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REGISTERED NUMBER: 03543677 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

FOLLY MILL FASTENERS LIMITED

FOLLY MILL FASTENERS LIMITED (REGISTERED NUMBER: 03543677)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOLLY MILL FASTENERS LIMITED

COMPANY INFORMATION
for the year ended 30 April 2018







DIRECTORS: J D Petyt
Mrs T Petyt



SECRETARY: Mrs T Petyt



REGISTERED OFFICE: Unit 5 The Cobalt Centre
Kineton Road
Southam
Warwickshire
CV47 0FD



REGISTERED NUMBER: 03543677 (England and Wales)



BANKERS: National Westminster Bank Plc
Royal Priors
59 The Parade
Leamington Spa
Warwickshire
CV32 4ZX

FOLLY MILL FASTENERS LIMITED (REGISTERED NUMBER: 03543677)

BALANCE SHEET
30 April 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,747 39,470
Investment property 5 251,062 -
282,809 39,470

CURRENT ASSETS
Stocks 140,151 148,995
Debtors 6 211,468 169,909
Cash at bank and in hand 80,864 196,446
432,483 515,350
CREDITORS
Amounts falling due within one year 7 279,548 157,090
NET CURRENT ASSETS 152,935 358,260
TOTAL ASSETS LESS CURRENT
LIABILITIES

435,744

397,730

PROVISIONS FOR LIABILITIES 8 4,428 5,666
NET ASSETS 431,316 392,064

CAPITAL AND RESERVES
Called up share capital 9 102 102
Retained earnings 10 431,214 391,962
SHAREHOLDERS' FUNDS 431,316 392,064

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

FOLLY MILL FASTENERS LIMITED (REGISTERED NUMBER: 03543677)

BALANCE SHEET - continued
30 April 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 24 October 2018 and were signed on its behalf by:





J D Petyt - Director


FOLLY MILL FASTENERS LIMITED (REGISTERED NUMBER: 03543677)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2018

1. STATUTORY INFORMATION

Folly Mill Fasteners 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and
remain unchanged from the previous year.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal
course of business. Revenue is recognised in respect of service contracts when the company obtains the right to
consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

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.

FOLLY MILL FASTENERS LIMITED (REGISTERED NUMBER: 03543677)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2018

2. ACCOUNTING POLICIES - continued

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.

Financial instruments
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,
financial instruments are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2017
and 30 April 2018 11,175 26,645 2,060
DEPRECIATION
At 1 May 2017 4,274 12,581 742
Charge for year 1,117 2,110 198
At 30 April 2018 5,391 14,691 940
NET BOOK VALUE
At 30 April 2018 5,784 11,954 1,120
At 30 April 2017 6,901 14,064 1,318

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2017
and 30 April 2018 52,105 21,753 113,738
DEPRECIATION
At 1 May 2017 37,453 19,218 74,268
Charge for year 3,663 635 7,723
At 30 April 2018 41,116 19,853 81,991
NET BOOK VALUE
At 30 April 2018 10,989 1,900 31,747
At 30 April 2017 14,652 2,535 39,470

FOLLY MILL FASTENERS LIMITED (REGISTERED NUMBER: 03543677)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2018

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 251,062
At 30 April 2018 251,062
NET BOOK VALUE
At 30 April 2018 251,062

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 211,291 169,732
Other debtors 177 177
211,468 169,909

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 145,979 117,576
Taxation and social security 27,600 36,591
Other creditors 105,969 2,923
279,548 157,090

8. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax
Accelerated capital allowances 4,428 5,666

Deferred
tax
£   
Balance at 1 May 2017 5,666
Credit to Income Statement during year (1,238 )
Balance at 30 April 2018 4,428

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
100 Ordinary A £1 100 100
2 Ordinary B £1 2 2
102 102

FOLLY MILL FASTENERS LIMITED (REGISTERED NUMBER: 03543677)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2018

10. RESERVES
Retained
earnings
£   

At 1 May 2017 391,962
Profit for the year 51,252
Dividends (12,000 )
At 30 April 2018 431,214

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of certain employees. The scheme and
its assets are held by independent managers. The pension charge represents contributions due from the company
and amounted to £886 (2017 - £1,057).

12. RELATED PARTY DISCLOSURES

J D Petyt and Mrs T Petyt

The company's directors.


During the year the company rented property from the directors. The rent amounted to £5,196 (2017 - £5,196).

Follymill Engineering Limited

A company in which J D Petyt and Mrs T Petyt are directors.


2018 2017
£    £   
Amount due to related party at the balance sheet date 121,029 6,727

13. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in
respect of the financial and operating policies of the company.