IRIS Accounts Production v18.3.0.592 00837346 Board of Directors 1.4.17 31.3.18 31.3.18 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure008373462017-03-31008373462018-03-31008373462017-04-012018-03-31008373462016-03-31008373462016-04-012017-03-31008373462017-03-3100837346ns15:EnglandWales2017-04-012018-03-3100837346ns14:PoundSterling2017-04-012018-03-3100837346ns10:Director12017-04-012018-03-3100837346ns10:PrivateLimitedCompanyLtd2017-04-012018-03-3100837346ns10:SmallEntities2017-04-012018-03-3100837346ns10:AuditExempt-NoAccountantsReport2017-04-012018-03-3100837346ns10:SmallCompaniesRegimeForDirectorsReport2017-04-012018-03-3100837346ns10:SmallCompaniesRegimeForAccounts2017-04-012018-03-3100837346ns10:FullAccounts2017-04-012018-03-3100837346ns10:Director22017-04-012018-03-3100837346ns10:Director32017-04-012018-03-3100837346ns10:Director42017-04-012018-03-3100837346ns10:Director52017-04-012018-03-3100837346ns10:CompanySecretary12017-04-012018-03-3100837346ns10:RegisteredOffice2017-04-012018-03-3100837346ns5:CurrentFinancialInstruments2018-03-3100837346ns5:CurrentFinancialInstruments2017-03-3100837346ns5:Non-currentFinancialInstruments2018-03-3100837346ns5:Non-currentFinancialInstruments2017-03-3100837346ns5:ShareCapital2018-03-3100837346ns5:ShareCapital2017-03-3100837346ns5:RevaluationReserve2018-03-3100837346ns5:RevaluationReserve2017-03-3100837346ns5:CapitalRedemptionReserve2018-03-3100837346ns5:CapitalRedemptionReserve2017-03-3100837346ns5:RetainedEarningsAccumulatedLosses2018-03-3100837346ns5:RetainedEarningsAccumulatedLosses2017-03-3100837346ns5:LandBuildingsns5:OwnedOrFreeholdAssets2017-04-012018-03-3100837346ns5:PlantMachinery2017-04-012018-03-3100837346ns5:MotorVehicles2017-04-012018-03-3100837346ns5:LandBuildings2017-03-3100837346ns5:PlantMachinery2017-03-3100837346ns5:MotorVehicles2017-03-3100837346ns5:LandBuildings2017-04-012018-03-3100837346ns5:LandBuildings2018-03-3100837346ns5:PlantMachinery2018-03-3100837346ns5:MotorVehicles2018-03-3100837346ns5:LandBuildings2017-03-3100837346ns5:PlantMachinery2017-03-3100837346ns5:MotorVehicles2017-03-3100837346ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2017-03-3100837346ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2017-04-012018-03-3100837346ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2018-03-3100837346ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2017-03-3100837346ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-03-3100837346ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-03-3100837346ns5:CurrentFinancialInstrumentsns5:HirePurchaseContractsns5:WithinOneYear2018-03-3100837346ns5:CurrentFinancialInstrumentsns5:HirePurchaseContractsns5:WithinOneYear2017-03-3100837346ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2018-03-3100837346ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2017-03-3100837346ns5:HirePurchaseContracts2018-03-3100837346ns5:HirePurchaseContracts2017-03-3100837346ns5:WithinOneYear2018-03-3100837346ns5:WithinOneYear2017-03-3100837346ns5:BetweenOneFiveYears2018-03-3100837346ns5:BetweenOneFiveYears2017-03-3100837346ns5:AllPeriods2018-03-3100837346ns5:AllPeriods2017-03-3100837346ns5:Secured2018-03-3100837346ns5:Secured2017-03-3100837346ns5:RevaluationReserve2017-03-31


REGISTERED NUMBER: 00837346 (England and Wales)
























FRANKLIN SILENCERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018






FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

CONTENTS OF THE 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 7


FRANKLIN SILENCERS LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2018







DIRECTORS: G Bateman
Mrs J Bateman
J Bateman
D Weisenberger
D Bateman





SECRETARY: J Bateman





REGISTERED OFFICE: 1 Grafton Place
Grafton Street Industrial Estate
Northampton
Northamptonshire
NN1 2PS





