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REGISTERED NUMBER: 04109103 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

ADDISON SAWS LIMITED

ADDISON SAWS LIMITED (REGISTERED NUMBER: 04109103)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADDISON SAWS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTORS: G W Knight
M L Russon
Ms A Jones
C Wilson





SECRETARY: Ms A Jones





REGISTERED OFFICE: Attwood Sreet
Lye
Stourbridge
Stourbridge
West Midlands
DY9 8RU





REGISTERED NUMBER: 04109103 (England and Wales)





ACCOUNTANTS: Copia Wealth & Tax Limited
Chartered Accountants
8 Pendeford Place
Pendeford Business Park
Wobaston Road
Wolverhampton
WV9 5HD

ADDISON SAWS LIMITED (REGISTERED NUMBER: 04109103)

BALANCE SHEET
31 MARCH 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 113,161 163,086

CURRENT ASSETS
Stocks 5 929,517 937,220
Debtors 6 1,183,256 1,493,551
Cash at bank and in hand 76,875 137,234
2,189,648 2,568,005
CREDITORS
Amounts falling due within one year 7 2,005,035 2,139,976
NET CURRENT ASSETS 184,613 428,029
TOTAL ASSETS LESS CURRENT
LIABILITIES

297,774

591,115

CREDITORS
Amounts falling due after more than one
year

8

(53,757

)

(86,195

)

PROVISIONS FOR LIABILITIES (475 ) (7,495 )
NET ASSETS 243,542 497,425

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 233,542 487,425
SHAREHOLDERS' FUNDS 243,542 497,425

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.

ADDISON SAWS LIMITED (REGISTERED NUMBER: 04109103)

BALANCE SHEET - continued
31 MARCH 2018


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 13 September 2018 and were signed on its behalf
by:





G W Knight - Director


ADDISON SAWS LIMITED (REGISTERED NUMBER: 04109103)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1. STATUTORY INFORMATION

Addison Saws 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to leasehold property - Over the lease term
Plant and machinery - 10% to 33% on cost
Motor vehicles - 33% on cost
Computer equipment - 33% 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.

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.

ADDISON SAWS LIMITED (REGISTERED NUMBER: 04109103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

2. ACCOUNTING POLICIES - continued

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 35 (2017 - 32 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to
leasehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2017 17,418 118,823 150,467 69,358 356,066
Additions - 1,538 - 9,166 10,704
Disposals - - (42,477 ) - (42,477 )
At 31 March 2018 17,418 120,361 107,990 78,524 324,293
DEPRECIATION
At 1 April 2017 14,202 79,108 39,673 59,997 192,980
Charge for year 1,740 11,179 20,486 6,287 39,692
Eliminated on disposal - - (21,540 ) - (21,540 )
At 31 March 2018 15,942 90,287 38,619 66,284 211,132
NET BOOK VALUE
At 31 March 2018 1,476 30,074 69,371 12,240 113,161
At 31 March 2017 3,216 39,715 110,794 9,361 163,086

ADDISON SAWS LIMITED (REGISTERED NUMBER: 04109103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2017 150,467
Disposals (42,477 )
At 31 March 2018 107,990
DEPRECIATION
At 1 April 2017 39,673
Charge for year 20,486
Eliminated on disposal (21,540 )
At 31 March 2018 38,619
NET BOOK VALUE
At 31 March 2018 69,371
At 31 March 2017 110,794

5. STOCKS
2018 2017
£    £   
Stocks 929,517 937,220

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 527,080 712,932
Amounts owed by group undertakings 505,987 565,645
Other debtors 54,795 38,573
Amounts owed by related companies 83,031 155,922
Prepayments 12,363 20,479
1,183,256 1,493,551

Included within trade debtors are amounts that are held under a sales invoice finance agreement.

ADDISON SAWS LIMITED (REGISTERED NUMBER: 04109103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Hire purchase contracts (see note 9) 15,735 22,894
Trade creditors 1,096,671 1,028,890
Amounts owed to group undertakings - 46,592
Amounts owed to participating interests 3,109 -
Corporation tax 13,194 29,145
Social security and other taxes 283,501 306,087
Other creditors 258,462 263,909
Amount due to invoice discounter 245,017 372,690
Directors' current accounts 19,651 19,651
Accruals and deferred income 69,695 50,118
2,005,035 2,139,976

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Hire purchase contracts (see note 9) 53,757 86,195

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2018 2017
£    £   
Net obligations repayable:
Within one year 15,735 22,894
Between one and five years 53,757 86,195
69,492 109,089

Non-cancellable operating
leases
2018 2017
£    £   
Within one year 106,932 33,454
Between one and five years 116,920 30,219
223,852 63,673

ADDISON SAWS LIMITED (REGISTERED NUMBER: 04109103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

10. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Due to invoice discounter 245,017 372,690

Amounts due to the invoice discounter are secured over the book debts of the company.

The company entered into a cross guarantee and debenture with its parent, Saw Mart Limited dated 7 June 2012.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018 and
31 March 2017:

2018 2017
£    £   
G W Knight
Balance outstanding at start of year (19,651 ) 92,049
Amounts repaid - (111,700 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (19,651 ) (19,651 )

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries with the group.
Sales and recharges totalling £17,015 and purchases totalling £42,569 were made during the year with other
related companies with £3,109 remaining outstanding at 31 March 2018 in respect of these transactions. Loans to
related companies of £83,031 remain outstanding at the year end.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Saw Mart Limited.

The ultimate controlling party is G W Knight.