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REGISTERED NUMBER: 00262414 (England and Wales)















Financial Statements for the Year Ended 31 January 2017

for

Vulco Spring & Presswork Company Limited

Vulco Spring & Presswork Company Limited (Registered number: 00262414)






Contents of the Financial Statements
for the Year Ended 31 January 2017




Page

Company Information 1

Chartered Certified Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Vulco Spring & Presswork Company Limited

Company Information
for the Year Ended 31 January 2017







DIRECTORS: D M Draper
P M Draper



SECRETARY: P M Draper



REGISTERED OFFICE: The Woodlands
Evesham Road
Weethley
Alcester
Warwickshire
B49 5LW



BUSINESS ADDRESS: Anchor Works
Evesham Road
Astwood Bank
Redditch
Worcestershire
B96 6DU



REGISTERED NUMBER: 00262414 (England and Wales)



ACCOUNTANTS: Hamiltons Group Limited
Chartered Certified Accountants
Meriden House
6 Great Cornbow
Halesowen
West Midlands
B63 3AB



BANKERS: Lloyds Bank plc
19 Church Green East
Redditch
West Midlands
B98 8BZ

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Vulco Spring & Presswork Company Limited

The following reproduces the text of the report prepared for the directors and members 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 Statement of Financial Position. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Vulco Spring & Presswork Company Limited for the year ended 31 January 2017 which
comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting
records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Vulco Spring & Presswork Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vulco Spring & Presswork Company Limited and state those matters that we have agreed to state to the Board of Directors of Vulco Spring & Presswork Company Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Vulco Spring & Presswork Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vulco Spring & Presswork Company Limited. You consider that Vulco Spring & Presswork Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Vulco Spring & Presswork Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hamiltons Group Limited
Chartered Certified Accountants
Meriden House
6 Great Cornbow
Halesowen
West Midlands
B63 3AB


14 June 2017

Vulco Spring & Presswork Company Limited (Registered number: 00262414)

Statement of Financial Position
31 January 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,014,725 949,468

CURRENT ASSETS
Inventories 5 425,987 426,943
Debtors 6 364,623 295,773
Cash at bank and in hand 23,029 -
813,639 722,716
CREDITORS
Amounts falling due within one year 7 415,063 478,686
NET CURRENT ASSETS 398,576 244,030
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,413,301

1,193,498

CREDITORS
Amounts falling due after more than one
year

8

(388,534

)

(154,990

)

PROVISIONS FOR LIABILITIES (35,259 ) -
NET ASSETS 989,508 1,038,508

CAPITAL AND RESERVES
Called up share capital 10 15,000 15,000
Revaluation reserve 11 579,002 579,002
Retained earnings 395,506 444,506
SHAREHOLDERS' FUNDS 989,508 1,038,508

Vulco Spring & Presswork Company Limited (Registered number: 00262414)

Statement of Financial Position - continued
31 January 2017


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 14 June 2017 and were signed on its behalf by:





P M Draper - Director


Vulco Spring & Presswork Company Limited (Registered number: 00262414)

Notes to the Financial Statements
for the Year Ended 31 January 2017

1. STATUTORY INFORMATION

Vulco Spring & Presswork Company Limited is a private company, limited by shares , registered in England and
Wales. The company's registered number and registered office address can be found on the Company
Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company has adopted FRS 102 (Section 1A) for the first time in the year ended 31 January 2017.

The financial statements are presented in pound sterling which is the functional currency of the company and
rounded to the nearest £.

Significant judgements and estimates
Critical accounting judgements and estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors,
including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will,
by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk
of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period
are addressed below:

Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives
and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They
are amended when necessary to reflect current estimates, based on technological advancement, future
investments, economic utilisation and the physical condition of the assets.

Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment
of trade and other debtors, management considers factors including the current credit rating of the debtor, the
ageing of debtors and historical experience.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Tooling - 10% on cost

Vulco Spring & Presswork Company Limited (Registered number: 00262414)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

2. ACCOUNTING POLICIES - continued

Stocks
Inventories 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 that have been enacted or
substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 .

