Certags Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09195749 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH JUNE 2016

FOR

CERTAGS LIMITED

TRADING AS

COMPLIED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N Brusasco

A J Mulrooney

SECRETARY:

N Brusasco

REGISTERED OFFICE:

Suite 1, Ground Floor

Southwood House

Greenwood Business Centre

Salford

M5 4QH

REGISTERED NUMBER:

09195749 (England and Wales)

ACCOUNTANTS:

Percy Westhead & Company

Chartered Accountants

Greg's Buildings

1 Booth Street

Manchester

M2 4AD

FIXED ASSETS

Tangible assets

2

9,213

723

Investments

3

2

-

9,215

723

CURRENT ASSETS

Stocks

6,148

145

Debtors

64,121

21,613

Cash at bank

22,759

31,696

93,028

53,454

CREDITORS

Amounts falling due within one year

4

63,172

31,371

NET CURRENT ASSETS

29,856

22,083

TOTAL ASSETS LESS CURRENT LIABILITIES

39,071

22,806

CREDITORS

Amounts falling due after more than one year

4

7,500

-

NET ASSETS

31,571

22,806

CAPITAL AND RESERVES

Called up share capital

5

1,200

1,200

Profit and loss account

30,371

21,606

SHAREHOLDERS' FUNDS

31,571

22,806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 20th December 2016 and were signed on its behalf by:

N Brusasco - 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

Revenue from the sale of stock is measured at the consideration receivable which equates to the invoiced

amounts, excluding value added tax and net allowances for credits and rebates. Revenue is recognised in the

profit and loss account on completion of the related transaction.

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.

Fixtures and fittings

-

25% 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.

Deferred tax

A deferred tax liability is recognised in respect of all material timing differences that have originated but not

reversed at the balance sheet date.

A deferred tax asset is treated as recoverable and therefore recognised only when it can be regarded as more

likely than not that there will be suitable taxable profits from which the future reversal of underlying timing

differences can be deducted.

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

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2015

964

Additions

11,641

At 30th June 2016

12,605

DEPRECIATION

At 1st July 2015

241

Charge for year

3,151

At 30th June 2016

3,392

NET BOOK VALUE

At 30th June 2016

9,213

At 30th June 2015

723

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

2

At 30th June 2016

2

NET BOOK VALUE

At 30th June 2016

2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Complied Limited

Nature of business: Dormant company

%

Class of shares:

holding

Ordinary

100.00

30/6/17

£

Aggregate capital and reserves

1

Industrial Tags and Labels Limited

Nature of business: Dormant company

%

Class of shares:

holding

Ordinary

100.00

30/6/17

£

Aggregate capital and reserves

1

4.

CREDITORS

Creditors include an amount of £ 9,180 for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1,020

Ordinary A

£1

1,020

1,020

180

Ordinary B

£1

180

180

1,200

1,200

6.	ULTIMATE PARENT COMPANY

Promark Pty Ltd (incorporated in Australia ) is regarded by the directors as being the company's ultimate parent

company.

7.	RELATED PARTY DISCLOSURES

Promark Pty Ltd

A company which holds the majority shareholding in Certags Ltd.

During the period ended 30th June 2016:

- Promark Pty Ltd provided goods to Certags Ltd amounting to £75,966

As at 30th June 2016 Certags Ltd owed £25,099 to Promark Pty Ltd.

8.	ULTIMATE CONTROLLING PARTY