Bignall Lubritec Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01249631 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

FOR

BIGNALL LUBRITEC LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Report of the Accountants

8

DIRECTORS:

J R Bignall

O Bignall

F A Sand

SECRETARY:

J R Bignall

REGISTERED OFFICE:

Butler House

Haughton Green

Darlington

County Durham

DL1 2DD

REGISTERED NUMBER:

01249631 (England and Wales)

ACCOUNTANTS:

McCready Page Accountants

511 Durham Road

Low Fell

Gateshead

Tyne and Wear

NE9 5EY

FIXED ASSETS

Intangible assets

2

20,920

24,412

Tangible assets

3

450,632

339,727

Investments

4

72,876

71,912

544,428

436,051

CURRENT ASSETS

Stocks

698,578

623,883

Debtors

657,239

664,329

Cash at bank and in hand

244,744

309,813

1,600,561

1,598,025

CREDITORS

Amounts falling due within one year

540,209

560,043

NET CURRENT ASSETS

1,060,352

1,037,982

TOTAL ASSETS LESS CURRENT LIABILITIES

1,604,780

1,474,033

PROVISIONS FOR LIABILITIES

68,795

68,795

NET ASSETS

1,535,985

1,405,238

CAPITAL AND RESERVES

Called up share capital

5

54,200

54,400

Share premium

36,000

37,800

Capital redemption reserve

127,075

126,875

Profit and loss account

1,318,710

1,186,163

SHAREHOLDERS' FUNDS

1,535,985

1,405,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 January 2015 and were signed on its behalf by:

J R Bignall - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of twenty years.

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% - 33% on cost

Motor vehicles

-

25% on reducing balance

Office equipment

-

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.

Deferred tax

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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

balance sheet 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.

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 the profit and loss account in the period to which they relate.

Deferred government grants

Government grants in respect of capital expenditure are treated as deferred income and are credited to the profit

and loss account over the estimated useful economic life of the assets to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

and 30 April 2014

69,796

AMORTISATION

At 1 May 2013

45,384

Amortisation for year

3,492

At 30 April 2014

48,876

NET BOOK VALUE

At 30 April 2014

20,920

At 30 April 2013

24,412

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

862,036

Additions

190,572

Disposals

(14,844

)

At 30 April 2014

1,037,764

DEPRECIATION

At 1 May 2013

522,309

Charge for year

78,180

Eliminated on disposal

(13,357

)

At 30 April 2014

587,132

NET BOOK VALUE

At 30 April 2014

450,632

At 30 April 2013

339,727

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2013

and 30 April 2014

10,064

NET BOOK VALUE

At 30 April 2014

10,064

At 30 April 2013

10,064

Investments (neither listed nor unlisted) were as follows:

30/4/14

30/4/13

£

£

Other

63,538

61,848

Investment revaluation

(726

)

-

62,812

61,848

The company's investments at the balance sheet date in the share capital of companies include the following:

Masterlube Systems Limited

Nature of business: Dormant

%

Class of shares:

holding

Ordinary £1 Shares

100.00

Preference £1 Shares

100.00

Co-B-Tech UK Limited

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

Bignall Lubritec Inc

Country of incorporation: USA

Nature of business: Dormant

%

Class of shares:

holding

Ordinary £1 Shares

100.00

5.	CALLED UP SHARE CAPITAL

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to seven)

have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended

30 April 2014 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to

fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

McCready Page Accountants

511 Durham Road

Low Fell

Gateshead

Tyne and Wear

NE9 5EY

30 January 2015