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Financial Statements for the Year Ended 31 May 2017 |
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Fondel Alloys Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 May 2017 |
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for |
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Fondel Alloys Limited |
Fondel Alloys Limited (Registered number: 07478794) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Report of the Accountants | 6 |
Fondel Alloys Limited |
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Company Information |
for the Year Ended 31 May 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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61a Blagden Street |
Sheffield |
South Yorkshire |
S2 5QS |
Fondel Alloys Limited (Registered number: 07478794) |
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Balance Sheet |
31 May 2017 |
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31.5.17 | 31.5.16 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings | 7 | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Fondel Alloys Limited (Registered number: 07478794) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2017 |
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1. | STATUTORY INFORMATION |
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Fondel Alloys Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
Due to ongoing losses the company has now ceased trading and will be wound up in an orderly manner. Since |
the company is no longer a going concern these accounts have been prepared on the breakup basis and all assets |
have been valued at recoverable amounts. It is the director's intention that in due course the company will be |
wound up. |
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These financial statements have been prepared in accordance with Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)' and the requirements of |
the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure |
requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to |
show a true and fair view. |
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These financial statements are prepared in sterling, which is the functional currency of the company. |
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These financial statements have been prepared under the historical cost convention. |
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These financial statements for the year ended 31 May 2017 are the first financial statements of Fondel Alloys |
Limited prepared in accordance with FRS 102. The date of transition to FRS 102 was 1 April 2016. The reported |
financial position and financial performance for the previous period are not affected by the transition to FRS |
102. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Amounts owed by participating interests | 494,828 | 463,577 |
Other debtors |
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Fondel Alloys Limited (Registered number: 07478794) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to participating interests | 1,818,079 | 1,819,610 |
Other creditors |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.17 | 31.5.16 |
value: | £ | £ |
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Ordinary | .01 | 7 | 100 |
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7. | RESERVES |
Retained |
earnings |
£ |
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At 1 June 2016 | ( |
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Deficit for the year | ( |
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At 31 May 2017 | ( |
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8. | CONTINGENT LIABILITIES |
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The company has given it bankers an unlimited intercompany guarantee in favour of the following related |
parties; Transition International Limited, Alloy Analysis Limited, Transition Metals Limited and Transition |
Sheffield Limited. |
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9. | RELATED PARTY DISCLOSURES |
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Transition International Limited |
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Transition International Limited is 50% owned by Transition Participations Limited and 50% by Fondel Urban |
Mining Ventures B.V. During the year the company made purchases from Transition International Limited |
totalling £nil (2016: £198,986). At the year end £1,761,007 (2016: £1,762,538) was due to Transition |
International Limited. |
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Fondel Metals B.V. |
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Fondel Metals B.V. is a 100% subsidiary of Fondel Commodities B.V. During the year the company made |
purchases from Fondel Metals B.V. totalling £nil (2016: £17,816). At the year end £345,891 was due from |
Fondel Metals B.V. (2016: £314,640). |
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Alloy Analysis Limited |
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Transition Participations Limited and Fondel Urban Mining Ventures B.V. each have a 50% shareholding in |
Alloy Analysis Limited. At the year end £7,072 (2016: £7,072) was due to Alloy Analysis Limited. |
Fondel Alloys Limited (Registered number: 07478794) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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9. | RELATED PARTY DISCLOSURES - continued |
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Transition Sheffield Limited |
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Transition Sheffield Limited is 50% owned by Transition Participations Limited and 50% by Fondel Urban |
Mining Ventures B.V. During the year the company made purchases from Transition Sheffield Ltd totalling £nil |
(2016: £1,597). At the year end £148,937 (2016: £148,937) was due from Transition Sheffield Limited. |
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10. | POST BALANCE SHEET EVENTS |
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On 16 February 2018 Boem Holding B.V. purchased shares from Transition Participations Limited., Fondel |
Alloys Limited became a 100% subsidiary of Boem Holding B.V. |
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11. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party at the year end. Transition Participations Limited and Fondel Urban |
Mining Ventures B.V. each held 50% of the issued share capital. |
Fondel Alloys Limited |
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Report of the Accountants to the Directors of |
Fondel Alloys Limited |
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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. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2017 set out on pages nil to nil and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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61a Blagden Street |
Sheffield |
South Yorkshire |
S2 5QS |
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