Anglepoise Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05045384 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30th April 2017

for

ANGLEPOISE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

A Gilbert

J L Purnell

S R V Terry

A Wade

REGISTERED OFFICE:

Unit A10 Railway Triangle

Walton Road

Farlington

Hampshire

PO6 1TN

REGISTERED NUMBER:

05045384 (England and Wales)

ACCOUNTANTS:

Simpson Wreford & Partners

Chartered Accountants

Suffolk House

George Street

Croydon

Surrey

CR0 0YN

FIXED ASSETS

Property, plant and equipment

4

117,539

118,867

CURRENT ASSETS

Inventories

826,972

902,555

Debtors

5

1,171,742

1,116,249

Cash at bank and in hand

164,113

155,578

2,162,827

2,174,382

CREDITORS

Amounts falling due within one year

6

1,432,188

1,492,419

NET CURRENT ASSETS

730,639

681,963

TOTAL ASSETS LESS CURRENT LIABILITIES

848,178

800,830

PROVISIONS FOR LIABILITIES

8,772

14,571

NET ASSETS

839,406

786,259

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

739,406

686,259

SHAREHOLDERS' FUNDS

839,406

786,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 19th September 2017 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 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.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and

derives from the provision of goods falling within the company's ordinary activities.

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

-

25% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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.

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred.

Development expenditure is written off in the same year unless the directors are satisfied as to the technical,

commercial and financial viability of individual projects. In this situation, the expenditure is deferred and

amortised over the period from which the company is expected to benefit.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1st May 2016

95,160

125,016

173,480

393,656

Additions

-

13,910

36,338

50,248

Disposals

-

-

(1,930

)

(1,930

)

At 30th April 2017

95,160

138,926

207,888

441,974

DEPRECIATION

At 1st May 2016

49,234

98,425

127,130

274,789

Charge for year

9,516

13,006

27,767

50,289

Eliminated on disposal

-

-

(643

)

(643

)

At 30th April 2017

58,750

111,431

154,254

324,435

NET BOOK VALUE

At 30th April 2017

36,410

27,495

53,634

117,539

At 30th April 2016

45,926

26,591

46,350

118,867

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

466,348

559,579

Amounts owed by group undertakings

212,679

336,760

Tax

43,748

-

VAT

42,754

2,390

Prepayments and accrued income

406,213

217,520

1,171,742

1,116,249

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans and overdrafts

642,361

635,094

Trade creditors

574,698

577,525

Tax

-

468

Social security and other taxes

12,917

11,086

Other creditors

11,659

12,181

Directors' current accounts

110,471

100,228

Accrued expenses

80,082

155,837

1,432,188

1,492,419

7.	RELATED PARTY DISCLOSURES

Anglepoise Holdings Limited

Ultimate Parent Company

During the year the company was invoiced £541,887 (2016 - £457,490) in respect of management fees and

royalty payments by Anglepoise Holdings Limited. Trade creditors include an outstanding balance of £97,975

(2016 - £144,500).

Debtors include an inter-company loan balance of £63,159 (2016 - £83,185 creditors).

Anglepoise Inc

Fellow subsidiary company

During the year the company invoiced £XXXX (2016 - £304,729) for sales of stock to Anglepoise Inc. Trade

debtors include an outstanding balance of £16,789 (2016 - £138,719).

Debtors include an inter-company loan balance of £149,520 (2016 - £253,575).

8.	FIRST YEAR ADOPTION

No transitional adjustments were required upon adoption of FRS 102 section 1A.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive

Income and certain other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Anglepoise Limited for the year ended 30th April 2017 which comprise the Income Statement,

Statement of Financial Position, and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Anglepoise Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Anglepoise Limited and state those matters that we have agreed to state to the Board of Directors of Anglepoise Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Anglepoise Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Anglepoise Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Anglepoise Limited. You consider that Anglepoise Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Anglepoise Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Simpson Wreford & Partners

Chartered Accountants

Suffolk House

George Street

Croydon

Surrey

CR0 0YN

19th September 2017