Thew Arnott & Co.Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00718598 (England and Wales)

Financial Statements

for the Year Ended 31 March 2018

for

THEW ARNOTT & CO.LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Directors:

A E F Newman

R F Newman

Mrs V A Newman

C E Crossley

P M Jupp

G P Stuart-Brown

M B Watson

Registered office:

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Registered number:

00718598 (England and Wales)

Auditors:

Haines Watts

Chartered Accountants

Statutory Auditor

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

486,727

487,516

486,727

487,516

Current assets

Stocks

788,358

885,664

Debtors

6

2,887,469

2,865,710

Cash at bank

624,910

320,036

4,300,737

4,071,410

Creditors

Amounts falling due within one year

7

2,531,717

2,354,735

Net current assets

1,769,020

1,716,675

Total assets less current liabilities

2,255,747

2,204,191

Provisions for liabilities

31,395

25,514

Net assets

2,224,352

2,178,677

Capital and reserves

Called up share capital

8

76

76

Capital redemption reserve

24

24

Retained earnings

2,224,252

2,178,577

Shareholders' funds

2,224,352

2,178,677

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 5 July 2018 and were signed on its behalf by:

R F Newman - Director

1.	Statutory information

Thew Arnott & Co.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 company's principal place of business is located at 270 London Road, Wallington, Surrey, SM6 7DJ.

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.

The financial statements have been prepared in accordance with applicable accounting standards.

Key source of estimation, uncertainty and judgement

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will,

by definition, seldom equal the related actual results. The estimates and assumptions that have a significant

risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial

year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic

lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually.

They are amended when necessary to reflect current estimates, based on technological advancement, future

investments, economic utilisation and the physical condition of the assets.

(ii) Impairment of intangible assets

The company makes an estimate of the recoverable value of intangible assets. When assessing impairment of

intangible assets, management considers multiple factors regarding their recoverability.

(iii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing

impairment of trade and other debtors, management considers multiple factors regarding their recoverability.

(iv) Stock provisioning

When calculating the stocks provision, management considers the nature and condition of the stock, as well as

applying assumptions around anticipating saleability of finished goods.

Turnover

Turnover represents sales to customers at invoiced amounts less value added tax or local taxes on sales.

Turnover is recognised at the point the risk and rewards of ownership of the goods have transferred to the

customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been fully written

down over its estimated useful life of two 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.

Land and buildings

-

over the length of the lease

Plant and machinery etc

-

25% straight line, 20% on cost and 15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first

in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion

and disposal.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 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.

Government grants

Government grants are recognised based on the accrual model specified in FRS 102.

3.	Employees and directors

The average number of employees during the year was 35 (2017 - 32 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2017

and 31 March 2018

1,000

Amortisation

At 1 April 2017

and 31 March 2018

1,000

Net book value

At 31 March 2018

-

At 31 March 2017

-

5.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 April 2017

223,452

1,332,606

1,556,058

Additions

-

110,194

110,194

Disposals

-

(162,397

)

(162,397

)

At 31 March 2018

223,452

1,280,403

1,503,855

Depreciation

At 1 April 2017

26,776

1,041,766

1,068,542

Charge for year

1,788

104,348

106,136

Eliminated on disposal

-

(157,550

)

(157,550

)

At 31 March 2018

28,564

988,564

1,017,128

Net book value

At 31 March 2018

194,888

291,839

486,727

At 31 March 2017

196,676

290,840

487,516

6.

Debtors: amounts falling due within one year

2018

2017

£

£

Trade debtors

2,588,157

2,125,564

Amounts owed by group undertakings

209,620

657,502

Other debtors

89,692

82,644

2,887,469

2,865,710

7.

Creditors: amounts falling due within one year

2018

2017

£

£

Trade creditors

2,023,019

1,670,822

Taxation and social security

344,470

264,649

Other creditors

164,228

419,264

2,531,717

2,354,735

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

76

Ordinary

£1

76

76

9.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

James Clark BA (Hons) ACA (Senior Statutory Auditor)

for and on behalf of Haines Watts

10.	Contingent liabilities

The bank has guaranteed deferment duty to HM Revenue and Customs on the basis of £82,431 (2017 £82,431)

held on behalf of Thew Arnott & Co Limited in a separate bank account.

11.	Related party disclosures

The company rents its business premises from the company's Self Administered Pension Scheme, the

beneficiaries of which are directors of the company.

During the year the company paid a net total of £193,758 (2017: £184,221) to the Scheme with regard to this

arrangement.

At the balance sheet date the company was due a net total of £8,248 (2017 £3,519) from the Scheme with

regard to this arrangement, included in other debtors.

The company is a wholly owned subsidiary of Thew Arnott Group Limited a company registered at Aissela, 46

High Street, Esher, Surrey, United Kingdom, KT10 9QY.

12.	Financial commitments and off balance sheet arrangements

Operating lease commitments which are not included in the balance sheet amount to £766,154 (2017:

£987,404) payable over the next seven (2017: eight) years.

13.

Pensions

The company contributes to defined contribution pension schemes for certain members of staff and directors.

The assets of the schemes are held separately from those of the company in independently administered funds.

The pension charge amounted to £67,774 (2017 £56,921).