Trent Scales Limited - Accounts to registrar - small 17.2

TRENT SCALES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M R Brown

REGISTERED OFFICE:

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

REGISTERED NUMBER:

00795004 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Intangible assets

4

6,500

8,500

Tangible assets

5

23,930

18,717

30,430

27,217

CURRENT ASSETS

Stocks

11,225

15,365

Debtors

6

162,003

107,133

Cash at bank

4,059

1,979

177,287

124,477

CREDITORS

Amounts falling due within one year

7

143,724

106,895

NET CURRENT ASSETS

33,563

17,582

TOTAL ASSETS LESS CURRENT LIABILITIES

63,993

44,799

CREDITORS

Amounts falling due after more than one year

8

(8,907

)

-

PROVISIONS FOR LIABILITIES

10

(2,592

)

(1,011

)

NET ASSETS

52,494

43,788

CAPITAL AND RESERVES

Called up share capital

11

20,800

20,800

Share premium

1,200

1,200

Retained earnings

30,494

21,788

SHAREHOLDERS' FUNDS

52,494

43,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 1 November 2017 and were signed by:

M R Brown - Director

1.	STATUTORY INFORMATION

Trent Scales 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Software

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost and 25% on cost

Stocks

Stocks 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 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

10,000

AMORTISATION

At 1 April 2016

1,500

Charge for year

2,000

At 31 March 2017

3,500

NET BOOK VALUE

At 31 March 2017

6,500

At 31 March 2016

8,500

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

Software

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

6,000

7,275

8,495

1,005

22,775

Additions

-

-

14,742

-

14,742

Disposals

-

-

(4,000

)

-

(4,000

)

At 31 March 2017

6,000

7,275

19,237

1,005

33,517

DEPRECIATION

At 1 April 2016

1,125

1,091

1,593

249

4,058

Charge for year

1,219

1,455

4,024

331

7,029

Eliminated on disposal

-

-

(1,500

)

-

(1,500

)

At 31 March 2017

2,344

2,546

4,117

580

9,587

NET BOOK VALUE

At 31 March 2017

3,656

4,729

15,120

425

23,930

At 31 March 2016

4,875

6,184

6,902

756

18,717

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

14,742

At 31 March 2017

14,742

DEPRECIATION

Charge for year

2,150

At 31 March 2017

2,150

NET BOOK VALUE

At 31 March 2017

12,592

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

101,011

67,721

Other debtors

60,992

39,412

162,003

107,133

Trade debtors include amounts subject to invoice discounting of £92,226 (2016: £67,721).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

3,685

-

Trade creditors

90,056

69,870

Taxation and social security

44,325

29,453

Other creditors

5,658

7,572

143,724

106,895

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

8,907

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

12,592

-

Close Brothers Invoice Finance

69,631

50,256

82,223

50,256

Amounts owed to Close Brothers for invoice discounting are secured on the trade debtors of the company.

Amounts owed on hire purchase are secured against the assets concerned.

10.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

2,592

1,011

Deferred

tax

£

Balance at 1 April 2016

1,011

Accelerated capital allowances

1,581

Balance at 31 March 2017

2,592

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2017

2016

value:

£

£

20,800

Ordinary

£1

20,800

20,800

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

M R Brown

Balance outstanding at start of year

-

-

Amounts advanced

17,126

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17,126

-

13.	FIRST YEAR ADOPTION

The policies applied under the entity's previous accounting framework are not materially different to FRS 102

1A and have not impacted on equity or profit and loss.