Abbreviated Company Accounts - EVOLUTION FASTENERS (UK) LIMITED

EVOLUTION FASTENERS (UK) LIMITED - Company Information

04042865 EVOLUTION FASTENERS (UK) LIMITED 2015-03-31 false 2014-04-01 2015-03-31 true 04042865 2014-04-01 2015-03-31 04042865 2015-03-31 04042865 2014-03-31 04042865 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 04042865 uk-gaap-cd-bus:Director2 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 uk-gaap-cd-bus:PreferenceShareClass1 2014-04-01 2015-03-31 uk-gaap-cd-bus:PreferenceShareClass1 2015-03-31 uk-gaap-cd-bus:PreferenceShareClass1 2014-03-31 uk-gaap-cd-bus:PreferenceShareClass2 2014-04-01 2015-03-31 uk-gaap-cd-bus:PreferenceShareClass2 2015-03-31 uk-gaap-cd-bus:PreferenceShareClass2 2014-03-31 iso4217:GBP shares

Registered Number 04042865

EVOLUTION FASTENERS (UK) LIMITED

Abbreviated Accounts

31 March 2015

EVOLUTION FASTENERS (UK) LIMITED Registered Number 04042865

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	58,508	73,087
Tangible assets	3	246,016	263,426
Investments	4	20,894	20,894
		325,418	357,407
Current assets
Stocks		1,235,372	977,065
Debtors	5	1,159,391	970,392
Cash at bank and in hand		49,061	58,183
		2,443,824	2,005,640
Creditors: amounts falling due within one year	6	(893,455)	(803,629)
Net current assets (liabilities)		1,550,369	1,202,011
Total assets less current liabilities		1,875,787	1,559,418
Creditors: amounts falling due after more than one year	6	(129,615)	(155,583)
Total net assets (liabilities)		1,746,172	1,403,835
Capital and reserves
Called up share capital	7	500,000	500,000
Profit and loss account		1,246,172	903,835
Shareholders' funds		1,746,172	1,403,835

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 14 July 2015

And signed on their behalf by:
Michael Keisner, Director

EVOLUTION FASTENERS (UK) LIMITED Registered Number 04042865

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold Improvement - in accordance with the property
Plant and machinery - 10% - 25% on cost
Testing Laboratory - 8 years
Motor vehicles - 25% on cost

Intangible assets amortisation policy
Intangible assets are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.

Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing
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.

2Intangible fixed assets

	£
Cost
At 1 April 2014	103,531
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	103,531
Amortisation
At 1 April 2014	30,444
Charge for the year	14,579
On disposals	-
At 31 March 2015	45,023
Net book values
At 31 March 2015	58,508
At 31 March 2014	73,087

3Tangible fixed assets

	£
Cost
At 1 April 2014	514,093
Additions	34,622
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	548,715
Depreciation
At 1 April 2014	250,667
Charge for the year	52,032
On disposals	-
At 31 March 2015	302,699
Net book values
At 31 March 2015	246,016
At 31 March 2014	263,426

Included in Testing Laboratory are assets held under hire purchase contracts.The net book value of these assets amount to be £130,923 (2014: 157,104)

4Fixed assets Investments
The company's investments at the Balance Sheet date in the share capital of companies include the following:

Evolution Fasteners Deutschland GmbH
Country of incorporation: Germany
Nature of business: Distribution of Fasteners Products
Class of shares: holding
Ordinary 100%

5Debtors

	2015 £	2014 £
Debtors include the following amounts due after more than one year	468,567	511,510

6Creditors

	2015 £	2014 £
Secured Debts	55,371	90,768

7Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
50,000 Ordinary shares of £1 each	50,000	50,000
200,000 Redeemable Preference A shares of £1 each	200,000	200,000
250,000 Redeemable Preference B shares of £1 each	250,000	250,000

On the 26th June 2015, 100,000 Preference shares of £1 each were issued and fully paid.