|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
FOR |
|
PERMABOND ENGINEERING ADHESIVES LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
FOR |
|
PERMABOND ENGINEERING ADHESIVES LIMITED |
PERMABOND ENGINEERING ADHESIVES LIMITED (REGISTERED NUMBER: 04908229) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
PERMABOND ENGINEERING ADHESIVES LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
SECRETARY: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
BUSINESS ADDRESS: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
SENIOR STATUTORY AUDITOR: |
|
|
|
|
AUDITORS: |
|
Statutory Auditor |
Fleming Court |
Leigh Road |
Eastleigh |
Southampton |
Hampshire |
SO50 9PD |
PERMABOND ENGINEERING ADHESIVES LIMITED (REGISTERED NUMBER: 04908229) |
|
BALANCE SHEET |
31 DECEMBER 2016 |
|
2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
|
|
Investments | 6 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 7 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 8 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 9 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
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
by: |
|
|
|
|
|
|
|
PERMABOND ENGINEERING ADHESIVES LIMITED (REGISTERED NUMBER: 04908229) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
1. | STATUTORY INFORMATION |
|
Permabond Engineering Adhesives Limited is a
|
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. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
This is the first year that the company has presented its financial statements under Section 1A "Small Entities" of |
Financial Reporting Standard 102 (FRS 102 Section 1A) issued by the Financial Reporting Council. The last |
financial statements, for the year ended 31 December 2015, were prepared under previous UK GAAP. The |
transition date to FRS 102 Section 1A is therefore 1 January 2015. |
|
Adopting FRS 102 Section 1A has not resulted in any changes to the company's existing accounting policies |
which were being applied prior to transition. There was no change to the reported profit and loss account or |
closing equity position of the business for the year ended 31 December 2015 as a result of the transition, nor to |
the opening equity position at the date of transition. |
|
Turnover |
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of |
Value Added Tax, adjusted for uninvoiced income. |
|
Tangible fixed assets |
|
Freehold land and property | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Equipment | - |
|
|
All fixed assets are initially recorded at cost. |
|
Investments in associates |
Investments in associate undertakings are recognised at 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 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. |
|
PERMABOND ENGINEERING ADHESIVES LIMITED (REGISTERED NUMBER: 04908229) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
3. | ACCOUNTING POLICIES - continued |
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. |
|
Pension costs and other post-retirement benefits |
The company contributes to defined contribution pension schemes. Contributions payable to the pension |
schemes are charged to the profit and loss account in the period to which they relate. |
|
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
|
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with |
the lessor are charged against profits on a straight line basis over the period of the lease. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
5. | TANGIBLE FIXED ASSETS |
Freehold | Fixtures |
land and | Plant and | and |
property | machinery | fittings | Equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2016 |
|
|
|
|
|
Additions |
|
|
|
|
|
At 31 December 2016 |
|
|
|
|
|
DEPRECIATION |
At 1 January 2016 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
At 31 December 2016 |
|
|
|
|
|
NET BOOK VALUE |
At 31 December 2016 |
|
|
|
|
|
At 31 December 2015 |
|
|
|
|
|
PERMABOND ENGINEERING ADHESIVES LIMITED (REGISTERED NUMBER: 04908229) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
|
|
6. | FIXED ASSET INVESTMENTS |
Interest |
in |
associate |
£ |
COST |
At 1 January 2016 |
and 31 December 2016 |
|
NET BOOK VALUE |
At 31 December 2016 |
|
At 31 December 2015 |
|
|
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Amounts owed by participating interests | 68,433 | 44,814 |
Other debtors |
|
|
|
|
|
Included in other debtors is £63,807 (2015: £70,616) in relation to prepayments and accrued income. |
|
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
Included in other creditors is £128,292 (2015: £79,224) in relation to accruals and deferred income. |
|
9. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
|
Ordinary | £1 | 5,000 | 5,000 |
|
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
11. | RELATED PARTY DISCLOSURES |
|
The company has taken advantage of exemption, under the terms of Section 1A of Financial Reporting Standard |
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions entered into between two or more members of a group, where any subsidiary which is party to the |
transaction is wholly-owned within the group or where the transactions have been undertaken under normal |
market conditions. |