Displayways Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02609299 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2015

for

Displayways Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P G Sheldrick

R Kelly

REGISTERED OFFICE:

16 Groton Road

Earlsfield

London

SW18 4EP

REGISTERED NUMBER:

02609299 (England and Wales)

ACCOUNTANTS:

Braywood Ltd

35 Station Approach

West Byfleet

Surrey

KT14 6NF

FIXED ASSETS

Tangible assets

2

242,627

47,841

CURRENT ASSETS

Stocks

46,221

37,253

Debtors

857,388

872,083

Cash at bank and in hand

311,622

186,118

1,215,231

1,095,454

CREDITORS

Amounts falling due within one year

3

581,363

639,213

NET CURRENT ASSETS

633,868

456,241

TOTAL ASSETS LESS CURRENT LIABILITIES

876,495

504,082

CREDITORS

Amounts falling due after more than one year

3

(128,856

)

-

PROVISIONS FOR LIABILITIES

(41,418

)

(3,567

)

NET ASSETS

706,221

500,515

CAPITAL AND RESERVES

Called up share capital

4

100

100

Capital redemption reserve

10,000

10,000

Profit and loss account

696,121

490,415

SHAREHOLDERS' FUNDS

706,221

500,515

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 September 2015 and were signed on its behalf by:

P G Sheldrick - Director

R Kelly - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors expect that trading over the next twelve months will generate positive cash flows and have

therefore continued to adopt the going concern basis of preparing the financial statements.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods excluding value added tax and all arose from ordinary activities.

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.

Improvements to property

-

10% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

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.

Hire purchase and leasing commitments

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

lease term.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

475,058

Additions

251,491

Disposals

(192,289

)

At 30 June 2015

534,260

DEPRECIATION

At 1 July 2014

427,217

Charge for year

41,438

Eliminated on disposal

(177,022

)

At 30 June 2015

291,633

NET BOOK VALUE

At 30 June 2015

242,627

At 30 June 2014

47,841

3.

CREDITORS

Creditors include an amount of £ 259,654 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

£

1,000

Ordinary

10p

100

100

5.	ULTIMATE CONTROLLING PARTY

P G Sheldrick, the director and majority shareholder is the ultimate controlling party.