Anglepoise Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05045384 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

ANGLEPOISE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J L Purnell

S R V Terry

A Wade

J R Wakley

SECRETARY:

S R V Terry

REGISTERED OFFICE:

Unit A10 Railway Triangle

Walton Road

Farlington

Hampshire

PO6 1TN

REGISTERED NUMBER:

05045384 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

195,366

172,331

CURRENT ASSETS

Stocks

805,162

1,100,106

Debtors

5

554,363

545,560

Cash at bank and in hand

999,021

264,762

2,358,546

1,910,428

CREDITORS

Amounts falling due within one year

6

(826,964

)

(898,957

)

NET CURRENT ASSETS

1,531,582

1,011,471

TOTAL ASSETS LESS CURRENT LIABILITIES

1,726,948

1,183,802

CREDITORS

Amounts falling due after more than one year

7

(301,824

)

-

NET ASSETS

1,425,124

1,183,802

CAPITAL AND RESERVES

Called up share capital

8

100,000

100,000

Retained earnings

1,325,124

1,083,802

SHAREHOLDERS' FUNDS

1,425,124

1,183,802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2022 and were signed on its behalf by:

S R V Terry - Director

1.	STATUTORY INFORMATION

Anglepoise Limited is a private company, limited by shares , registered in England and 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on cost

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure. The group has not directly benefited from any other forms of government assistance.

Stocks

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

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year 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.

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 balance sheet date.

Deferred tax

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

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2020 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 May 2020

95,160

233,482

331,749

660,391

Additions

1,999

21,592

83,138

106,729

At 30 April 2021

97,159

255,074

414,887

767,120

DEPRECIATION

At 1 May 2020

77,743

168,667

241,650

488,060

Charge for year

4,356

28,800

50,538

83,694

At 30 April 2021

82,099

197,467

292,188

571,754

NET BOOK VALUE

At 30 April 2021

15,060

57,607

122,699

195,366

At 30 April 2020

17,417

64,815

90,099

172,331

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

313,461

224,148

Amounts owed by group undertakings

108,595

230,478

Other debtors

132,307

90,934

554,363

545,560

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

128,089

360,894

Trade creditors

175,747

212,996

Amounts owed to group undertakings

140,272

135,419

Taxation and social security

160,521

81,588

Other creditors

222,335

108,060

826,964

898,957

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

301,824

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100,000

Ordinary shares

£1

100,000

100,000