REGISTERED NUMBER: 01451336 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

A. C. Belting Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

J Cooper

REGISTERED OFFICE:

58 Kingsholm Road

Gloucester

Gloucestershire

GL1 3BQ

REGISTERED NUMBER:

01451336 (England and Wales)

ACCOUNTANTS:

HATS Gloucester Ltd

The White House

162 Hucclecote Road

Hucclecote

Gloucester

Gloucestershire

GL3 3SH

BANKERS:

Lloyds Bank

19 Eastgate Street

Gloucester

Gloucestershire

GL1 1NU

FIXED ASSETS

Tangible assets

4

9,613

4,421

CURRENT ASSETS

Stocks

21,133

20,152

Debtors

5

18,517

40,253

Cash at bank and in hand

55,700

57,970

95,350

118,375

CREDITORS

Amounts falling due within one year

6

91,460

121,248

NET CURRENT ASSETS/(LIABILITIES)

3,890

(2,873

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,503

1,548

PROVISIONS FOR LIABILITIES

1,826

880

NET ASSETS

11,677

668

CAPITAL AND RESERVES

Called up share capital

100

100

Profit and loss account

11,577

568

SHAREHOLDERS' FUNDS

11,677

668

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 5 May 2017 and were signed by:

J Cooper - Director

1.	STATUTORY INFORMATION

A. C. Belting 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 property

-

10% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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 that have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

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 4 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 January 2016

15,561

15,963

9,171

8,394

49,089

Additions

-

-

10,503

1,900

12,403

Disposals

-

-

(9,171

)

(800

)

(9,971

)

At 31 December 2016

15,561

15,963

10,503

9,494

51,521

Depreciation

At 1 January 2016

15,561

15,411

5,302

8,394

44,668

Charge for year

-

83

2,626

633

3,342

Eliminated on disposal

-

-

(5,302

)

(800

)

(6,102

)

At 31 December 2016

15,561

15,494

2,626

8,227

41,908

Net book value

At 31 December 2016

-

469

7,877

1,267

9,613

At 31 December 2015

-

552

3,869

-

4,421

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases

are as follows:

Improveme

to

property

£

Cost

At 1 January 2016

and 31 December 2016

15,561

Depreciation

At 1 January 2016

and 31 December 2016

15,561

Net book value

At 31 December 2016

-

At 31 December 2015

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Trade debtors

17,452

38,340

Other debtors

1,065

1,913

18,517

40,253

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Trade creditors

19,682

28,695

Taxation and social security

8,876

10,997

Other creditors

62,902

81,556

91,460

121,248

7.	RELATED PARTY DISCLOSURES

The director has loaned funds to the company. At 31 December 2016, the company owed the director

£7,105 (2015 - £9,743).

The director's parents, Mr A and Mrs C Cooper, who are shareholders in the company, have also

loaned funds to the company. At 31 December 2016, the company owed Mr and Mrs Cooper £54,517

(2015 - £70,517).

The above loans, included within other creditors, are interest free and have no fixed repayment date.