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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2018 |
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ROUTEC (GB) LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2018 |
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FOR |
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ROUTEC (GB) LIMITED |
ROUTEC (GB) LIMITED (REGISTERED NUMBER: 05598956) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ROUTEC (GB) LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 March 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Beckside Court |
Annie Reed Road |
Beverley |
East Yorkshire |
HU17 0LF |
ROUTEC (GB) LIMITED (REGISTERED NUMBER: 05598956) |
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BALANCE SHEET |
31 March 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
ROUTEC (GB) LIMITED (REGISTERED NUMBER: 05598956) |
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BALANCE SHEET - continued |
31 March 2018 |
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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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D M Coleman - Director | P Moxon - Director |
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Mrs J M Moxon - Director |
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ROUTEC (GB) LIMITED (REGISTERED NUMBER: 05598956) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Routec (GB) Limited is a private company, limited by shares, incorporated and domiciled in England and has its registered |
office and principal place of business at Borwick Drive, Grovehill Road, Beverley, East Yorkshire. |
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The principal activity of the company is the manufacture of furniture. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going |
concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to |
events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
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Related party exemption |
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. |
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Turnover |
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or |
receivable. Turnover excludes value added tax and trade discounts. |
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Turnover from the sale of goods is recognised at the point of sale. |
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Turnover from services is recognised on completion of service, or when those services span the year end date, by |
reference to the stage of completion at the balance sheet date. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing |
stocks to their present location and condition. |
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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. |
ROUTEC (GB) LIMITED (REGISTERED NUMBER: 05598956) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date. |
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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. |
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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. |
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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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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. |
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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. |
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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. |
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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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ROUTEC (GB) LIMITED (REGISTERED NUMBER: 05598956) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2018 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
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COST |
At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 April 2017 |
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Additions |
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Transfer to ownership | (7,980 | ) |
At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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Transfer to ownership | (7,980 | ) |
At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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ROUTEC (GB) LIMITED (REGISTERED NUMBER: 05598956) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts (see note 8) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts (see note 8) |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Other loans more 5yrs instal |
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8. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2018 | 2017 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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ROUTEC (GB) LIMITED (REGISTERED NUMBER: 05598956) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2018 |
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8. | LEASING AGREEMENTS - continued |
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Non-cancellable operating |
leases |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Other loans |
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Hire purchase contracts | 403,563 | 415,567 |
Sales ledger financing | 1,104,907 | 608,193 |
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The hire purchase creditors are secured on the relevant assets that they are financing. |
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The sales ledger financing, provided by Barclays Bank plc, is secured via a fixed and floating charge on the assets of the |
company. |
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Other loans represent the mortgage obtained to acquire the company's premises. They are secured upon the freehold |
property of the company. |
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10. | RELATED PARTY DISCLOSURES |
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At the year end the company owed its director D M Coleman £3,330 (2017: £2,568). |
At the year end the company owed its director M D Lawson £145 (2017: £145). |
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Neither balance is subject to interest and both are repayable on demand. |