Registered number: 01577652 | ||||||||
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FOR THE YEAR ENDED 30/09/2018 | ||||||||
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Prepared By: | ||||||||
PAS SYSTEMS | ||||||||
Accountants | ||||||||
12 | ||||||||
Kendrick Close | ||||||||
Solihull | ||||||||
West Midlands | ||||||||
B92 0QD |
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SPRINT INDUSTRIAL SALES LIMITED | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 30/09/2018 | ||||||||
DIRECTORS | ||||||||
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SECRETARY | ||||||||
R P I Pearsall | ||||||||
REGISTERED OFFICE | ||||||||
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West Midlands | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 01577652 | ||||||||
BANKERS | ||||||||
BARCLAYS BANK PLC | ||||||||
ACCOUNTANTS | ||||||||
PAS SYSTEMS | ||||||||
Accountants | ||||||||
12 | ||||||||
Kendrick Close | ||||||||
Solihull | ||||||||
West Midlands | ||||||||
B92 0QD |
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SPRINT INDUSTRIAL SALES LIMITED | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 30/09/2018 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
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SPRINT INDUSTRIAL SALES LIMITED | ||||||||
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BALANCE SHEET AT
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2018 | 2017 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 |
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CURRENT ASSETS | ||||||||||
Stock |
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Debtors | 4 |
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Cash at bank and in hand |
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446,889 | 553,674 | |||||||||
CREDITORS: Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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205,250 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES AND CHARGES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 |
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Share premium account | 9 |
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Capital redemption reserve | 10 |
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Profit and loss account | 70,009 | 72,217 | ||||||||
SHAREHOLDERS' FUNDS |
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Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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SPRINT INDUSTRIAL SALES LIMITED | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 30/09/2018 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
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Long Leasehold Properties | straight line 15% | |||||||
Plant and Machinery | straight line 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Leasing Commitments | ||||||||
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Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis. |
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SPRINT INDUSTRIAL SALES LIMITED | ||||||||
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2. TANGIBLE FIXED ASSETS | ||||||
Long Leasehold | Plant and | |||||
Properties | Machinery | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/10/2017 | 15,784 | 455,671 | 471,455 | |||
Additions | - | 112,205 | 112,205 | |||
Disposals | - | (7,600) | (7,600) | |||
At 30/09/2018 | 15,784 | 560,276 | 576,060 | |||
Depreciation | ||||||
At 01/10/2017 | 12,512 | 372,328 | 384,840 | |||
For the year | 678 | 35,608 | 36,286 | |||
At 30/09/2018 | 13,190 | 407,936 | 421,126 | |||
Net Book Amounts | ||||||
At 30/09/2018 | 2,594 |
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154,934 | |||
At 30/09/2017 | 3,272 |
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86,615 | |||
3. STOCK | 2018 | 2017 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock |
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Work in progress |
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4. DEBTORS | 2018 | 2017 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 212,935 | 323,839 | ||||||
Other debtors | 7,008 | 9 | ||||||
Prepayments | 16,027 | 41,374 | ||||||
235,970 | 365,222 | |||||||
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SPRINT INDUSTRIAL SALES LIMITED | ||||||||
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5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2018 | 2017 | |||||||
£ | £ | |||||||
UK corporation tax | 41,827 | 52,905 | ||||||
VAT | 18,142 | 42,139 | ||||||
PAYE control | 5,650 | 4,620 | ||||||
Directors current account | 29,667 | 2,787 | ||||||
Loans | 72,328 | 114,888 | ||||||
Trade creditors | 117,643 | 120,757 | ||||||
Pension schemes | 503 | 658 | ||||||
Accruals | 13,669 | 9,670 | ||||||
299,429 | 348,424 | |||||||
6. EMPLOYEES | ||||||
2018 | 2017 | |||||
No. | No. | |||||
Average number of employees | 15 | 15 | ||||
7. PROVISIONS FOR LIABILITIES | 2018 | 2017 | ||||||
£ | £ | |||||||
Deferred taxation | 27,285 | 14,548 | ||||||
27,285 | 14,548 | |||||||
8. SHARE CAPITAL | 2018 | 2017 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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100 | 100 | ||||||
100 | 100 | |||||||
Equity Shares Authorised 975 Ordinary shares of £1 each, 25 Ordinary 'B' shares of £1 each. Allotted 100 ordinary shares of £1 each. |
9. SHARE PREMIUM ACCOUNT | 2018 | 2017 | ||||
£ | £ | |||||
Share premium account | 204,975 | 204,975 |
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SPRINT INDUSTRIAL SALES LIMITED | ||||||||
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10. OTHER RESERVES | 2018 | 2017 | ||||
£ | £ | |||||
Capital redemption reserve | 25 | 25 | ||||
25 | 25 | |||||
11. CONTROLLING PARTY | ||||||||
The company is not uner the control of any individual party. | ||||||||