|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MACLEANS (FOILS) LIMITED |
|
Financial Statements |
|
For The Year Ended 28th February 2018 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MACLEANS (FOILS) LIMITED |
|
Financial Statements |
|
For The Year Ended 28th February 2018 |
|
|
|
|
|
MACLEANS (FOILS) LIMITED (REGISTERED NUMBER: 03965807) |
|
Contents of the Financial Statements |
For The Year Ended 28th February 2018 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
MACLEANS (FOILS) LIMITED |
|
Company Information |
For The Year Ended 28th February 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
INDEPENDENT AUDITORS : |
|
Statutory Auditor |
1-5 Nelson Street |
Southend on Sea |
Essex |
SS1 1EG |
MACLEANS (FOILS) LIMITED (REGISTERED NUMBER: 03965807) |
|
Balance Sheet |
28th February 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
|
|
|
CURRENT ASSETS |
Debtors | 4 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 5 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES |
|
|
NET LIABILITIES | ( |
) | ( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
|
The financial statements were approved by the Board of Directors on
by: |
|
|
|
|
|
|
|
MACLEANS (FOILS) LIMITED (REGISTERED NUMBER: 03965807) |
|
Notes to the Financial Statements |
For The Year Ended 28th February 2018 |
|
|
1. | STATUTORY INFORMATION |
|
Macleans (Foils) Limited is a
|
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 company relies on the continued financial support of the associated company, Friths Flexible Packaging |
Limited. The directors confirm that the financial statements have been prepared on a going concern basis. |
Having paid particular attention to the period of a year from our approval of these financial statements, the |
directors have satisfied themselves that the company will have adequate financial resources so that it is |
appropriate to adopt this basis. |
|
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. |
|
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 | - |
|
|
At each reporting date, fixed assets are reviewed to determine whether there is an indication that those assets |
have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any |
affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, |
the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised |
immediately in profit or loss. |
|
If an impairment subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its |
recoverable amount, but not in excess of the amount that would have been determined had no impairment loss |
been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in profit or |
loss. |
|
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. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
MACLEANS (FOILS) LIMITED (REGISTERED NUMBER: 03965807) |
|
Notes to the Financial Statements - continued |
For The Year Ended 28th February 2018 |
|
|
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. |
|
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. |
|
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. |
|
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. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1st March 2017 |
and 28th February 2018 |
|
DEPRECIATION |
At 1st March 2017 |
|
Charge for year |
|
At 28th February 2018 |
|
NET BOOK VALUE |
At 28th February 2018 |
|
At 28th February 2017 |
|
|
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
|
|
MACLEANS (FOILS) LIMITED (REGISTERED NUMBER: 03965807) |
|
Notes to the Financial Statements - continued |
For The Year Ended 28th February 2018 |
|
|
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
Included in other debtors is the sum of £474,968 (2017: creditors £309,278) secured against trade debtors. |
|
The company is party to a cross-guarantee under an agreement making it liable for any amount owed to ABN |
AMRO Commercial Finance PLC by its parent company, FMS Foils Group Limited and its associate companies, |
Friths Flexible Packaging Limited and SF Williams (Foils) Limited. |
|
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
7. | POST BALANCE SHEET EVENTS |
|
Post 28th February 2018 the trade of the company was hived up into the Company's parent company, FMS Foils |
Group Limited. |
|
8. | ULTIMATE CONTROLLING PARTY |
|
The company is under the control of its parent company, FMS Foils Group Limited. the ultimate controlling |
party is Mr D. Watson who is a director of Macleans (Foils) Limited. |