Registered number
02474209
Actreg (UK) Limited
Report and Unaudited Accounts
31 December 2017
Actreg (UK) Limited
Registered number: 02474209
Balance Sheet
as at 31 December 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 36,059 28,474
Investments 4 100 100
36,159 28,574
Current assets
Stocks 54,743 62,923
Debtors 5 419,921 533,038
Cash at bank and in hand 295,058 285,137
769,722 881,098
Creditors: amounts falling due within one year 6 (216,211) (307,990)
Net current assets 553,511 573,108
Total assets less current liabilities 589,670 601,682
Provisions for liabilities (6,112) (4,351)
Net assets 583,558 597,331
Capital and reserves
Called up share capital 40,000 40,000
Profit and loss account 543,558 557,331
Shareholders' funds 583,558 597,331
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S C Marshall
Director
Approved by the board on 25 April 2018
Actreg (UK) Limited
Notes to the Accounts
for the year ended 31 December 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery and office equipment 20% reducing balance
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stock and work in progress
Stock and work in progress are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 10 11
3 Tangible fixed assets
Plant, machinery and office equipment Motor vehicles Total
£ £ £
Cost
At 1 January 2017 117,219 132,167 249,386
Additions 1,709 21,666 23,375
Disposals - (21,180) (21,180)
At 31 December 2017 118,928 132,653 251,581
Depreciation
At 1 January 2017 106,215 114,697 220,912
Charge for the year 3,179 8,841 12,020
On disposals - (17,410) (17,410)
At 31 December 2017 109,394 106,128 215,522
Net book value
At 31 December 2017 9,534 26,525 36,059
At 31 December 2016 11,004 17,470 28,474
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2017 100
At 31 December 2017 100
5 Debtors 2017 2016
£ £
Trade debtors 330,925 458,526
Amounts owed by group undertakings and undertakings in which the company has a participating interest 66,036 53,049
Other debtors 22,960 21,463
419,921 533,038
6 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 157,338 196,948
Corporation tax 39,440 74,973
Director's loan 2,444 2,444
Other taxes and social security costs 12,890 29,475
Other creditors 4,099 4,150
216,211 307,990
7 Related party transactions
Interest free loan from related parties' 2,444 2,444
Directors' remuneration 138,936 156,141
Dividends paid to related parties' 186,200 178,200
Actreg (UK) Directors Pension Fund
Pension scheme in which S C Marshall and M Unwin are members
Rent paid to related party 17,250 17,250
DTZ Pension Fund
Pension scheme in which R G McGeachy is a member
Rent paid to related party 8,650 8,244
Anglia Valves & Controls Limited
Directors in common
Sales made to related party 42,182 35,672
Sales ledger balance due from the related party 2,440 12,145
Koei Limited
Directors in common
Inter company balance due from related party 9,741 9,741
Sales made to related party 547 -
Sales ledger balance due from the related party 3,656 3,000
Purchases made from related party - 8,492
Radlett Valves Limited
Directors in common
Subsidiary of Actreg (UK) Limited
Sales during the year 2,937 735
Sales ledger balance due from the related party - 150
Purchases made from related party - 25
Loan to related party 66,036 53,049
8 Controlling party
The company's controlling party was the directors, S C Marshall, M Unwin and R McGeachy who each owned one third of the issued share capital.
9 Other information
Actreg (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2, Henson Close
Telford Way Industrial Estate
Kettering
Northants
NN16 8PZ
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