Caseware UK (AP4) 2016.0.181 2016.0.181 2018-02-282018-02-28The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-03-01Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. 00520618 2017-03-01 2018-02-28 00520618 2016-03-01 2017-02-28 00520618 2018-02-28 00520618 2017-02-28 00520618 c:Director1 2017-03-01 2018-02-28 00520618 c:Director3 2017-03-01 2018-02-28 00520618 d:Buildings 2017-03-01 2018-02-28 00520618 d:Buildings 2018-02-28 00520618 d:Buildings 2017-02-28 00520618 d:Buildings d:OwnedOrFreeholdAssets 2017-03-01 2018-02-28 00520618 d:Buildings d:LongLeaseholdAssets 2018-02-28 00520618 d:Buildings d:LongLeaseholdAssets 2017-02-28 00520618 d:LandBuildings 2018-02-28 00520618 d:LandBuildings 2017-02-28 00520618 d:PlantMachinery 2017-03-01 2018-02-28 00520618 d:FurnitureFittings 2017-03-01 2018-02-28 00520618 d:OtherPropertyPlantEquipment 2017-03-01 2018-02-28 00520618 d:OtherPropertyPlantEquipment 2018-02-28 00520618 d:OtherPropertyPlantEquipment 2017-02-28 00520618 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2017-03-01 2018-02-28 00520618 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2017-03-01 2018-02-28 00520618 d:OwnedOrFreeholdAssets 2017-03-01 2018-02-28 00520618 d:LeasedAssetsHeldAsLessee 2017-03-01 2018-02-28 00520618 d:PatentsTrademarksLicencesConcessionsSimilar 2017-03-01 2018-02-28 00520618 d:PatentsTrademarksLicencesConcessionsSimilar 2018-02-28 00520618 d:PatentsTrademarksLicencesConcessionsSimilar 2017-02-28 00520618 d:CurrentFinancialInstruments 2018-02-28 00520618 d:CurrentFinancialInstruments 2017-02-28 00520618 d:Non-currentFinancialInstruments 2018-02-28 00520618 d:Non-currentFinancialInstruments 2017-02-28 00520618 d:CurrentFinancialInstruments d:WithinOneYear 2018-02-28 00520618 d:CurrentFinancialInstruments d:WithinOneYear 2017-02-28 00520618 d:Non-currentFinancialInstruments d:AfterOneYear 2018-02-28 00520618 d:Non-currentFinancialInstruments d:AfterOneYear 2017-02-28 00520618 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2018-02-28 00520618 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2017-02-28 00520618 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2018-02-28 00520618 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2017-02-28 00520618 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2018-02-28 00520618 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2017-02-28 00520618 d:ShareCapital 2018-02-28 00520618 d:ShareCapital 2017-02-28 00520618 d:OtherMiscellaneousReserve 2018-02-28 00520618 d:OtherMiscellaneousReserve 2017-02-28 00520618 d:RetainedEarningsAccumulatedLosses 2018-02-28 00520618 d:RetainedEarningsAccumulatedLosses 2017-02-28 00520618 d:AcceleratedTaxDepreciationDeferredTax 2018-02-28 00520618 d:AcceleratedTaxDepreciationDeferredTax 2017-02-28 00520618 c:FRS102 2017-03-01 2018-02-28 00520618 c:IndependentExaminationCharity 2017-03-01 2018-02-28 00520618 c:FullAccounts 2017-03-01 2018-02-28 00520618 c:PrivateLimitedCompanyLtd 2017-03-01 2018-02-28 00520618 d:Subsidiary1 2017-03-01 2018-02-28 00520618 d:Subsidiary1 1 2017-03-01 2018-02-28 00520618 d:HirePurchaseContracts d:WithinOneYear 2018-02-28 00520618 d:HirePurchaseContracts d:WithinOneYear 2017-02-28 00520618 d:HirePurchaseContracts d:BetweenOneFiveYears 2018-02-28 00520618 d:HirePurchaseContracts d:BetweenOneFiveYears 2017-02-28 iso4217:GBP xbrli:pure
Registered number: 00520618









A. & E. G. HEADING LIMITED

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018







































 
A. & E. G. HEADING LIMITED
REGISTERED NUMBER: 00520618

BALANCE SHEET
AS AT 28 FEBRUARY 2018

2018
2017
Note
£
£

Fixed assets
  

Intangible fixed assets
 4 
3,848
6,301

Tangible fixed assets
 5 
11,326,347
11,360,249

Investments
 6 
46,567
46,567

  
11,376,762
11,413,117

Current assets
  

Stocks
 7 
2,760,913
2,955,635

Debtors: amounts falling due within one year
 8 
1,345,115
928,090

Current asset investments
 9 
59,291
59,291

Cash at bank and in hand
 10 
39,190
34,526

  
4,204,509
3,977,542

Creditors: amounts falling due within one year
 11 
(2,352,764)
(2,569,603)

Net current assets
  
 
 
1,851,745
 
 
1,407,939

Total assets less current liabilities
  
13,228,507
12,821,056

Creditors: amounts falling due after more than one year
 12 
(5,345,464)
(5,632,313)

Provisions for liabilities
  

Deferred tax
 15 
(184,068)
(180,650)

  
 
 
(184,068)
 
 
(180,650)

Net assets
  
7,698,975
7,008,093

Page 1

 
A. & E. G. HEADING LIMITED
REGISTERED NUMBER: 00520618
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2018

2018
2017
Note
£
£

Capital and reserves
  

Called up share capital 
 16 
13,100
13,100

Other reserves
  
6,027
6,027

Profit and loss account
  
7,679,848
6,988,966

  
7,698,975
7,008,093


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr J E Heading
................................................
Mr M E Heading
Director
Director


Date: 7 November 2018


The notes on pages 3 to 15 form part of these financial statements.

