REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abbreviated Unaudited Accounts |
|
for the Year Ended 31 March 2015 |
|
for |
|
Norton Motorcycles (UK) Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abbreviated Unaudited Accounts |
|
for the Year Ended 31 March 2015 |
|
for |
|
Norton Motorcycles (UK) Limited |
Norton Motorcycles (UK) Limited (Registered number: 06718623) |
|
|
|
|
|
|
Contents of the Abbreviated Accounts |
for the Year Ended 31 March 2015 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Abbreviated Balance Sheet | 2 |
|
Notes to the Abbreviated Accounts | 4 |
|
Chartered Accountants' Report | 8 |
Norton Motorcycles (UK) Limited |
|
Company Information |
for the Year Ended 31 March 2015 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
|
|
|
|
Norton Motorcycles (UK) Limited (Registered number: 06718623) |
|
Abbreviated Balance Sheet |
31 March 2015 |
|
2015 | 2014 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
|
|
Tangible assets | 3 |
|
|
Investments | 4 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
5 |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 6 |
|
|
Profit and loss account |
|
|
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. |
Norton Motorcycles (UK) Limited (Registered number: 06718623) |
|
Abbreviated Balance Sheet - continued |
31 March 2015 |
|
|
|
|
|
The financial statements were approved by the Board of Directors on
its behalf by: |
|
|
|
|
|
|
|
Norton Motorcycles (UK) Limited (Registered number: 06718623) |
|
Notes to the Abbreviated Accounts |
for the Year Ended 31 March 2015 |
|
1. | ACCOUNTING POLICIES |
|
Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance |
with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
Preparation of consolidated financial statements |
The financial statements contain information about Norton Motorcycles (UK) Limited as an individual |
company and do not contain consolidated financial information as the parent of a group. The company |
has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated |
financial statements. |
|
Turnover |
Turnover represents net invoiced sales relating to the principle activities and other related activities |
excluding value added tax. |
|
Goodwill |
|
|
Tangible fixed assets |
|
|
Tooling | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
Office & computer equipment | - |
|
|
Tooling expenditure is depreciated once the asset has been brought into operational use. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
|
Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not |
reversed at the balance sheet date. |
|
Development |
Development expenditure is capitalised where the project is technically, commercially and financially |
viable. The expenditure is deferred and amortised over the period the company is expected to benefit. |
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet date unless settled at a contracted rate. Transactions in foreign currencies are |
translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences |
are taken into account in arriving at the operating result. |
|
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. |
|
The interest element of these obligations is charged to the profit and loss account over the relevant |
period. The capital element of the future payments is treated as a liability. |
Norton Motorcycles (UK) Limited (Registered number: 06718623) |
|
Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2015 |
|
2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2014 |
|
Additions |
|
At 31 March 2015 |
|
AMORTISATION |
At 1 April 2014 |
|
Amortisation for year |
|
At 31 March 2015 |
|
NET BOOK VALUE |
|
At 31 March 2015 |
|
At 31 March 2014 |
|
|
3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2014 |
|
Additions |
|
At 31 March 2015 |
|
DEPRECIATION |
At 1 April 2014 |
|
Charge for year |
|
At 31 March 2015 |
|
NET BOOK VALUE |
At 31 March 2015 |
|
At 31 March 2014 |
|
Norton Motorcycles (UK) Limited (Registered number: 06718623) |
|
Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2015 |
|
4. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
£ |
COST |
At 1 April 2014 |
and 31 March 2015 | 1,823,563 |
PROVISIONS |
Impairments | 64,976 |
At 31 March 2015 | 64,976 |
NET BOOK VALUE |
At 31 March 2015 |
|
At 31 March 2014 |
|
|
Investments (neither listed nor unlisted) were as follows: |
2015 | 2014 |
as |
restated |
£ | £ |
Other assets |
|
50,000 |
|
The company's investments at the Balance Sheet date in the share capital of companies include the |
following: |
|
Subsidiaries |
|
|
Country of incorporation:
|
Nature of business:
|
% |
Class of shares: | holding |
Investment capital | 100.00 |
|
|
£ | £ |
Aggregate capital and reserves | 2,535,270 | 2,535,270 |
|
|
Nature of business:
|
% |
Class of shares: | holding |
Ordinary A shares | 100.00 |
Ordinary B shares | 100.00 |
|
|
£ | £ |
Aggregate capital and reserves | 69,696 | 45,934 |
Profit for the year | 23,762 | 18,531 |
Norton Motorcycles (UK) Limited (Registered number: 06718623) |
|
Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2015 |
|
4. | FIXED ASSET INVESTMENTS - continued |
|
Associated company |
|
|
Nature of business:
|
% |
Class of shares: | holding |
Ordinary | 50.00 |
31/8/14 | 31/8/13 |
£ | £ |
Aggregate capital and reserves | 452,548 | 205,418 |
Profit for the year/period | 247,130 | 15,438 |
|
5. | CREDITORS |
|
Creditors include an amount of £
|
|
They also include the following debts falling due in more than five years: |
|
2015 | 2014 |
as |
restated |
£ | £ |
Repayable otherwise than by instalments | 1,101,360 | 1,101,360 |
|
6. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: |
as
restated |
£ | £ |
|
Ordinary | £1 |
|
|
|
7. | ULTIMATE PARENT COMPANY |
|
The immediate and ultimate parent company is Norton Motorcycle Holdings Limited which owns 100% |
of the issued share capital of Norton Motorcycles (UK) Limited. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Norton Motorcycles (UK) Limited |
|
The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on |
pages two to seven) have been prepared. |
|
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
the financial statements of Norton Motorcycles (UK) Limited for the year ended 31 March 2015 which |
comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's |
accounting records and from information and explanations you have given us. |
|
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 at icaew.com/membershandbook. |
|
This report is made solely to the Board of Directors of Norton Motorcycles (UK) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Norton Motorcycles (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Norton Motorcycles (UK) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
|
It is your duty to ensure that Norton Motorcycles (UK) 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 loss of Norton Motorcycles (UK) Limited. You consider that Norton Motorcycles (UK) Limited is exempt from the statutory audit requirement for the year. |
|
We have not been instructed to carry out an audit or a review of the financial statements of Norton |
Motorcycles (UK) 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. |
|
|
|
|
|
|
|
Chartered Accountants |
|
|
|
|
|
|
31 December 2015 |