NCM Distributors Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07581423 (England and Wales)

NCM DISTRIBUTORS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

S J Goldring

R J White

REGISTERED OFFICE:

731 Tudor Estate

Abbey Road

London

NW10 7UN

REGISTERED NUMBER:

07581423 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

2

27,876

38,381

CURRENT ASSETS

Stocks

89,691

111,135

Debtors

583,901

477,270

Cash at bank and in hand

15,455

19,508

689,047

607,913

CREDITORS

Amounts falling due within one year

3

911,706

783,165

NET CURRENT LIABILITIES

(222,659

)

(175,252

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(194,783

)

(136,871

)

CREDITORS

Amounts falling due after more than one year

3

-

3,628

NET LIABILITIES

(194,783

)

(140,499

)

CAPITAL AND RESERVES

Called up share capital

4

99

99

Capital redemption reserve

60,000

60,000

Profit and loss account

(254,882

)

(200,598

)

SHAREHOLDERS' FUNDS

(194,783

)

(140,499

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 30 November 2016 and were signed on its behalf by:

S J Goldring - Director

1.	ACCOUNTING POLICIES

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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.

Short leasehold

-

in accordance with the lease

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% 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.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

Invoice financing

The company has entered into an arrangement to factor some of its trade debtors. The risks and rewards of

ownership remain with the company and therefore any amounts advanced by the factor are treated as a loan

included within creditors due within one year.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

67,169

DEPRECIATION

At 1 April 2015

28,788

Charge for year

10,505

At 31 March 2016

39,293

NET BOOK VALUE

At 31 March 2016

27,876

At 31 March 2015

38,381

3.

CREDITORS

Creditors include an amount of £ 313,286 (2015 - £ 244,809 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

33

A Ordinary

£1

33

33

33

B Ordinary

£1

33

33

33

C Ordinary

£1

33

33

99

99

5.	ULTIMATE PARENT COMPANY

DPN Holdings Limited is regarded by the directors as being the company's ultimate parent company.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2016 and

31 March 2015:

2016

2015

£

£

S J Goldring

Balance outstanding at start of year

82,799

82,799

Amounts repaid

(21,000

)

-

Balance outstanding at end of year

61,799

82,799