Gliderol Garage & Industrial Doors Ltd - Accounts to registrar (filleted) - small 18.2
Gliderol Garage & Industrial Doors Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2019 |
for |
Gliderol Garage & Industrial Doors |
Limited |
Gliderol Garage & Industrial Doors |
Limited (Registered number: 02076659) |
Contents of the Financial Statements |
for the year ended 30 April 2019 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Gliderol Garage & Industrial Doors |
Limited |
Company Information |
for the year ended 30 April 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3-5 Grange Terrace |
Stockton Road |
Sunderland |
Tyne & Wear |
SR2 7DG |
BANKERS: |
49 High Street |
Stockton |
Cleveland |
TS18 1AH |
Gliderol Garage & Industrial Doors |
Limited (Registered number: 02076659) |
Statement of Financial Position |
30 April 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 11 |
Retained earnings |
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. |
Gliderol Garage & Industrial Doors |
Limited (Registered number: 02076659) |
Statement of Financial Position - continued |
30 April 2019 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
Gliderol Garage & Industrial Doors |
Limited (Registered number: 02076659) |
Notes to the Financial Statements |
for the year ended 30 April 2019 |
1. | STATUTORY INFORMATION |
Gliderol Garage & Industrial Doors Limited is a |
Wales. The 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 financial statements have been prepared on the going concern basis, which assume that the company will |
continue in operational existence for the foreseeable future, which the director considers appropriate. |
Turnover |
Turnover represents net sales of goods, excluding value added tax. |
Tangible fixed assets |
Plant & machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net |
realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow |
moving, obsolete or damaged stock where the net realisable value is less than cost. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial |
instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their |
settlement value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
Retained Earnings, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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. |
Gliderol Garage & Industrial Doors |
Limited (Registered number: 02076659) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
2. | ACCOUNTING POLICIES - continued |
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 profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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. |
Foreign currencies |
Foreign currency transactions are treated and disclosed in accordance with SSAP 20 in that assets and liabilities |
in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. |
Transactions undertaken in foreign currencies are translated into sterling at the rate of exchange ruling at the |
date of the transaction. Exchange differences are taken into account in arriving at the operating result. |
Government grants |
Capital government grants are treated as deferred credits and credited to the profit and loss account over the |
estimated useful life of the relevant fixed assets. Government grants relating to employment are written off over |
the period of the project. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 May 2018 |
and 30 April 2019 |
AMORTISATION |
At 1 May 2018 |
and 30 April 2019 |
NET BOOK VALUE |
At 30 April 2019 |
At 30 April 2018 |
Gliderol Garage & Industrial Doors |
Limited (Registered number: 02076659) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant & | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 May 2018 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2019 |
DEPRECIATION |
At 1 May 2018 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2019 |
NET BOOK VALUE |
At 30 April 2019 |
At 30 April 2018 |
Cost or valuation at 30 April 2019 is represented by: |
Fixtures |
Plant & | and |
machinery | fittings | Totals |
£ | £ | £ |
Valuation in 2018 | 298,261 | 1,739 | 300,000 |
Valuation in 2019 | 75,895 | 4,527 | 80,422 |
374,156 | 6,266 | 380,422 |
If plant and machinery had not been revalued it would have been included at the following historical cost: |
2019 | 2018 |
£ | £ |
Cost | 53,936 | 53,936 |
Aggregate depreciation | 32,980 | 32,980 |
Plant and machinery was valued on open market basis on 20 September 2016 by Richmond Asset Advisory Limited |
. |
Gliderol Garage & Industrial Doors |
Limited (Registered number: 02076659) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts (see note 9) |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2019 | 2018 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating |
leases |
2019 | 2018 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
Gliderol Garage & Industrial Doors |
Limited (Registered number: 02076659) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2019 | 2018 |
£ | £ |
Hire purchase contracts | 44,140 | - |
Aldermore Bank PLC | 345,776 | 330,479 |
Amounts due to Aldermore Bank PLC in respect of advances made under an invoice discounting agreement are |
secured on trade debtor balances. |
Hire purchase contracts are secured on the assets to which they relate. |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 May 2018 |
and 30 April 2019 |