REGISTERED NUMBER: 00837346 (England and Wales)





ACCOUNTANTS: Haines Watts (SEM) Limited
26-28 Headlands
Kettering
Northamptonshire
NN15 7HP

FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

BALANCE SHEET
31 March 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 697,617 721,370

CURRENT ASSETS
Stocks 296,584 289,587
Debtors 5 802,352 782,850
Cash at bank and in hand 13,639 953
1,112,575 1,073,390
CREDITORS
Amounts falling due within one year 6 726,409 820,757
NET CURRENT ASSETS 386,166 252,633
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,083,783

974,003

CREDITORS
Amounts falling due after more than one
year

7

(11,631

)

(18,690

)

PROVISIONS FOR LIABILITIES (25,665 ) (123,468 )
NET ASSETS 1,046,487 831,845

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 10 156,491 156,491
Capital redemption reserve 607 607
Retained earnings 879,389 664,747
SHAREHOLDERS' FUNDS 1,046,487 831,845

FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

BALANCE SHEET - continued
31 March 2018


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 9 November 2018 and were signed on its behalf
by:





J Bateman - Director


FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2018


1. STATUTORY INFORMATION

Franklin Silencers 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
In accordance with the principles of revenue recognition as stated in FRS 102, turnover is calculated by
reference to the transfer of the risks and rewards of ownership of the goods and to the stage of completion of
the transaction as at the end of the accounting period, including estimates of amounts not yet invoiced.

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.
Freehold property - 1% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% 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.

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.

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.

FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2017 - 48 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2017 683,075 1,795,849 31,740 2,510,664
Additions - 56,544 - 56,544
At 31 March 2018 683,075 1,852,393 31,740 2,567,208
DEPRECIATION
At 1 April 2017 199,358 1,566,683 23,253 1,789,294
Charge for year 6,831 71,344 2,122 80,297
At 31 March 2018 206,189 1,638,027 25,375 1,869,591
NET BOOK VALUE
At 31 March 2018 476,886 214,366 6,365 697,617
At 31 March 2017 483,717 229,166 8,487 721,370

Freehold property is included at a valuation by Messrs Hadland, Chartered Surveyors, on 17 March 1989 plus
subsequent improvements at cost. This valuation has not been updated in accordance with the transitional
provisions of FRS 102.

Tangible fixed assets included at a valuation would have been included on a historical cost basis at:

Cost £476,686 (2016 £476,686)
Depreciation £155,265 (2016 £150,498)
Net book value £321,421 (2016 £326,188)

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2017
and 31 March 2018 49,269
DEPRECIATION
At 1 April 2017 16,012
Charge for year 8,314
At 31 March 2018 24,326
NET BOOK VALUE
At 31 March 2018 24,943
At 31 March 2017 33,257

FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2018


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 776,395 767,533
Prepayments 25,957 15,317
802,352 782,850

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 212,581 312,049
Hire purchase contracts (see note 8) 7,059 11,036
Trade creditors 367,032 328,323
Tax 28,761 61,301
Social security and other taxes 33,258 32,169
VAT 69,026 67,162
Directors' current accounts 217 217
Accruals and deferred income 8,475 8,500
726,409 820,757

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Hire purchase contracts (see note 8) 11,631 18,690

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2018 2017
£    £   
Net obligations repayable:
Within one year 7,059 11,036
Between one and five years 11,631 18,690
18,690 29,726

Non-cancellable operating
leases
2018 2017
£    £   
Within one year 25,000 25,000
Between one and five years 25,000 50,000
50,000 75,000

FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2018


9. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Hire purchase contracts 18,690 29,726
Discounted debt advance 212,650 312,049
231,340 341,775

The bank overdraft is secured by a debenture incorporating a fixed and floating charge over the commercial
freehold property and all book debts and other debts of the company.

The advance in respect of discounted debt is secured by a legal charge incorporating a fixed and floating
charge over the commercial freehold property and all book debts and other debts of the company.

The hire purchase contracts are secured on the assets to which they relate.

10. RESERVES
Revaluation
reserve
£   
At 1 April 2017
and 31 March 2018 156,491

11. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors.