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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018 |
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Plymouth and Devon Metal Fabrications |
Limited |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018 |
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FOR |
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Plymouth and Devon Metal Fabrications |
Limited |
Plymouth and Devon Metal Fabrications |
Limited (Registered number: 05838902) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 June 2018 |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 8 |
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Plymouth and Devon Metal Fabrications |
Limited |
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COMPANY INFORMATION |
for the year ended 30 June 2018 |
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Director: |
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Registered office: |
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Business address: |
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Registered number: |
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Accountants: |
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129 North Hill |
Plymouth |
Devon |
PL4 8JY |
Plymouth and Devon Metal Fabrications |
Limited (Registered number: 05838902) |
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BALANCE SHEET |
30 June 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
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Tangible assets | 5 |
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Current assets |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 8 |
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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 |
9 |
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Provisions for liabilities | 11 | ( |
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Net assets |
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Capital and reserves |
Called up share capital | 12 |
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Retained earnings |
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Shareholders' funds |
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Plymouth and Devon Metal Fabrications |
Limited (Registered number: 05838902) |
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BALANCE SHEET - continued |
30 June 2018 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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Plymouth and Devon Metal Fabrications |
Limited (Registered number: 05838902) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 June 2018 |
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1. | STATUTORY INFORMATION |
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Plymouth and Devon Metal Fabrications Limited is a private company, limited by shares, |
registered in England and Wales. The company's registered number, registered office |
address and business 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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Turnover |
Turnover is measured at the fair value of the consideration receivable, net of discounts and |
value added taxes. Turnover includes revenue earned from the sale of goods and from the |
rendering of services. Turnover from the sale of goods is recognised when the significant |
risks and rewards of ownership of goods have transferred to the buyer. Turnover from the |
rendering of services is recognised by the reference to the stage of completion of the |
contract. The stage of completion of a contract is measured by comparing the costs incurred |
for work performed to date to the total estimated contract costs. |
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Goodwill |
Goodwill is being written off in equal annual instalments over the directors estimate of its |
useful economic life of 5 years. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment |
losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Stocks |
Stock is valued at the lower of cost and net realisable value. In respect of finished goods and |
work in progress cost includes a relevant proportion of overheads according to the stage of |
completion. Net realisable value represents estimated selling price less costs required to |
sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable |
value is less than cost. |
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Plymouth and Devon Metal Fabrications |
Limited (Registered number: 05838902) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2018 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & |
Loss Account, 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. |
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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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Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), |
less any impairment losses for bad and doubtful debts. Loans and other financial assets are |
initially recognised at transaction price including any transaction costs and subsequently |
measured at amortised cost determined using the effective interest method, less any |
impairment losses for bad and doubtful debts. |
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Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). |
Loans and other financial liabilities are initially recognised at transaction price net of any |
transaction costs and subsequently measured at amortised cost determined using the |
effective interest method. |
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Provisions |
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an |
obligation at the reporting date as a result of a past event, it is probable that economic |
benefit will be transferred to settle the obligation and the amount of the obligation can be |
estimated reliably. |
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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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Plymouth and Devon Metal Fabrications |
Limited (Registered number: 05838902) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
Cost |
At 1 July 2017 |
and 30 June 2018 |
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Amortisation |
At 1 July 2017 |
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Charge for year |
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At 30 June 2018 |
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Net book value |
At 30 June 2018 |
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At 30 June 2017 |
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5. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 July 2017 |
and 30 June 2018 |
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Depreciation |
At 1 July 2017 |
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Charge for year |
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At 30 June 2018 |
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Net book value |
At 30 June 2018 |
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At 30 June 2017 |
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6. | STOCKS |
2018 | 2017 |
£ | £ |
Stocks |
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Work-in-progress |
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Plymouth and Devon Metal Fabrications |
Limited (Registered number: 05838902) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank loans |
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11. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 1,447 | 1,795 |
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Deferred |
tax |
£ |
Balance at 1 July 2017 |
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Utilised during year | ( |
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Balance at 30 June 2018 |
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Plymouth and Devon Metal Fabrications |
Limited (Registered number: 05838902) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2018 |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary shares | £1 | 100 | 100 |
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13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended |
30 June 2018 and 30 June 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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