Stick & Ribbon Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07268441 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Stick & Ribbon Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Longden

I Longden

SECRETARY:

Mrs S Longden

REGISTERED OFFICE:

33 The Pingle

Quorn

Loughborough

Leicestershire

LE12 8FQ

REGISTERED NUMBER:

07268441 (England and Wales)

ACCOUNTANTS:

RT Accountancy Services Limited

3 Fernleigh Business Park

Blaby Road

Enderby

Leicester

Leicestershire

LE19 4AQ

FIXED ASSETS

Tangible assets

4

2,741

3,425

CURRENT ASSETS

Stocks

145,639

124,163

Debtors

5

14,640

16,858

Cash in hand

4,592

3,947

164,871

144,968

CREDITORS

Amounts falling due within one year

6

(199,003

)

(190,355

)

NET CURRENT LIABILITIES

(34,132

)

(45,387

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(31,391

)

(41,962

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(31,393

)

(41,964

)

SHAREHOLDERS' FUNDS

(31,391

)

(41,962

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 26 February 2019 and were signed on its behalf by:

Mrs S Longden - Director

1.	STATUTORY INFORMATION

Stick & Ribbon Ltd 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.

Turnover

Turnover 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.

Fixtures fittings and equipment

-

20% on reducing balance

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

fittings

and

equipment

£

COST

At 1 June 2017

and 31 May 2018

12,258

DEPRECIATION

At 1 June 2017

8,833

Charge for year

684

At 31 May 2018

9,517

NET BOOK VALUE

At 31 May 2018

2,741

At 31 May 2017

3,425

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

14,640

16,858

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

14,614

24,225

Trade creditors

21,304

17,063

Other creditors

163,085

149,067

199,003

190,355

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

14,614

24,225