Displayways Visual Communications Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09977171 (England and Wales)

Financial Statements for the Year Ended 30 September 2020

for

DISPLAYWAYS VISUAL COMMUNICATIONS LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr N Bishop

Mr R Kelly

Mr P G Sheldrick

REGISTERED OFFICE:

16 Groton Road

Wandsworth

London

SW18 4EP

REGISTERED NUMBER:

09977171 (England and Wales)

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Tangible assets

4

4,074

3,960

CURRENT ASSETS

Debtors

5

85,015

352,449

Cash at bank and in hand

435,639

304,008

520,654

656,457

CREDITORS

Amounts falling due within one year

6

(62,703

)

(273,553

)

NET CURRENT ASSETS

457,951

382,904

TOTAL ASSETS LESS CURRENT LIABILITIES

462,025

386,864

CREDITORS

Amounts falling due after more than one year

7

(50,000

)

-

PROVISIONS FOR LIABILITIES

(774

)

(752

)

NET ASSETS

411,251

386,112

CAPITAL AND RESERVES

Called up share capital

9

320

320

Retained earnings

10

410,931

385,792

SHAREHOLDERS' FUNDS

411,251

386,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 11 March 2021 and were signed on its behalf by:

Mr P G Sheldrick - Director

Mr R Kelly - Director

Mr N Bishop - Director

1.	STATUTORY INFORMATION

Displayways Visual Communications 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 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. 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 and fittings

-

20% on cost

Office equipment

-

15% on cost

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.

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 4 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

COST

At 1 October 2019

2,473

3,097

5,570

Additions

-

917

917

At 30 September 2020

2,473

4,014

6,487

DEPRECIATION

At 1 October 2019

577

1,033

1,610

Charge for year

495

308

803

At 30 September 2020

1,072

1,341

2,413

NET BOOK VALUE

At 30 September 2020

1,401

2,673

4,074

At 30 September 2019

1,896

2,064

3,960

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade debtors

84,009

328,586

Amounts owed by participating interests

-

10,000

Tax

1,006

13,863

85,015

352,449

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade creditors

27,987

190,891

Taxation and social security

27,772

71,729

Other creditors

6,944

10,933

62,703

273,553

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans (see note 8)

50,000

-

8.

LOANS

An analysis of the maturity of loans is given below:

30.9.20

30.9.19

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

10,000

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

40,000

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.20

30.9.19

value:

£

£

300

Ordinary

£1

300

300

20

Ordinary B

£1

20

20

320

320

10.

RESERVES

Retained

earnings

£

At 1 October 2019

385,792

Profit for the year

121,860

Dividends

(96,721

)

At 30 September 2020

410,931

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £96,721 were paid to the directors .