REGISTERED NUMBER: 04590415 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Laser Cutting - Ceramics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Greaves

Ms A A Somerset-Greaves

SECRETARY:

J E Miller

REGISTERED OFFICE:

Wide Range Works

42 Catley Road

Sheffield

S9 5JF

REGISTERED NUMBER:

04590415 (England and Wales)

ACCOUNTANTS:

Camplejohn Rowan

CFC House

Acorn Business Park

Woodseats Close

Sheffield

South Yorkshire

S8 0TB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

200,172

174,192

200,172

174,192

CURRENT ASSETS

Stocks

48,796

44,493

Debtors

6

115,619

71,252

Cash at bank and in hand

74,328

57,191

238,743

172,936

CREDITORS

Amounts falling due within one year

7

(100,249

)

(92,531

)

NET CURRENT ASSETS

138,494

80,405

TOTAL ASSETS LESS CURRENT LIABILITIES

338,666

254,597

CREDITORS

Amounts falling due after more than one year

8

(13,553

)

-

PROVISIONS FOR LIABILITIES

(16,748

)

(11,640

)

NET ASSETS

308,365

242,957

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

308,265

242,857

SHAREHOLDERS' FUNDS

308,365

242,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 February 2019 and were signed on its behalf by:

D Greaves - Director

1.	STATUTORY INFORMATION

Laser Cutting - Ceramics 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.

Goodwill

Goodwill is capitalised and is amortised over its estimated useful life by the straight line method.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

30% 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

1,003

AMORTISATION

At 1 January 2018

and 31 December 2018

1,003

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2018

153,150

228,478

11,121

12,044

404,793

Additions

-

40,009

1,091

4,097

45,197

Disposals

-

(28,677

)

(52

)

(1,217

)

(29,946

)

At 31 December 2018

153,150

239,810

12,160

14,924

420,044

DEPRECIATION

At 1 January 2018

45,050

168,018

9,653

7,880

230,601

Charge for year

3,063

10,676

319

1,628

15,686

Eliminated on disposal

-

(26,061

)

(10

)

(344

)

(26,415

)

At 31 December 2018

48,113

152,633

9,962

9,164

219,872

NET BOOK VALUE

At 31 December 2018

105,037

87,177

2,198

5,760

200,172

At 31 December 2017

108,100

60,460

1,468

4,164

174,192

Assets held under hire purchase agreements had a net book value at the year end of £38,008 (2017: £nil).

Depreciation charged on these assets during the year totalled £2,000 (2017: £nil).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

109,006

64,290

Other debtors

109

900

Prepayments

6,504

6,062

115,619

71,252

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

(108

)

18,363

Hire purchase contracts

17,924

-

Trade creditors

26,980

26,441

Tax

21,869

25,199

Social security and other taxes

6,759

6,103

VAT

23,955

13,626

Other creditors

520

286

Accrued expenses

2,350

2,513

100,249

92,531

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

13,553

-

9.	ULTIMATE CONTROLLING PARTY

The controlling party is D Greaves.