|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
|
FOR |
|
MECSERFLEX MANUFACTURING COMPANY LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
|
FOR |
|
MECSERFLEX MANUFACTURING COMPANY LIMITED |
MECSERFLEX MANUFACTURING COMPANY LIMITED (REGISTERED NUMBER: 03445536) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
MECSERFLEX MANUFACTURING COMPANY LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
83 Cambridge Street |
London |
SW1V 4PS |
MECSERFLEX MANUFACTURING COMPANY LIMITED (REGISTERED NUMBER: 03445536) |
|
BALANCE SHEET |
31ST DECEMBER 2018 |
|
2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
) |
( |
) |
NET LIABILITIES | ( |
) | ( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Share premium |
|
|
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. |
MECSERFLEX MANUFACTURING COMPANY LIMITED (REGISTERED NUMBER: 03445536) |
|
BALANCE SHEET - continued |
31ST DECEMBER 2018 |
|
|
|
|
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
behalf by: |
|
|
|
|
|
|
|
MECSERFLEX MANUFACTURING COMPANY LIMITED (REGISTERED NUMBER: 03445536) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
|
1. | STATUTORY INFORMATION |
|
Mecserflex Manufacturing Company Limited 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 |
|
|
The directors have prepared the accounts on a going concern basis as they are confident that they will be able to |
either sell parts of the business and derive sale proceeds sufficient to satisfy the working capital requirement of |
the business and/or find financial backers to support the company. |
|
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 |
|
Short leasehold | - |
|
Plant and machinery | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
|
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to |
related parties and investments in non-puttable ordinary shares. |
|
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for |
objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised |
in profit or loss. |
|
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
the asset and settle the liability simultaneously. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
MECSERFLEX MANUFACTURING COMPANY LIMITED (REGISTERED NUMBER: 03445536) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
|
4. | TANGIBLE FIXED ASSETS |
Short | Plant and | Motor | Computer |
leasehold | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st January 2018 |
and 31st December 2018 |
|
|
|
|
|
DEPRECIATION |
At 1st January 2018 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
At 31st December 2018 |
|
|
|
|
|
NET BOOK VALUE |
At 31st December 2018 |
|
|
|
|
|
At 31st December 2017 |
|
|
|
|
|
|
5. | DEBTORS |
2018 | 2017 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
|
|
Other debtors |
|
|
Directors' current accounts | 86,767 | 86,767 |
VAT |
|
|
|
|
|
Amounts falling due after more than one year: |
Tax |
|
|
|
Aggregate amounts |
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
Accrued expenses |
|
|
|
|
MECSERFLEX MANUFACTURING COMPANY LIMITED (REGISTERED NUMBER: 03445536) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Bank loans - 1-2 years |
|
|
Amounts owed to group undertakings |
|
|
|
|
|
8. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2018 | 2017 |
£ | £ |
Loan from Group Undertaking | 561,819 | 561,819 |
|
The loan secured by a debenture dated 21 September 2010 over all the assets of the company. |
|
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to a director subsisted during the years ended 31st December 2018 and |
31st December 2017: |
|
2018 | 2017 |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts repaid |
|
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
10. | RELATED PARTY DISCLOSURES |
|
As at 31 December 2018 the company owed Chiswell Finance Ltd, the holding company, £561,819 (2017: |
£561,819) The loan is secured by a debenture.No interest is charged in the year. |
|
During the year the company had use of land owned by L & Mrs CAA Llewellyn on a rent free basis. |