Yeshili Reflective Material Co Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05937861 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

FOR

YESHILI REFLECTIVE MATERIAL CO LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D Whelan

Mrs P M Whelan

M J Sharpe

SECRETARY:

Mrs P M Whelan

REGISTERED OFFICE:

Whelco Place

Enfield Industrial Estate

Enfield Street

Wigan

Lancashire

WN5 8DB

REGISTERED NUMBER:

05937861 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

Barclays Bank PLC

Victoria House

6 Market Place

Wigan

Lancashire

WN1 1QS

FIXED ASSETS

Intangible assets

2

329,336

395,827

Tangible assets

3

243,956

225,875

573,292

621,702

CURRENT ASSETS

Stocks

780,370

875,761

Debtors

539,578

598,751

Cash at bank

88,013

284,166

1,407,961

1,758,678

CREDITORS

Amounts falling due within one year

198,626

223,832

NET CURRENT ASSETS

1,209,335

1,534,846

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,782,627

2,156,548

CREDITORS

Amounts falling due after more than one
year

1,180,106

1,507,493

NET ASSETS

602,521

649,055

CAPITAL AND RESERVES

Called up share capital

4

1,100,000

Profit and loss account

(497,479

)

(450,945

)

SHAREHOLDERS' FUNDS

602,521

649,055

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 25 January 2017 and were signed on its behalf by:

M J Sharpe - 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 the net invoice value of goods sold, excluding Value Added Tax.

Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in

order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

- 5% on cost

Fixtures and fittings

- 10% on cost

Motor vehicles

- 20% on cost

Computer equipment

- 20% 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

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

sheet date. A deferred tax asset will be recognised if there is sufficient evidence that the asset will be recovered.

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.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

664,908

AMORTISATION

At 1 June 2015

269,081

Amortisation for year

66,491

At 31 May 2016

335,572

NET BOOK VALUE

At 31 May 2016

329,336

At 31 May 2015

395,827

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

559,537

Additions

74,971

At 31 May 2016

634,508

DEPRECIATION

At 1 June 2015

333,662

Charge for year

56,890

At 31 May 2016

390,552

NET BOOK VALUE

At 31 May 2016

243,956

At 31 May 2015

225,875

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,100,000

Ordinary

£1

1,100,000

5.	ULTIMATE CONTROLLING PARTY

Mr D Whelan, a Director and majority shareholder of the Company, is the ultimate controlling party.