Vulco Spring & Presswork Company Limited (Registered number: 00262414)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 February 2016 760,000 10,232 551,896
Additions - - 85,834
At 31 January 2017 760,000 10,232 637,730
DEPRECIATION
At 1 February 2016 - 3,070 536,016
Charge for year - 1,023 11,058
At 31 January 2017 - 4,093 547,074
NET BOOK VALUE
At 31 January 2017 760,000 6,139 90,656
At 31 January 2016 760,000 7,162 15,880

Fixtures
and Motor
fittings vehicles Tooling Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2016 14,173 46,856 246,600 1,629,757
Additions 1,296 - 16,500 103,630
At 31 January 2017 15,469 46,856 263,100 1,733,387
DEPRECIATION
At 1 February 2016 13,175 42,078 85,950 680,289
Charge for year 436 1,196 24,660 38,373
At 31 January 2017 13,611 43,274 110,610 718,662
NET BOOK VALUE
At 31 January 2017 1,858 3,582 152,490 1,014,725
At 31 January 2016 998 4,778 160,650 949,468

Vulco Spring & Presswork Company Limited (Registered number: 00262414)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

4. PROPERTY, PLANT AND EQUIPMENT - continued

Cost or valuation at 31 January 2017 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2011 341,002 - -
Valuation in 2016 238,000 - -
Cost 180,998 10,232 637,730
760,000 10,232 637,730

Fixtures
and Motor
fittings vehicles Tooling Totals
£    £    £    £   
Valuation in 2011 - - - 341,002
Valuation in 2016 - - - 238,000
Cost 15,469 46,856 263,100 1,154,385
15,469 46,856 263,100 1,733,387

Freehold property was valued on an open market basis on 5 February 2016 by John Truslove, Chartered
surveyors.

5. INVENTORIES
2017 2016
£    £   
Finished goods 425,987 426,943

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 230,580 169,166
Amounts owed by participating interests 32,211 36,829
Other debtors 10,351 -
Directors' accounts 61,313 71,682
Prepayments 30,168 18,096
364,623 295,773

Vulco Spring & Presswork Company Limited (Registered number: 00262414)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 45,174 215,455
Hire purchase contracts 20,251 -
Trade creditors 153,912 110,989
Social security and other taxes 9,037 18,430
Other creditors 4,037 12,046
Factoring account 173,853 112,208
Accruals and deferred income 8,799 9,558
415,063 478,686

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Bank loans - 1-5 years 138,524 142,149
Bank loans more 5 yr by instal 167,061 12,841
Hire purchase contracts 82,949 -
388,534 154,990

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 167,061 12,841

9. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank overdrafts 2,303 183,116
Bank loans 348,456 187,329
Factoring account 173,853 112,208
524,612 482,653

The bank loans, overdrafts and factoring account are secured by a debenture dated 23 August 2010 in favour of
Lloyds Bank plc, an all assets debenture dated 23 September 2010 in favour of Lloyds Commercial Finance
Limited and a legal mortgage dated 10 November 2010 in favour of Lloyds Bank plc.

Vulco Spring & Presswork Company Limited (Registered number: 00262414)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
15,000 Ordinary £1 15,000 15,000

11. RESERVES
Revaluation
reserve
£   
At 1 February 2016
and 31 January 2017 579,002

12. RELATED PARTY DISCLOSURES

During the year the company recharged purchases and expenses totalling £171,000 (2016: £215,000) to
Cheltenham Road Engineering Co Limited together with management fees of £60,000 (2016: £63,000). At the
balance sheet date £32,211 (2016: £36,829) was owed by the related company. Mr PM Draper and Mr DM
Draper are directors in both companies.

13. TRANSITION TO FRS

This is the first year that the company has presented its results under FRS 102 (Section 1A). The last financial
statements prepared under UK GAAP were for the year ended 31 January 2016. The date of transition to FRS
102 (Section 1A) was 1 February 2015.