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Unaudited Financial Statements |
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for the Year Ended 31 December 2017 |
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for |
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Advanced Material Processing Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2017 |
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for |
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Advanced Material Processing Limited |
Advanced Material Processing Limited (Registered number: SC511266) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
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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 | 4 |
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Advanced Material Processing Limited |
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Company Information |
for the Year Ended 31 December 2017 |
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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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ACCOUNTANTS: |
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Accountants |
15 Gladstone Place |
Stirling |
FK8 2NN |
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BANKERS: |
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2 Pitt Terrace |
Stirling |
FK8 2EX |
Advanced Material Processing Limited (Registered number: SC511266) |
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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Advanced Material Processing Limited (Registered number: SC511266) |
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Balance Sheet - continued |
31 December 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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Advanced Material Processing Limited (Registered number: SC511266) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Advanced Material Processing Limited is a
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Scotland. The company's registered number and registered office 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 |
These financial statements have been prepared in accordance with the provisions of Section 1A |
"Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable |
in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been |
prepared under the historical cost convention. |
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The company has transitioned to FRS 102 from previously extant UK GAAP as at 21 July 2015. The |
reported financial position and financial performance for the previous period are not affected by the |
transition to FRS 102. |
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Significant judgements and estimates |
The preparation of Financial Statements required management to make judgements, estimates and |
assumptions that affect the application of accounting policies and reported amount of assets, |
liabilities, income and expenses. Actual results may differ from these estimates. Estimates and |
assumptions are reviewed on an ongoing basis and revisions to estimates are recognised in the period |
in which the estimate is revised and in any future periods affected. |
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The directors are of the opinion there are no matters of significant judgement and estimation which |
are material to the financial statements. |
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Turnover |
Turnover consists of the sales value, excluding VAT, of work in the period under contracts to supply |
services to third parties. It includes the relevant proportion of contract value for performance up to |
the period end. |
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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 |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
Advanced Material Processing Limited (Registered number: SC511266) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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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 year was
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4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2017 |
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Additions |
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Disposals | ( |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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Advanced Material Processing Limited (Registered number: SC511266) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
At 1 January 2017 |
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Additions |
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Disposals | ( |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | STOCKS |
2017 | 2016 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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Advanced Material Processing Limited (Registered number: SC511266) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 9) |
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Trade creditors |
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Social security and other taxes |
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VAT | 34,287 | 10,489 |
Directors' current accounts | 98,900 | 98,900 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 9) |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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Advanced Material Processing Limited (Registered number: SC511266) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Hire purchase | 2,030,361 | 1,199,445 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary shares | £1 | 100 | 100 |
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12. | RELATED PARTY DISCLOSURES |
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Mr A Carey |
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Amount due to the related party at the balance sheet date is £49,950. |
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Mr K O'Kane |
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Amount due to the related party at the balance sheet date is £48,950. |
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The above balances are unsecured, interest fee and repayable on demand. |
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13. | ULTIMATE CONTROLLING PARTY |
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The company was under the control of the directors during the period. |