The Atkinson Dyeing Company Ltd Company Accounts

COMPANY REGISTRATION NUMBER: 01352431

THE ATKINSON DYEING COMPANY LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 April 2018

THE ATKINSON DYEING COMPANY LTD

FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2018

Contents	Pages

Balance sheet 1 to 2

Notes to the financial statements 3 to 7

THE ATKINSON DYEING COMPANY LTD

BALANCE SHEET

30 April 2018

	2018	2017
Note	£	£

Fixed assets

Intangible assets	5	7,500	15,000
Tangible assets	6	178,866	194,419
		------------	------------
		186,366	209,419

Current assets

Stocks	7	48,500	49,250
Debtors	8	141,111	181,383
Cash at bank and in hand		150	15,564
		------------	------------
		189,761	246,197

Creditors: amounts falling due within one year	9	( 265,174)	( 284,105)
		------------	------------
Net current liabilities		( 75,413)	( 37,908)
		------------	------------
Total assets less current liabilities		110,953	171,511

Creditors: amounts falling due after more than one year	10	( 14,298)	( 14,958)

Provisions

Taxation including deferred tax	( 21,100)	( 23,700)
	------------	------------
Net assets	75,555	132,853
	------------	------------

Capital and reserves

Called up share capital	13	3	3
Profit and loss account		75,552	132,850
		------------	------------
Members funds		75,555	132,853
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

THE ATKINSON DYEING COMPANY LTD

BALANCE SHEET (continued)

30 April 2018

These financial statements were approved by the board of directors and authorised for issue on 26 October 2018 , and are signed on behalf of the board by:

Mr N J Wolstenholme Director

Company registration number: 01352431

THE ATKINSON DYEING COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dalton Works, Timber Street, Keighley, West Yorkshire, BD21 4LA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of value added tax.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at the date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% reducing balance
Plant and machinery	-	20% reducing balance
Motor vehicle	-	25% reducing balance
Office equipment	-	20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Leasing and hire purchase contracts

Tangible fixed assets acquired under finance leases and hire purchase contracts are capitalised and depreciated over their effective lives. The outstanding obligations in respect of finance leases and hire purchase contracts, net of finance charges relating to future periods, are included under creditors due within or after one year as appropriate. The finance element of the total obligations is allocated to accounting periods so as to produce a constant periodic rate of charge on the remaining balance of the obligations for each accounting period. Rentals payable under operating leases are charged to the profit and loss account as incurred.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

The company operates defined contribution pension schemes for the benefit of the employees and a director. The assets of the schemes are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 15 (2017: 15 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 May 2017 and 30 April 2018	75,000
	------------
Amortisation
At 1 May 2017	60,000
Charge for the year	7,500
	------------
At 30 April 2018	67,500
	------------
Carrying amount
At 30 April 2018	7,500
	------------
At 30 April 2017	15,000
	------------

6. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Office equipment	Total
	£	£	£	£	£
Cost
At 1 May 2017	84,107	998,156	33,338	13,036	1,128,637
Additions	–	12,608	–	364	12,972
	------------	------------	------------	------------	------------
At 30 April 2018	84,107	1,010,764	33,338	13,400	1,141,609
	------------	------------	------------	------------	------------
Depreciation
At 1 May 2017	17,085	907,313	694	9,126	934,218
Charge for the year	1,340	18,169	8,161	855	28,525
	------------	------------	------------	------------	------------
At 30 April 2018	18,425	925,482	8,855	9,981	962,743
	------------	------------	------------	------------	------------
Carrying amount
At 30 April 2018	65,682	85,282	24,483	3,419	178,866
	------------	------------	------------	------------	------------
At 30 April 2017	67,022	90,843	32,644	3,910	194,419
	------------	------------	------------	------------	------------

7. Stocks

	2018	2017
	£	£
Raw materials and consumables	48,500	49,250
	------------	------------

8. Debtors

	2018	2017
	£	£
Trade debtors	110,658	155,585
Prepayments and accrued income	30,453	25,798
	------------	------------
	141,111	181,383
	------------	------------

9. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank overdraft	12,826	–
Trade creditors	136,742	141,010
Accruals and deferred income	21,673	25,058
Corporation tax	1,200	7,450
Social security and other taxes	18,136	19,724
Obligations under finance leases and hire purchase contracts	10,562	6,946
Invoice finance facility	64,027	83,865
Directors' loan accounts (note 14)	8	52
	------------	------------
	265,174	284,105
	------------	------------

10. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Obligations under finance leases and hire purchase contracts	14,298	14,958
	------------	------------

11. Secured liabilities

	2018	2017
	£	£
Aggregate amount of secured liabilities	101,713	105,769
	------------	------------

12. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2018	2017
	£	£
Included in provisions	21,100	23,700
	------------	------------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2018	2017
	£	£
Accelerated capital allowances	21,100	23,700
	------------	------------

13. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
"A" Ordinary shares of £ 1 each	1	1	1	1
"B" Ordinary shares of £ 1 each	1	1	1	1
	------------	------------	------------	------------
	3	3	3	3
	------------	------------	------------	------------

The different classes of shares rank pari passu in all material respects, save as to dividends.

14. Related party transactions

Transactions with directors The directors' loan accounts of £8 (2017: £52) set out at note 9 above are unsecured and repayable on demand. Interest has been charged on loan advances to the director at a commercial rate. The amount charged in the year was £391 (2017: £1,144). Control of the company There is no one controlling party of the company.