Page 2

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

1.


General information

A & E G Heading Limited is a private company limited by shares and is incorporated in England and Wales.
The address of its registered office is Greenwood House, Greenwood Court, Bury St Edmunds, Suffolk, IP32 7GY.
The address of its principal place of business is Middlefield, Stocking Drove, Chatteris, Cambridgeshire, PE16 6SH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 March 2016 to continue to be charged over the period to the first market rent review rather than the term of the lease.

Page 4

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of comprehensive income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

2.Accounting policies (continued)


2.12
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line or reducing balance basis.

Depreciation is provided on the following bases:

Freehold property
-
5%-10% per annum on a straight line basis
Plant & machinery
-
10%-35% per annum on a reducing balance basis and 10% per annum on a straight line basis
Fixtures & fittings
-
15% per annum on a reducing balance basis
Other fixed assets
-
5%-10% per annum on a straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.13

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.15

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted averagebasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 7

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

2.Accounting policies (continued)

 
2.16

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.18

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.19

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.20

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found,
Page 8

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

2.Accounting policies (continued)


2.20
Financial instruments (continued)

an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2017 - 12).


4.


Intangible assets




Entitlements

£



Cost


At 1 March 2017
7,359



At 28 February 2018

7,359



Amortisation


At 1 March 2017
1,058


Charge for the year
2,453



At 28 February 2018

3,511



Net book value



At 28 February 2018
3,848



At 28 February 2017
6,301

Page 9

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

5.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 March 2017
11,078,726
4,323,396
15,402,122


Additions
63,315
467,912
531,227


Disposals
-
(315,747)
(315,747)



At 28 February 2018

11,142,041
4,475,561
15,617,602



Depreciation


At 1 March 2017
1,691,153
2,350,721
4,041,874


Charge for the year on owned assets
107,230
201,887
309,117


Charge for the year on financed assets
-
109,651
109,651


Disposals
-
(169,386)
(169,386)



At 28 February 2018

1,798,383
2,492,873
4,291,256



Net book value



At 28 February 2018
9,343,658
1,982,688
11,326,346



At 28 February 2017
9,387,574
1,972,675
11,360,249




The net book value of land and buildings may be further analysed as follows:


2018
2017
£
£

Freehold
9,269,627
9,311,821

Long leasehold
74,032
75,753

9,343,659
9,387,574


Page 10

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

6.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 March 2017
4,600
41,967
46,567



At 28 February 2018

4,600
41,967
46,567






Net book value



At 28 February 2018
4,600
41,967
46,567



At 28 February 2017
4,600
41,967
46,567

Subsidiary undertakings

The following were subsidiary undertakings of the Company:

Name
Class of shares
Holding
Principal activity

A & E G Heading (Thorney) Limited
Ordinary
 100%
Dormant




7.


Stocks

2018
2017
£
£

Raw materials
2,760,913
2,955,635






 

Page 11

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

8.


Debtors

2018
2017
£
£


Trade debtors
734,880
516,202

Other debtors
407,186
386,834

Prepayments and accrued income
203,049
25,054

1,345,115
928,090



9.


Current asset investments

2018
2017
£
£

Unlisted investments
59,291
59,291



10.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
39,192
34,526

Less: bank overdrafts
(232,657)
(911,062)

(193,465)
(876,536)


Page 12

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

11.


Creditors: Amounts falling due within one year

2018
2017
£
£

Bank overdrafts
232,657
911,062

Bank loans
248,720
248,720

Trade creditors
675,969
524,334

Amounts owed to other participating interests
4,600
4,600

Corporation tax
164,386
65,533

Other taxation and social security
112,710
90,013

Obligations under finance lease and hire purchase contracts
223,921
214,292

Other creditors
468,696
494,859

Accruals and deferred income
221,105
16,190

2,352,764
2,569,603



12.


Creditors: Amounts falling due after more than one year

2018
2017
£
£

Bank loans
5,300,560
5,549,280

Net obligations under finance leases and hire purchase contracts
44,904
83,033



13.


Loans


Analysis of the maturity of loans is given below:


2018
2017
£
£

Amounts falling due within one year

Bank loans
248,720
248,720

Amounts falling due 1-2 years

Bank loans
248,720
248,720

Amounts falling due 2-5 years

Bank loans
1,481,840
1,520,560

Amounts falling due after more than 5 years

Bank loans
3,570,000
3,780,000

5,549,280
5,798,000


Page 13

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

14.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2018
2017
£
£


Within one year
223,921
214,292

Between 1-2 years
44,904
83,033

268,825
297,325


15.


Deferred taxation




2018


£






At beginning of year
(180,650)


Charged to profit or loss
(3,418)



At end of year
(184,068)

The provision for deferred taxation is made up as follows:

2018
2017
£
£


Accelerated capital allowances
(184,068)
(180,650)


16.


Share capital

2018
2017
£
£
Allotted, called up and fully paid



13,100 (2017 - 13,100) Ordinary shares of £1.00 each
13,100
13,100



17.


Pension commitments

The company operates a defined contributions pension scheme for its employees and also a defined
contributions scheme for one of its directors. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions
payable by the company to the fund and amounted to £17,461 (2017 - £11,841).

Page 14

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

18.


Related party transactions

The balance due to directors at 28 February 2018 was £267,565  (2017 - £477,755).

 
Page 15