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Financial Statements for the Period 1 May 2017 to 30 September 2018 |
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John Tracey Welding Ltd |
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REGISTERED NUMBER:
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Financial Statements for the Period 1 May 2017 to 30 September 2018 |
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for |
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John Tracey Welding Ltd |
John Tracey Welding Ltd (Registered number: SC194752) |
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Contents of the Financial Statements |
for the Period 1 May 2017 to 30 September 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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John Tracey Welding Ltd |
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Company Information |
for the Period 1 May 2017 to 30 September 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditors |
145 St Vincent Street |
Glasgow |
G2 5JF |
John Tracey Welding Ltd (Registered number: SC194752) |
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Balance Sheet |
30 September 2018 |
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30.9.18 | 30.4.17 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors on
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John Tracey Welding Ltd (Registered number: SC194752) |
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Notes to the Financial Statements |
for the Period 1 May 2017 to 30 September 2018 |
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1. | STATUTORY INFORMATION |
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John Tracey Welding Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The end of the reporting period was extended from 30 April 2018 to 30 September 2018. As 100% of the |
company's share capital was purchased by Malin Group on 1 February 2018 it was decided that the company's |
period end date should be amended to bring it in line with all other companies within Malin Group. As such, |
comparative amounts presented in these financial statements (including related notes) are not entirely |
comparable. |
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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 received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash in hand and bank overdrafts. |
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Debtors |
Trade and other debtors are recognised at the settlement amount due with appropriate allowances for any |
irrecoverable amounts when there is objective evidence the asset is impaired. |
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Creditors |
Trade and other creditors are recognised where the company has a present obligation resulting from a past event |
and are recognised at the settlement amount due after allowing for any trade discounts due. |
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Taxation |
Taxation for the period 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. |
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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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John Tracey Welding Ltd (Registered number: SC194752) |
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Notes to the Financial Statements - continued |
for the Period 1 May 2017 to 30 September 2018 |
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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. |
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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 period 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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 May 2017 |
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Disposals | ( |
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At 30 September 2018 |
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DEPRECIATION |
At 1 May 2017 |
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Charge for period |
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Eliminated on disposal | ( |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 April 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.4.17 |
£ | £ |
Trade debtors |
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Other debtors |
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John Tracey Welding Ltd (Registered number: SC194752) |
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Notes to the Financial Statements - continued |
for the Period 1 May 2017 to 30 September 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.4.17 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.9.18 | 30.4.17 |
£ | £ |
Other creditors |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | ULTIMATE CONTROLLING PARTY |
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Up until 1 February 2018 the controlling parties were John and Isabella Tracey, by virtue of their equal 50% |
holding of the companies issued share capital. |
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From 1 February 2018, the controlling party is Malin Group Limited. |
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The ultimate parent company and controlling party is Malin Group Limited, a company incorporated in Scotland. |
Malin Group Limited owns 100% of the company's issued share capital. |
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Malin Group Limited is the largest group for which consolidated financial statements are prepared which include |
these results. A copy of the consolidated financial statements may be obtained from the registered office: |
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South Rotunda |
100 Govan Road |
Glasgow |
G51 1AY |