|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORT OF THE DIRECTORS AND |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 30TH JUNE 2018 |
|
FOR |
|
ANTI-VIBRATION METHODS (RUBBER) CO. LTD |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORT OF THE DIRECTORS AND |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 30TH JUNE 2018 |
|
FOR |
|
ANTI-VIBRATION METHODS (RUBBER) CO. LTD |
ANTI-VIBRATION METHODS (RUBBER) CO. LTD (REGISTERED NUMBER: 02277135) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Report of the Directors | 2 |
|
Balance Sheet | 3 |
|
Notes to the Financial Statements | 4 |
|
ANTI-VIBRATION METHODS (RUBBER) CO. LTD |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Mercury House |
19-21 Chapel Street |
Marlow |
Buckinghamshire |
SL7 3HN |
ANTI-VIBRATION METHODS (RUBBER) CO. LTD (REGISTERED NUMBER: 02277135) |
|
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30TH JUNE 2018 |
|
The directors present their report with the financial statements of the company for the year ended 30th June 2018. |
|
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of manufacturing of rubber to metal bonded and |
other anti-vibration components. |
|
REVIEW OF BUSINESS |
The financial year ending June 2018 has been a good year for Anti Vibration Methods (Rubber) Co. Ltd (AVMR). Revenue |
was expected to remain stable, but has grown by 10%, and our significant investment plans, which have cost well over |
£125k +vat in this year, are on target. |
|
We continued working to a long-term plan which ensures we can reliably and efficiently deliver cutting edge products to |
our target market; focus has been on building the foundations for growth rather than growth itself. The revenue growth |
achieved has been through increased business from current customers, customers who now reliably receive market |
leading product quality, on time. |
Investment projects include: |
|
o | Factory reorganisation to support the introduction of lean manufacturing |
o |
Design and delivery of bespoke factory assets to support improved product quality, production and tooling
efficiency, and to reduce manual handling. |
o |
A major research project developing IP to allow us to make some of the most precise and lightweight products
on the market - due to complete January 2019. |
o | New sales channels will allow a more efficient 24 hour self-serve option for low volume sales - still in progress. |
o | Growing our team to include dedicated inspection and quality management. |
o | Upgrading and embedding our Quality standards to ISO 9001:2015 |
|
Our investment journey is far from over however over the following financial year we will shift focus to revenue growth. |
|
In conclusion, AVMR has invested heavily and has moved into a strong position to attack the market, which we will start |
doing next year. |
|
DIRECTORS |
The directors shown below have held office during the whole of the period from 1st July 2017 to the date of this report. |
|
|
|
|
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
|
ON BEHALF OF THE BOARD: |
|
|
|
|
|
|
|
|
|
ANTI-VIBRATION METHODS (RUBBER) CO. LTD (REGISTERED NUMBER: 02277135) |
|
BALANCE SHEET |
30TH JUNE 2018 |
|
30.6.18 | 30.6.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Revaluation reserve | 7 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The directors acknowledge their 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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
by: |
|
|
|
|
|
|
|
ANTI-VIBRATION METHODS (RUBBER) CO. LTD (REGISTERED NUMBER: 02277135) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2018 |
|
1. | STATUTORY INFORMATION |
|
Anti-Vibration Methods (Rubber) Co. Ltd is a
|
Wales. The company's registered number and registered office address can be found on the Company Information |
page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Motor vehicles | - |
|
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1st July 2017 |
|
|
|
|
Additions |
|
|
|
|
At 30th June 2018 |
|
|
|
|
DEPRECIATION |
At 1st July 2017 |
|
|
|
|
Charge for year |
|
|
|
|
At 30th June 2018 |
|
|
|
|
NET BOOK VALUE |
At 30th June 2018 |
|
|
|
|
At 30th June 2017 |
|
|
|
|
ANTI-VIBRATION METHODS (RUBBER) CO. LTD (REGISTERED NUMBER: 02277135) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2018 |
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.18 | 30.6.17 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
Tax |
|
|
VAT |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.18 | 30.6.17 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Tax |
|
|
Social security and other taxes |
|
|
VAT | - | 7,133 |
Other creditors |
|
|
|
|
|
7. | RESERVES |
Revaluation |
reserve |
£ |
At 1st July 2017 |
and 30th June 2018 |
|
|
8. | RELATED PARTY DISCLOSURES |
|
Hagen Group Limited own 100% of the issued share capital. |
|
Mr D Lawes is a director and shareholder of Hagen Group Ltd. |
|
9. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is Hagen Group Limited. |
|
The ultimate controlling party is
|