Cunis Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02965256 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

CUNIS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M P Johnson

M D Fix

REGISTERED OFFICE:

Unit 3 Guildprime Business Centre

Southend Road

Great Burstead

Billericay

Essex

CM11 2PY

REGISTERED NUMBER:

02965256 (England and Wales)

ACCOUNTANTS:

Lucentum Business Services Ltd

Kingfisher House

11 Hoffmanns Way

Chelmsford

Essex

CM1 1GU

FIXED ASSETS

Tangible assets

5

850,317

810,992

CURRENT ASSETS

Stocks

241,588

337,067

Debtors

6

1,132,408

979,447

Cash at bank and in hand

191,292

155,666

1,565,288

1,472,180

CREDITORS

Amounts falling due within one year

7

1,575,102

1,454,568

NET CURRENT (LIABILITIES)/ASSETS

(9,814

)

17,612

TOTAL ASSETS LESS CURRENT LIABILITIES

840,503

828,604

CREDITORS

Amounts falling due after more than one year

8

(187,055

)

(233,814

)

PROVISIONS FOR LIABILITIES

10

(89,699

)

(89,699

)

NET ASSETS

563,749

505,091

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

563,649

504,991

SHAREHOLDERS' FUNDS

563,749

505,091

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 September 2019 and were signed on its behalf by:

M P Johnson - Director

1.	STATUTORY INFORMATION

Cunis 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the sale of stationery and packaging products, excluding value added tax and is

recognised when an invoice is produced.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

at varying rates on cost

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

at varying rates on cost

Computer equipment

-

at varying rates on 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.

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

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.

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

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable for the year are

charged to the profit and loss account.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2017 - 30 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2018

353,221

723,768

1,882

Additions

-

89,505

1,340

At 31 December 2018

353,221

813,273

3,222

DEPRECIATION

At 1 January 2018

82,618

244,198

822

Charge for year

7,612

54,770

531

At 31 December 2018

90,230

298,968

1,353

NET BOOK VALUE

At 31 December 2018

262,991

514,305

1,869

At 31 December 2017

270,603

479,570

1,060

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2018

124,669

33,249

1,236,789

Additions

24,200

1,219

116,264

At 31 December 2018

148,869

34,468

1,353,053

DEPRECIATION

At 1 January 2018

72,253

25,906

425,797

Charge for year

12,373

1,653

76,939

At 31 December 2018

84,626

27,559

502,736

NET BOOK VALUE

At 31 December 2018

64,243

6,909

850,317

At 31 December 2017

52,416

7,343

810,992

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2018

403,915

35,569

439,484

Additions

-

24,200

24,200

At 31 December 2018

403,915

59,769

463,684

DEPRECIATION

At 1 January 2018

48,972

15,548

64,520

Charge for year

35,494

2,434

37,928

At 31 December 2018

84,466

17,982

102,448

NET BOOK VALUE

At 31 December 2018

319,449

41,787

361,236

At 31 December 2017

354,943

20,021

374,964

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

660,070

602,888

Other debtors

98,623

200

Amount owed by associated

company

95,997

107,984

Directors' loan accounts

19,494

1,873

Prepayments and accrued income

258,224

266,502

1,132,408

979,447

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

9,688

20,273

Hire purchase contracts

99,142

84,817

Trade creditors

583,376

588,094

Tax

(25,471

)

(12,195

)

Social security and other taxes

104,363

71,739

Other creditors

74,123

96,552

Invoice finance

540,454

447,647

Accrued expenses

189,427

157,641

1,575,102

1,454,568

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

187,055

233,814

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

9,688

20,273

Hire purchase contracts

286,197

318,631

Invoice finance

540,454

447,647

836,339

786,551

There is a debenture dated 18 December 2003 with National Westminster Bank PLC. This is a fixed

and floating charge over the undertaking and all property and assets present and future including

goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.

There is also a fixed and floating charge over the same assets created on 8 January 2004 with Royal

Bank Of Scotland Commercial Services Ltd.

National Westminster Bank also have a legal charge dated 24 January 2008 over Unit 3, Guild Prime

Centre, Southend Road, Great Burstead, by way of a fixed charge over the property and any assets

within the property.

10.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

Accelerated capital allowances

89,699

89,699

Deferred

tax

£

Balance at 1 January 2018

89,699

Increase in provision

Change in rate

Balance at 31 December 2018

89,699

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

1

100

100

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within debtors is an amount of £19,494 (2017: £1,873) due from M P Johnson. No interest is

charged on this amount.

13.	RELATED PARTY DISCLOSURES

During the year the company paid rent of £66,000 (2017: £66,000) and were owed as at the year end

£95,997 (2017: £117,879) by a related company of which M P Johnson and M D Fix are shareholders.

14.	ULTIMATE CONTROLLING PARTY

There is no individual ultimate controlling party.