Surefast Bolting Services Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 10444168 (England and Wales)

Unaudited Financial Statements

for the Period

25 October 2016 to 31 August 2017

for

Surefast Bolting Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Noakes

P Cope

REGISTERED OFFICE:

Unit 1 Delta Trading Estate

Bilston Road

Wolverhampton

West Midlands

WV2 2QD

REGISTERED NUMBER:

10444168 (England and Wales)

ACCOUNTANTS:

Dalton Pardoe Limited

Chartered Accountants

794 High Street

Kingswinford

West Midlands

DY6 8BQ

FIXED ASSETS

Tangible assets

4

45,174

CURRENT ASSETS

Stocks

8,750

Debtors

5

314,696

Cash at bank

31,508

354,954

CREDITORS

Amounts falling due within one year

6

369,434

NET CURRENT LIABILITIES

(14,480

)

TOTAL ASSETS LESS CURRENT LIABILITIES

30,694

CREDITORS

Amounts falling due after more than one year

7

(20,139

)

PROVISIONS FOR LIABILITIES

9

(8,583

)

NET ASSETS

1,972

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

1,872

SHAREHOLDERS' FUNDS

1,972

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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 14 May 2018 and were signed on its behalf by:

R Noakes - Director

1.	STATUTORY INFORMATION

Surefast Bolting Services Ltd 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 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.

Plant and machinery

-

10% on reducing balance

Computer equipment

-

50% on reducing balance

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 period 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 period 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 period was 19 .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

Additions

50,000

349

50,349

At 31 August 2017

50,000

349

50,349

DEPRECIATION

Charge for period

5,000

175

5,175

At 31 August 2017

5,000

175

5,175

NET BOOK VALUE

At 31 August 2017

45,000

174

45,174

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

314,601

Prepayments and accrued income

95

314,696

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Hire purchase contracts

21,279

Trade creditors

16,814

Tax

3,219

Social security and other taxes

13,885

VAT

47,142

Other creditors

237,894

Directors' current accounts

11,893

Accruals and deferred income

17,308

369,434

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

20,139

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Hire purchase contracts

41,419

Factoring

237,894

279,313

Hire purchase liabilities are secured over the assets to which they relate.

The liability to the factoring company is secured over the company's trade debtors.

9.	PROVISIONS FOR LIABILITIES

£

Deferred tax

8,583

Deferred

tax

£

Provided during period

8,583

Balance at 31 August 2017

8,583

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the two directors who each hold 50% of the company's issue share capital.