGISTERED NUMBER:
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AUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 9 AUGUST 2018 TO 31 MARCH 2019 |
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FOR |
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ALBION VALVES (INTERNATIONAL) LIMITED |
ALBION VALVES (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 11508579) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 AUGUST 2018 TO 31 MARCH 2019 |
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Company Information | 1 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 4 |
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ALBION VALVES (INTERNATIONAL) LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 9 AUGUST 2018 TO 31 MARCH 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
12 Victoria Road |
Barnsley |
South Yorkshire |
S70 2BB |
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ALBION VALVES (INTERNATIONAL) LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 9 AUGUST 2018 TO 31 MARCH 2019 |
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BANKERS: |
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1a Peel Square |
Barnsley |
South Yorkshire |
S70 2PL |
ALBION VALVES (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 11508579) |
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BALANCE SHEET |
31 MARCH 2019 |
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Notes | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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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 |
6 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | ( |
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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 and authorised for issue by the Board of Directors on
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ALBION VALVES (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 11508579) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 AUGUST 2018 TO 31 MARCH 2019 |
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1. | STATUTORY INFORMATION |
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Albion Valves (International) Limited is a
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England and Wales. The company's registered number and registered office address can be |
found on the Company Information page. |
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The financial statements are presented in sterling which is the functional currency of the |
company and rounded to the nearest pound. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
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The financial statements have been prepared on a going concern basis. The parent |
company has indicated a willingness to continue to support the company financially, as |
required, for the foreseeable future. |
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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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Turnover from the sale of valves and pipeline equipment is recognised when significant |
risks and rewards of ownership of the goods have transferred to the buyer, the amount of |
turnover can be measured reliably, it is probable that the economic benefits associated |
with the transaction will flow to the company and the costs incurred or to be incurred in |
respect of the transaction can be measured reliably. This is usually on the despatch of |
goods. |
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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 |
Financial instruments are classified and accounted for, according to the substance of the |
contractual arrangement, as either financial assets, financial liabilities or equity |
instruments. An equity instrument is any contract that evidences a residual interest in the |
assets of the company after deducting all of its liabilities. |
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ALBION VALVES (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 11508579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 AUGUST 2018 TO 31 MARCH 2019 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 period 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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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
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VAT |
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Prepayments and accrued income |
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ALBION VALVES (INTERNATIONAL) LIMITED (REGISTERED NUMBER: 11508579) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 AUGUST 2018 TO 31 MARCH 2019 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
£ |
Amounts owed to group undertakings |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary | £1 | 50,000 |
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8. | 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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9. | RELATED PARTY DISCLOSURES |
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Entities with control, joint control or significant influence over the entity |
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31.03.2019 |
Purchases | £62,045 |
Management costs | £11,963 |
Balance due to the related party at the year end | £151,545 |
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10. | ULTIMATE PARENT COMPANY |
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Albion Valves (UK) Limited |
Registered Office: 12 Victoria Road, Barnsley, South Yorkshire, S70 2BB. |