Company Registration No. 00430163 (England and Wales)
ANDERMAN & COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
ANDERMAN & COMPANY LIMITED
COMPANY INFORMATION
Directors
Mr R T Feeser
Mrs A C Gilbert
Dr J A Verrier
Mrs J Paterson
Mr A Cicchetti
Secretary
Mrs C Verrier
Company number
00430163
Registered office
Unit 117 Oak Drive
Hartlebury Trading Estate
Hartlebury
Kidderminster
DY10 4JB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
8 Canada Square
Canary Wharf
London
E14 5HQ
ANDERMAN & COMPANY LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
ANDERMAN & COMPANY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ANDERMAN & COMPANY LIMITED FOR THE YEAR ENDED 31 DECEMBER 2019
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Anderman & Company Limited for the year ended 31 December 2019 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Anderman & Company Limited, as a body, in accordance with
our
terms
of
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Anderman & Company Limited
and state those matters that we have agreed to state to the Board of Directors of Anderman & Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Anderman & Company Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Anderman & Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and loss of Anderman & Company Limited. You consider that Anderman & Company Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Anderman & Company Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
28 August 2020
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
ANDERMAN & COMPANY LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2019
31 December 2019
- 2 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
16,611
25,504
Investments
4
76
76
16,687
25,580
Current assets
Stocks
360,758
418,370
Debtors
5
2,791,923
2,541,320
Cash at bank and in hand
21,418
27,143
3,174,099
2,986,833
Creditors: amounts falling due within one year
6
(1,505,248)
(1,256,135)
Net current assets
1,668,851
1,730,698
Total assets less current liabilities
1,685,538
1,756,278
Creditors: amounts falling due after more than one year
7
(186,999)
(244,375)
Provisions for liabilities
9
(27)
(3,454)
Net assets
1,498,512
1,508,449
Capital and reserves
Called up share capital
10
18,338
18,338
Share premium account
239,151
239,151
Capital redemption reserve
3,700
3,700
Profit and loss reserves
1,237,323
1,247,260
Total equity
1,498,512
1,508,449
ANDERMAN & COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2019
31 December 2019
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 August 2020 and are signed on its behalf by:
Dr J A Verrier
Director
Company Registration No. 00430163
ANDERMAN & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 4 -
1
Accounting policies
Company information
Anderman & Company Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit 117 Oak Drive, Hartlebury Trading Estate, Hartlebury, Kidderminster, DY10 4JB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated
.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Improvements to property
15% on cost
Warehouse equipment
20% on cost
Office equipment, fixtures and fittings
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
ANDERMAN & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
ANDERMAN & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 6 -
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 15 (2018 - 14).
3
Tangible fixed assets
Improvements to property
Warehouse equipment
Office equipment, fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2019 and 31 December 2019
142,560
17,856
115,021
275,437
Depreciation and impairment
At 1 January 2019
131,854
9,912
108,166
249,932
Depreciation charged in the year
2,471
3,050
3,373
8,894
At 31 December 2019
134,325
12,962
111,539
258,826
Carrying amount
At 31 December 2019
8,235
4,894
3,482
16,611
At 31 December 2018
10,706
7,943
6,855
25,504
ANDERMAN & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
3
Tangible fixed assets
(Continued)
- 7 -
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
2019
2018
£
£
Warehouse equipment
2,065
4,130
4
Fixed asset investments
2019
2018
£
£
Investments
76
76
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 January 2019 & 31 December 2019
76
Carrying amount
At 31 December 2019
76
At 31 December 2018
76
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
733,333
651,302
Amounts owed by group undertakings
1,993,619
1,833,214
Other debtors
64,971
56,804
2,791,923
2,541,320
ANDERMAN & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 8 -
6
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
252,550
295,996
Trade creditors
698,545
614,741
Amounts owed to group undertakings
134,443
139,585
Taxation and social security
65,750
54,474
Other creditors
353,960
151,339
1,505,248
1,256,135
7
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loans and overdrafts
186,999
241,952
Other creditors
-
2,423
186,999
244,375
8
Secured debts
The following secured debts are included within creditors:
2019
2018
£
£
Hire purchase contracts
2,423
4,659
Bank overdrafts
183,707
115,714
Bank loans
255,842
422,234
441,972
542,607
Hire purchase contracts are secured against the assets to which they relate.
9
Provisions for liabilities
2019
2018
£
£
Deferred tax liabilities
27
3,454
ANDERMAN & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 9 -
10
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
183,375 Ordinary of 10p each
18,338
18,338
18,338
18,338
11
Related party transactions
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.
12
Control
Ultimate parent company
The ultimate parent company is Ceramic Products Limited, a company registered in England and Wales.
Ultimate controlling party
The ultimate controlling party is Dr J A Verrier, by virtue of his controlling interest in the ultimate parent company.
2019-12-31
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false
28 August 2020
CCH Software
CCH Accounts Production 2020.200
No description of principal activity
Mr R T Feeser
Mr P D Dimmock
Mrs A C Gilbert
Dr J A Verrier
Mrs J Paterson
Mr A Cicchetti
Mrs C Verrier
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