| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2019 |
| for |
| TS Foundry Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2019 |
| for |
| TS Foundry Ltd |
| TS Foundry Ltd (Registered number: 08738607) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2019 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 |
| TS Foundry Ltd |
| Company Information |
| for the Year Ended 31 March 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Business Advisers |
| 15 Newland |
| Lincoln |
| Lincolnshire |
| LN1 1XG |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| TS Foundry Ltd |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to |
| file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements |
| and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of TS Foundry Ltd for the year ended 31 March 2019 which comprise the Income Statement, |
| Balance Sheet and the related notes from the company's accounting records and from information and explanations you |
| have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of TS Foundry Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of TS Foundry Ltd and state those matters that we have agreed to state to the Board of Directors of TS Foundry Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TS Foundry Ltd and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that TS Foundry Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of TS Foundry Ltd. You consider that TS Foundry Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of TS Foundry Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants & Business Advisers |
| 15 Newland |
| Lincoln |
| Lincolnshire |
| LN1 1XG |
| TS Foundry Ltd (Registered number: 08738607) |
| Balance Sheet |
| 31 March 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| TS Foundry Ltd (Registered number: 08738607) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2019 |
| 1. | STATUTORY INFORMATION |
| TS Foundry Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The Directors have prepared the accounts on a going concern basis. At the year end the company had net |
| current liabilities of £138,370 (2018: £101,128). The Directors believe the going concern basis is appropriate as |
| the company will continue to receive support from its parent company. |
| 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, being the amount paid in connection with the acquisition of intangible business assets in 2013, will be |
| depreciated over 10 years and is reviewed annually by the Directors for impairment. |
| 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 |
| Leasehold Improvements | - |
| Plant and machinery | - |
| Equipment | - |
| Computer equipment | - |
| 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. |
| TS Foundry Ltd (Registered number: 08738607) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
| at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2018 |
| and 31 March 2019 |
| AMORTISATION |
| At 1 April 2018 |
| Charge for year |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Leasehold | Plant and | Computer |
| Improvements | machinery | Equipment | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| TS Foundry Ltd (Registered number: 08738607) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under finance leases are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2018 |
| Additions |
| At 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Finance leases |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Finance leases |
| Other creditors |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Finance leases | 211,475 | 114,583 |
| Other loans | 12,500 | 12,500 |
| TS Foundry Ltd (Registered number: 08738607) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 66,001 | 66,001 |
| 11. | CAPITAL COMMITMENTS |
| 2019 | 2018 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| 12. | RELATED PARTY DISCLOSURES |
| Included in creditors is an amount owed to Mr K R Winn of £12,500 (2018: £12,500), of which Mr S R Winn is a |
| close family relation. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The Company is controlled by Winn Investments Holding Limited, as they own 100% of the shares. |
| The registered office of the controlling party is: |
| 19 Witham Point |
| Wavell Drive |
| Lincoln |
| LN3 4PL |