Harcourt Europe Ltd - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 08451972 (England and Wales)

Financial Statements

for the Year Ended 31 December 2016

for

Harcourt Europe Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T Van As

J Van As

Mrs L Van As

Mrs B Van As

REGISTERED OFFICE:

Unit 10B, Leafield Way

Leafield Industrial Estate

Corsham

Wiltshire

SN13 9SW

REGISTERED NUMBER:

08451972 (England and Wales)

ACCOUNTANTS:

Mander Duffill

Chartered Accountants

65 St Mary Street

Chippenham

Wiltshire

SN15 3JF

FIXED ASSETS

Intangible assets

4

81,692

163,386

Tangible assets

5

12,400

51,521

94,092

214,907

CURRENT ASSETS

Stocks

57,551

56,344

Debtors

6

212,014

332,419

Cash at bank

87,522

30,680

357,087

419,443

CREDITORS

Amounts falling due within one year

7

203,973

198,397

NET CURRENT ASSETS

153,114

221,046

TOTAL ASSETS LESS CURRENT LIABILITIES

247,206

435,953

CREDITORS

Amounts falling due after more than one year

8

(137,913

)

(271,416

)

PROVISIONS FOR LIABILITIES

9

(2,356

)

(10,304

)

NET ASSETS

106,937

154,233

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

106,837

154,133

SHAREHOLDERS' FUNDS

106,937

154,233

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 March 2017 and were signed on its behalf by:

T Van As - Director

J Van As - Director

1.	STATUTORY INFORMATION

Harcourt Europe Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Office equipment

-

20% on cost

Furniture, fixtures and fittings

-

20% on cost

Computer equipment

-

50% on cost and 25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

Trademarks

Totals

£

£

£

COST

At 1 January 2016

and 31 December 2016

408,468

1

408,469

AMORTISATION

At 1 January 2016

245,082

1

245,083

Amortisation for year

81,694

-

81,694

At 31 December 2016

326,776

1

326,777

NET BOOK VALUE

At 31 December 2016

81,692

-

81,692

At 31 December 2015

163,386

-

163,386

5.	TANGIBLE FIXED ASSETS

Furniture,

Improvements

fixtures

to

Office

and

Computer

property

equipment

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2016

25,608

10,542

12,172

22,318

70,640

Additions

-

811

-

-

811

Disposals

(25,608

)

-

(11,741

)

(2,890

)

(40,239

)

At 31 December 2016

-

11,353

431

19,428

31,212

DEPRECIATION

At 1 January 2016

919

2,771

5,917

9,512

19,119

Charge for year

2,561

2,270

2,508

6,592

13,931

Eliminated on disposal

(3,480

)

-

(8,109

)

(2,649

)

(14,238

)

At 31 December 2016

-

5,041

316

13,455

18,812

NET BOOK VALUE

At 31 December 2016

-

6,312

115

5,973

12,400

At 31 December 2015

24,689

7,771

6,255

12,806

51,521

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

162,054

313,259

Other debtors

49,960

19,160

212,014

332,419

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

149,196

134,053

Other creditors

54,777

64,344

203,973

198,397

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Other creditors

137,913

271,416

9.	PROVISIONS FOR LIABILITIES

31.12.16

31.12.15

£

£

Deferred tax

Accelerated capital allowances

2,356

10,304

Deferred

tax

£

Balance at 1 January 2016

10,304

Credit to Income Statement during year

(7,948

)

Balance at 31 December 2016

2,356

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

100

Ordinary

£1

100

100