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TREANOR PUJOL LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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TREANOR PUJOL LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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TREANOR PUJOL LIMITED (REGISTERED NUMBER: 06741051) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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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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TREANOR PUJOL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditor |
Oakhurst House |
57 Ashbourne Road |
Derby |
Derbyshire |
DE22 3FS |
TREANOR PUJOL LIMITED (REGISTERED NUMBER: 06741051) |
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BALANCE SHEET |
31 DECEMBER 2018 |
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2018 | 2017 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved and authorised for issue by the Board of Directors on
were signed on its behalf by: |
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TREANOR PUJOL LIMITED (REGISTERED NUMBER: 06741051) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Treanor Pujol 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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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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General information and basis of preparation |
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Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, the directors are required to make judgements, |
estimates and assumptions regarding the carrying amounts of the company's assets and liabilities. These are |
based on historical experience and other factors that are considered relevant. They are reviewed on a regular |
basis and changes recognised in the period in which the estimate is revised. Actual results may differ from |
these estimates. |
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In respect of construction contracts, attributable profit is recognised once the outcome of a contract can be |
assessed with reasonable certainty. When the outcome of a contract cannot be reliably estimated, revenue is |
recognised to the extent of contract costs incurred. Attributable profit is recognised on the cost percentage |
completion method. Immediate provision is made for all foreseeable losses if a contract is assessed as |
unprofitable. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Other than on construction contracts, turnover is recognised when a right to the consideration has been |
obtained through delivery. |
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On construction contracts, turnover represents the estimated sales value of the work performed in the year. |
Amounts recoverable on contracts represents the value of work done at the lower of cost plus attributable |
profit and net realisable value, for which no invoice has been raised, but which is reflected within activity in |
the statement of income and retained earnings. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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TREANOR PUJOL LIMITED (REGISTERED NUMBER: 06741051) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Stocks |
Stocks 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 includes all costs incurred in bringing each product to its present location and condition, as follows: |
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Raw materials (including consumables and goods for resale): | Weighted average purchase price |
Finished goods: |
Cost of direct materials and labour plus
attributable overheads based on a normal level of activity |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
Retained Earnings, 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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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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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Foreign exchange |
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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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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Going concern |
The parent company has confirmed that it will continue to support this company for a period of at least twelve |
months from the date of approval of these financial statements and, on the basis of this continued support, |
the directors consider it appropriate to prepare these accounts on the going concern basis. |
TREANOR PUJOL LIMITED (REGISTERED NUMBER: 06741051) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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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. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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Disposals |
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( |
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( |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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Eliminated on disposal |
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( |
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( |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Included in cost of land and buildings is freehold land of £ 1,375,000 (2017 - £ 1,375,000 ) which is not |
depreciated. |
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5. | STOCKS |
2018 | 2017 |
as restated |
£ | £ |
Raw materials |
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Finished goods |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
as restated |
£ | £ |
Trade debtors |
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Amounts recoverable on contracts |
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Other debtors |
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TREANOR PUJOL LIMITED (REGISTERED NUMBER: 06741051) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
as restated |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
as restated |
£ | £ |
Amounts owed to group undertakings |
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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 | 2018 | 2017 |
£ | £ |
Bank loans | - | - |
Amounts owed to group undertakings | - | 286,872 |
- | 286,872 |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
as restated |
£ | £ |
Within one year |
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Between one and five years |
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TREANOR PUJOL LIMITED (REGISTERED NUMBER: 06741051) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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9. | LEASING AGREEMENTS - continued |
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Operating lease agreements where the company is the lessor: |
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The company leases surplus site to a third party. This non-cancellable lease has a remaining term of less than 1 |
year. |
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Future minimum rentals receivable under non-cancellable operating leases are as follows: |
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2018 | 2017 |
£ | £ |
Within one year | 107,256 | 190,272 |
Between one and five years | - | 107,256 |
297,528 | 297,528 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | as restated |
£ | £ |
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Ordinary | £1 | 4 | 4 |
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Preference | £1 | 5,134,541 | 5,134,541 |
5,134,545 | 5,134,545 |
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The company may redeem all or any of the preference shares on written request by the holders of such |
preference shares to the company. On receipt of such a request, the redemption will be made as soon as the |
company is lawfully able to do so. |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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TREANOR PUJOL LIMITED (REGISTERED NUMBER: 06741051) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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12. | CONTINGENT LIABILITIES |
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On 5 June 2014, an employee was fatally injured at the company's premises during a routine operation. |
Following this incident, the HSE have carried out investigations and the Coroner's inquest concluded on 26 |
April 2018 giving a narrative verdict. The HSE confirmed in March 2019 that they intend to prosecute the |
company which could lead to an unlimited fine in the event of a successful prosecution and guilty verdict. The |
civil claim in relation to the incident was discontinued on or around 1 August 2018. |
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In addition, the HSE confirmed in March 2019 that they intend to prosecute the company following an accident |
involving an employee who trapped his hand in a hooks machine and sustained injury. A civil claim was also |
made in relation to this matter but this has now been dealt with by the company's insurers. The HSE also |
confirmed in March 2019 that they intend to prosecute the company in relation to electrical maintenance and |
management standards at the company's site. |
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The court appearance for the HSE prosecutions was initially scheduled for 3 September 2019, however, this |
was adjourned and the hearing is now listed for 16 December 2019. |
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As at the date of approval of these financial statements, there has been no indication as to which offence(s) |
the HSE are prosecuting under. As such, any future financial effect cannot be estimated. |
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13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 December 2018 and 31 |
December 2017: |
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2018 | 2017 |
£ | £ |
Balance outstanding at start of year | 7,000 | 11,000 |
Amounts repaid | (4,000 | ) | (4,000 | ) |
Balance outstanding at end of year | 3,000 | 7,000 |
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The above is interest free and repayable in instalments. |