Peak NDT Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03126822 (England and Wales)

Peak NDT Limited

Financial Statements

For The Year Ended 31 March 2018

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

S J J Parke

S W Stephens

M D Symonds

REGISTERED OFFICE:

Unit 1 Enterprise Way

Jubilee Business Park

Derby

DE21 4BB

REGISTERED NUMBER:

03126822 (England and Wales)

FIXED ASSETS

Tangible assets

4

543,167

552,234

CURRENT ASSETS

Stocks

45,000

42,880

Debtors

5

244,477

811,670

Cash at bank and in hand

67,645

468,056

357,122

1,322,606

CREDITORS

Amounts falling due within one year

6

166,446

134,482

NET CURRENT ASSETS

190,676

1,188,124

TOTAL ASSETS LESS CURRENT LIABILITIES

733,843

1,740,358

CREDITORS

Amounts falling due after more than one year

7

(398,668

)

(442,078

)

PROVISIONS FOR LIABILITIES

(62,261

)

(60,059

)

NET ASSETS

272,914

1,238,221

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

272,814

1,238,121

272,914

1,238,221

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 22 October 2018 and were signed on its behalf by:

M D Symonds - Director

1.	STATUTORY INFORMATION

Peak NDT 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 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.

Land and buildings

-

15% on reducing balance and 1% on cost

Plant and machinery etc

-

33% on cost and 15% 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 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.

Deferred tax

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

balance sheet date.

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 11 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2017

593,430

199,667

793,097

Additions

-

22,875

22,875

At 31 March 2018

593,430

222,542

815,972

DEPRECIATION

At 1 April 2017

131,699

109,164

240,863

Charge for year

10,609

21,333

31,942

At 31 March 2018

142,308

130,497

272,805

NET BOOK VALUE

At 31 March 2018

451,122

92,045

543,167

At 31 March 2017

461,731

90,503

552,234

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

164,206

87,417

Amounts recoverable on contract

44,920

27,554

Other debtors

35,351

696,699

244,477

811,670

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

41,195

28,333

Hire purchase contracts

1,690

861

Trade creditors

44,860

39,124

Taxation and social security

12,985

57,771

Other creditors

65,716

8,393

166,446

134,482

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

383,869

425,008

Hire purchase contracts

14,799

17,070

398,668

442,078

8.	RELATED PARTY DISCLOSURES

Included in other creditors (note 6) is £59,000 owing to TBAT Innovation Ltd a 100% subsidiary of the

ultimate parent company TBAT Holdings Ltd.

During the year an amount of £1,026,582 owing from TBAT Holdings Ltd the ultimate parent company,

was written off to the profit and loss as an expense.

During the year an amount of £22,500 owing to Peak NDT Holdings Limited the holding company, was

written off to the profit and loss as an expense.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is TBAT Holdings Ltd.