REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
FOR |
PENDLE ENGINEERING LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
FOR |
PENDLE ENGINEERING LIMITED |
PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PENDLE ENGINEERING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Charter House |
Stansfield Street |
Nelson |
Lancashire |
BB9 9XY |
PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627) |
BALANCE SHEET |
30TH SEPTEMBER 2018 |
30.9.18 | 30.9.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627) |
BALANCE SHEET - continued |
30TH SEPTEMBER 2018 |
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 by: |
PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
1. | STATUTORY INFORMATION |
Pendle Engineering Limited is a |
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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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. |
Intangible fixed assets |
Acquired brands which could be sold separately from the rest of the business are capitalised and amortised over |
their useful economic lives of 3 years. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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. |
PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Grants |
Grants in respect of capital expenditure are credited to a deferred income account and are released to the Profit |
and Loss Account by equal annual instalments over the expected useful lives of the relevant assets. |
PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
2. | ACCOUNTING POLICIES - continued |
Employer-financed retirement benefit scheme (efrbs) |
The company has established trusts for the benefit of employees and persons |
connected with them. Monies held in these trusts are held by independent trustees |
and managed at their discretion. The trustees are empowered to provide both |
retirement and other employee benefits. |
Where the company retains future economic benefit from, and has de facto control |
of the assets and liabilities of the trust, they are accounted for as assets and |
liabilities of the company until the earlier of the date that an allocation of trust funds |
to employees in respect of past services is declared and the date that assets of the |
trust vest in identified individuals. |
Where monies held in a trust are determined by the company on the basis of |
employees’ past services to the business and the company can obtain no future |
economic benefit from those monies, such monies, whether in the trust or accrued |
for by the company are charged to the profit and loss account in the period to which |
they relate. |
Where monies held in a trust are determined by the company on the basis of |
employees’ past services to the business and are payable after completion of the |
employment, such monies are charged to the profit and loss account in the period |
during which services are rendered by employees. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st October 2017 |
and 30th September 2018 |
AMORTISATION |
At 1st October 2017 |
and 30th September 2018 |
NET BOOK VALUE |
At 30th September 2018 |
At 30th September 2017 |
PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1st October 2017 |
Additions |
At 30th September 2018 |
DEPRECIATION |
At 1st October 2017 |
Charge for year |
At 30th September 2018 |
NET BOOK VALUE |
At 30th September 2018 |
At 30th September 2017 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1st October 2017 |
Additions |
At 30th September 2018 |
DEPRECIATION |
At 1st October 2017 |
Charge for year |
At 30th September 2018 |
NET BOOK VALUE |
At 30th September 2018 |
At 30th September 2017 |
PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
At 1st October 2017 |
Transfer to ownership | (33,525 | ) |
At 30th September 2018 |
DEPRECIATION |
At 1st October 2017 |
Charge for year |
Transfer to ownership | (13,411 | ) |
At 30th September 2018 |
NET BOOK VALUE |
At 30th September 2018 |
At 30th September 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Trade debtors |
Other debtors |
EFRBS asset | 80 | 80 |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 85,005 | 115,591 |
Other creditors |
Directors' current accounts | 1,264 | 1,264 |
Accrued expenses |
PENDLE ENGINEERING LIMITED (REGISTERED NUMBER: 04078627) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2018 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.18 | 30.9.17 |
£ | £ |
Bank loans |
Hire purchase contracts | 57,093 | 100,333 |