Northern Vinyl Distribution Limited - Period Ending 2016-08-31

Registration number: 06356653

Northern Vinyl Distribution Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Northern Vinyl Distribution Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Northern Vinyl Distribution Limited
for the Year Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Northern Vinyl Distribution Limited for the year ended 31 August 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Northern Vinyl Distribution Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Northern Vinyl Distribution Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Northern Vinyl Distribution Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Northern Vinyl Distribution Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Northern Vinyl Distribution Limited. You consider that Northern Vinyl Distribution 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 accounts of Northern Vinyl Distribution 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 accounts.

......................................

Darnbrough & Co Ltd
8 York Place
Knaresborough
North Yorkshire
HG5 0AA

22 November 2016

Page 1

Northern Vinyl Distribution Limited
(Registration number: 06356653)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Investments					41			1
Current assets
Stocks					48,440			63,903
Debtors					6,577			8,891
Cash at bank and in hand					18,225			7,479
					73,242			80,273
Creditors: Amounts falling due within one year					(13,144)			(30,102)
Net current assets					60,098			50,171
Net assets					60,139			50,172
Capital and reserves
Called up share capital		3			50			50
Capital redemption reserve					50			50
Profit and loss account					60,039			50,072
Shareholders' funds					60,139			50,172

For the year ending 31 August 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 9 November 2016

.........................................
Mr Andrew David Wormald
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Northern Vinyl Distribution Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Northern Vinyl Distribution Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

2	Fixed assets

		Investments £			Total £
Cost
At 1 September 2015		1			1
Additions		40			40
At 31 August 2016		41			41
Depreciation
At 31 August 2016		-			-
Net book value
At 31 August 2016		41			41
At 31 August 2015		1			1

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Leeds Padel Club Ltd	England and Wales	ordinary shares	33.33%
Osborne Vinyl Ltd	England and Wales	ordinary shares	100%	doemant
Significant holdings
			0%

The financial period end of Leeds Padel Club Ltd is 28 February 2017.

The financial period end of Osborne Vinyl Ltd is 30 June 2016.

Page 4

Northern Vinyl Distribution Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		50			50			50			50

Page 5