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REGISTERED NUMBER:
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ABLE LIFTING GEAR (SWANSEA) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2018 |
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REGISTERED NUMBER:
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ABLE LIFTING GEAR (SWANSEA) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2018 |
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ABLE LIFTING GEAR (SWANSEA) LIMITED (REGISTERED NUMBER: 01216462) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
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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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Chartered Accountants' Report | 8 |
ABLE LIFTING GEAR (SWANSEA) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Langdon House |
Langdon Road |
SA1 Swansea Waterfront |
Swansea |
SA1 8QY |
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BANKERS: |
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134 High Street |
Stourbridge |
West Midlands |
DY8 1DS |
ABLE LIFTING GEAR (SWANSEA) LIMITED (REGISTERED NUMBER: 01216462) |
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BALANCE SHEET |
30 APRIL 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 and in hand |
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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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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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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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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) |
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. |
ABLE LIFTING GEAR (SWANSEA) LIMITED (REGISTERED NUMBER: 01216462) |
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BALANCE SHEET - continued |
30 APRIL 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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ABLE LIFTING GEAR (SWANSEA) LIMITED (REGISTERED NUMBER: 01216462) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
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1. | STATUTORY INFORMATION |
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Able Lifting Gear (Swansea) 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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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, 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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Fixtures and fittings | - |
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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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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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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. |
ABLE LIFTING GEAR (SWANSEA) LIMITED (REGISTERED NUMBER: 01216462) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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 the profit and loss account 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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Investments |
Shares in subsidiary undertakings in which the company has a controlling interest are stated at cost |
less any provisions for impairment. |
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Debtors |
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. |
Prepayments are valued at the amount prepaid net of any trade discounts due. |
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Cash at bank and in hand |
Cash at bank and cash in hand includes cash and short term highly liquid investments held within a |
deposit or similar account. |
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Creditors and provisions |
Creditors and provisions are recognised where the Company has a present obligation resulting from a |
past event that will probably result in the transfer of funds to a third party and the amount due to settle |
the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised |
at their settlement amount after allowing for any trade discounts due. |
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Presentational and functional currency |
The presentational and functional currency is £ sterling. |
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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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ABLE LIFTING GEAR (SWANSEA) LIMITED (REGISTERED NUMBER: 01216462) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2017 |
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Additions |
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Disposals | ( |
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At 30 April 2018 |
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DEPRECIATION |
At 1 May 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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Included in fixed assets is £28,981 (2017: £38,641) of assets held on hire purchase. |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
Additions |
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At 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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ABLE LIFTING GEAR (SWANSEA) LIMITED (REGISTERED NUMBER: 01216462) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Hire purchase contracts | 17,298 | 28,367 |
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The hire purchase contracts are secured on the assets to which they relates. |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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During the year the company made total advances of £34,288 to the director, of which £34,262 has |
been repaid. At the end of the reporting period the director was in debit of £21 |
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11. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £57,053 were paid to the director . |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
ABLE LIFTING GEAR (SWANSEA) LIMITED |
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The following reproduces the text of the report prepared for the director in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain |
other primary statements and the Report of the Director are not required to be filed with the Registrar |
of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
the financial statements of Able Lifting Gear (Swansea) Limited for the year ended 30 April 2018 which |
comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the |
company's accounting records and from information and explanations you have given us. |
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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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of Able Lifting Gear (Swansea) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Able Lifting Gear (Swansea) Limited and state those matters that we have agreed to state to the director of Able Lifting Gear (Swansea) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Able Lifting Gear (Swansea) Limited and its director for our work or for this report. |
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It is your duty to ensure that Able Lifting Gear (Swansea) 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 profit of Able Lifting Gear (Swansea) Limited. You consider that Able Lifting Gear (Swansea) Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Able Lifting Gear (Swansea) 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. |
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Chartered Accountants |
Langdon House |
Langdon Road |
SA1 Swansea Waterfront |
Swansea |
SA1 8QY |
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