REGISTERED NUMBER: 01777602 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Aanco (UK) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A R Gaunt

B Gaunt

Mrs C L Gaunt

REGISTERED OFFICE:

Unit 5a Limeoak Way

St Annes Industrial Estate

Stockton-on-Tees

TS18 2LS

REGISTERED NUMBER:

01777602 (England and Wales)

ACCOUNTANTS:

Davies Tracey

Chartered Accountants and Business Advisers

Swan House

Westpoint Road

Teesdale Business Park

Stockton on Tees

TS17 6BP

FIXED ASSETS

Intangible assets

4

61,465

-

Tangible assets

5

1,420,534

1,016,776

1,481,999

1,016,776

CURRENT ASSETS

Stocks

1,086,415

664,508

Debtors

575,482

451,909

Cash at bank and in hand

1,576,857

972,879

3,238,754

2,089,296

CREDITORS

Amounts falling due within one year

2,278,204

1,691,590

NET CURRENT ASSETS

960,550

397,706

TOTAL ASSETS LESS CURRENT LIABILITIES

2,442,549

1,414,482

CREDITORS

Amounts falling due after more than one year

6

(468,000

)

(404,080

)

PROVISIONS FOR LIABILITIES

(108,786

)

(90,583

)

NET ASSETS

1,865,763

919,819

CAPITAL AND RESERVES

Allotted, called up and fully paid share capital

20,000

20,000

Retained earnings

1,845,763

899,819

SHAREHOLDERS' FUNDS

1,865,763

919,819

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 7 September 2018 and were signed on its behalf by:

A R Gaunt - Director

1.	STATUTORY INFORMATION

Aanco (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

The company's turnover represents the value of goods and services supplied to customers during the year, exclusive of

value added tax.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

in accordance with the lease

Plant and machinery etc

-

20% on cost, 15% on cost, 10% - 20% on cost and 15% - 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 Profit and Loss Account, 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 taxation

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.

Research and development

Research and development expenditure is charged to the profit and loss account as incurred.

Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The

capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account at a

constant rate of charge on the balance of capital repayments outstanding.

Pension costs

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.

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 93 (2016 - 73 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

Additions

61,465

At 31 December 2017

61,465

NET BOOK VALUE

At 31 December 2017

61,465

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

1,412,435

Additions

603,180

At 31 December 2017

2,015,615

DEPRECIATION

At 1 January 2017

395,659

Charge for year

199,422

At 31 December 2017

595,081

NET BOOK VALUE

At 31 December 2017

1,420,534

At 31 December 2016

1,016,776

The net book value of tangible fixed assets includes £ 568,552 (2016 - £ 386,606 ) in respect of assets held under hire

purchase contracts.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2017

2016

£

£

Repayable by instalments

Bank loans over 5 years

88,753

114,810

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

209,194

231,586

Hire purchase contracts

430,781

303,231

639,975

534,817

Bank loans and overdrafts are secured by way of a charge over the assets of the company. Hire purchase liabilities are

secured on the assets to which they relate.

8.	CONTINGENT LIABILITIES

The company guarantees its products for up to ten years. Rectification work is considered to be an ongoing charge but the

company accepts that it has contingent liability to carry out this work. The value of this liability cannot be ascertained with

any accuracy but the company's past experience of rectification work indicates that it will not be material to the reading of

these financial statements and therefore no provision has been made.

9.	CAPITAL COMMITMENTS

2017

2016

£

£

Contracted but not provided for in the

financial statements

115,047

34,200

10.	OTHER FINANCIAL COMMITMENTS

The company had total minimum operating lease commitments of £319,750 at 31 December 2017 (2016 - £86,250).

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors repaid £143,874 in respect of advances made in previous years. All amounts were interest

free.