| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| FOR |
| SHIELD BATTERIES LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| FOR |
| SHIELD BATTERIES LIMITED |
| SHIELD BATTERIES LIMITED (REGISTERED NUMBER: 01114834) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SHIELD BATTERIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Janelle House |
| Hartham Lane |
| Hertford |
| Hertfordshire |
| SG14 1QN |
| SHIELD BATTERIES LIMITED (REGISTERED NUMBER: 01114834) |
| BALANCE SHEET |
| 30 JUNE 2018 |
| 30.6.18 | 30.6.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| Investment property | 7 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non distributable reserves | 12 |
| 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. |
| SHIELD BATTERIES LIMITED (REGISTERED NUMBER: 01114834) |
| BALANCE SHEET - continued |
| 30 JUNE 2018 |
| 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 |
| SHIELD BATTERIES LIMITED (REGISTERED NUMBER: 01114834) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| 1. | STATUTORY INFORMATION |
| Shield Batteries Limited is a |
| 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 |
| Preparation of consolidated financial statements |
| The financial statements contain information about Shield Batteries Limited as an individual company and do not contain |
| consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies |
| Act 2006 from the requirements to prepare consolidated financial statements. |
| 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 |
| Intangible assets |
| Online development is the capitalisation of website costs, which has been created to generate revenue. This will be amortised |
| evenly over 5 years starting from the first full year in which revenues are generated. The asset will be reviewed each year for |
| any fair value adjustment which may be required. |
| Tangible fixed assets |
| Land & Industrial Building | - |
| Short leasehold | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Aircraft | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is |
| recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
| items. |
| SHIELD BATTERIES LIMITED (REGISTERED NUMBER: 01114834) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| 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 |
| SHIELD BATTERIES LIMITED (REGISTERED NUMBER: 01114834) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| 4. | INTANGIBLE FIXED ASSETS |
| Online |
| Goodwill | development | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2017 |
| and 30 June 2018 |
| AMORTISATION |
| At 1 July 2017 |
| Amortisation for year |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Land & |
| Industrial | Short | Plant and |
| Building | leasehold | machinery |
| £ | £ | £ |
| COST |
| At 1 July 2017 |
| Additions |
| At 30 June 2018 |
| DEPRECIATION |
| At 1 July 2017 |
| Charge for year |
| Eliminated on disposal |
| Reclassification/transfer | ( |
) |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| SHIELD BATTERIES LIMITED (REGISTERED NUMBER: 01114834) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Office | Motor |
| equipment | vehicles | Aircraft | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2017 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 June 2018 |
| DEPRECIATION |
| At 1 July 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| Reclassification/transfer |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 July 2017 |
| and 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| 7. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2017 |
| and 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| SHIELD BATTERIES LIMITED (REGISTERED NUMBER: 01114834) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| 7. | INVESTMENT PROPERTY - continued |
| Fair value at 30 June 2018 is represented by: |
| £ |
| Valuation in 2012 | 1,520 |
| Valuation in 2016 | 95,000 |
| Cost | 453,480 |
| 550,000 |
| If the investment property had not been revalued it would have been included at the following historical cost: |
| 30.6.18 | 30.6.17 |
| £ | £ |
| Cost | 453,480 | 453,480 |
| The investment property was valued on an open market basis on 30 June 2018 by the directors . |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.18 | 30.6.17 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.18 | 30.6.17 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.6.18 | 30.6.17 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more than 5 years by instalments | 2,119 | 19,010 |
| SHIELD BATTERIES LIMITED (REGISTERED NUMBER: 01114834) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.6.18 | 30.6.17 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Bank loans are secured by first mortgages over the company's freehold properties. The bank also holds an unlimited debenture |
| incorporating a fixed and floating charge over the company assets. |
| 12. | RESERVES |
| Non |
| distributable |
| reserves |
| £ |
| At 1 July 2017 |
| Property revaluation | 12,397 |
| At 30 June 2018 |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year the company paid rents totalling £5,000 (2017 £5,000) to a consortium in which Mr D W Butterfield and Mr |
| N D Butterfield, directors of the company, have an interest. The transactions were on a normal arms length basis. This |
| consortium has previously loaned money to the company and these loans are interest free, with no fixed date of repayment. |
| The total sum owed at the balance sheet date was £48,029 (2017 £48,029). |
| During the year Mr P Redburn, a director of the company invoiced £30,306 to the company for accountancy services; these |
| transactions are at arms length. |
| 14. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
| Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
| owned subsidiaries within the group. |
| 15. | ULTIMATE CONTROLLING PARTY |
| The controlling party is D W Butterfield. |
| 16. | ULTIMATE PARENT COMPANY |
| The ultimate parent company is Shield Holdings UK Limited by virtue of its 100% shareholding in Shield Batteries Limited. |