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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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FOR |
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ANDANTEX LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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FOR |
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ANDANTEX LIMITED |
ANDANTEX LIMITED (REGISTERED NUMBER: 00359637) |
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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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ANDANTEX 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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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditor |
Highdown House |
11 Highdown Road |
Leamington Spa |
Warwickshire |
CV31 1XT |
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BANKERS: |
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Level 3, Citymark |
150 Fountainbridge |
Edinburgh |
EH3 9PE |
ANDANTEX LIMITED (REGISTERED NUMBER: 00359637) |
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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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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Investments | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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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 |
9 |
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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 |
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Capital redemption reserve |
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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 by the Board of Directors on
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ANDANTEX LIMITED (REGISTERED NUMBER: 00359637) |
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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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Andantex Limited is a
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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 principal accounting policies adopted in the preparation of the financial statements are set out below and |
have remained unchanged from the previous year. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT. Turnover from the |
sale of goods 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 despatch of the goods. |
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Tangible fixed assets |
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Leasehold improvements | - |
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Plant and machinery | - |
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Furniture and equipment | - |
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Motor vehicles | - |
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Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost |
includes costs directly attributable to making the asset capable of operating as intended. |
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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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ANDANTEX LIMITED (REGISTERED NUMBER: 00359637) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 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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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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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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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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Financial instruments |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, |
they are measured at amortised cost using the effective interest rate method, less impairment. |
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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 income statement. |
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Investments |
Fixed asset investments are stated at cost less provision for diminution in value. |
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Current asset investment |
Current asset investments are stated at market price. |
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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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ANDANTEX LIMITED (REGISTERED NUMBER: 00359637) |
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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 |
Furniture |
Leasehold | Plant and | and | Motor |
improvements | machinery | equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2017 |
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Additions |
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Disposals |
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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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Eliminated on disposal |
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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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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Leasehold |
improvements |
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COST |
Additions |
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At 31 December 2017 |
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DEPRECIATION |
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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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 January 2017 |
and 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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ANDANTEX LIMITED (REGISTERED NUMBER: 00359637) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2017 |
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5. | FIXED ASSET INVESTMENTS - continued |
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The brought forward fixed asset investments represent the company's holding of 2.38% of the ordinary share |
capital of Redex SA, a company incorporated in France and the company's holding of 8.19% of the share capital |
of SECO SAS, a company incorporated in France. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CURRENT ASSET INVESTMENTS |
2017 | 2016 |
£ | £ |
Property |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loan |
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Hire purchase contracts (see note 10) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 10) |
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10. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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ANDANTEX LIMITED (REGISTERED NUMBER: 00359637) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2017 |
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10. | LEASING AGREEMENTS - continued |
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Non-cancellable |
operating leases |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loan |
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Hire purchase contracts | 113,748 | - |
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The hire purchase contracts are secured on the assets concerned. |
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12. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 3,831 | 3,134 |
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Deferred |
tax |
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Balance at 1 January 2017 |
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Charge to Abridged Income Statement during year |
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Balance at 31 December 2017 |
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13. | 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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14. | PENSION COMMITMENTS |
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During the year under review the company made contributions of £17,678 (2016 - £15,876). As at the current |
year end, included within creditors are outstanding contributions totalling £100 (2016 prepaid contributions - |
£399). |
ANDANTEX LIMITED (REGISTERED NUMBER: 00359637) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2017 |
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15. | CAPITAL COMMITMENTS |
2017 | 2016 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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16. | ULTIMATE CONTROLLING PARTY |
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Redex SA (incorporated in France) is regarded by the directors as being the company's ultimate parent company |
and is the only company for which financial statements are drawn up that consolidate this company. These group |
accounts are available to the public from:- |
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Zone Industrielle |
45210 Ferrieres En Gatinais |
France |