Regency Design & Print Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01916004

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016

for

REGENCY DESIGN & PRINT LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D C Harkness

J Simpson

SECRETARY:

J Simpson

REGISTERED OFFICE:

Oxford House

15-17 Mount Ephraim Road

Tunbridge Wells

Kent

TN1 1EN

REGISTERED NUMBER:

01916004

ACCOUNTANTS:

Ward Mackenzie Ltd

Chartered Accountants

Oxford House

15-17 Mount Ephraim Road

Tunbridge Wells

Kent

TN1 1EN

FIXED ASSETS

Tangible assets

2

320,668

427,555

CURRENT ASSETS

Stocks

116,117

192,870

Debtors

2,078,207

2,437,808

Cash at bank and in hand

1,904,749

1,199,533

4,099,073

3,830,211

CREDITORS

Amounts falling due within one year

(1,642,416

)

(1,533,097

)

NET CURRENT ASSETS

2,456,657

2,297,114

TOTAL ASSETS LESS CURRENT LIABILITIES

2,777,325

2,724,669

CREDITORS

Amounts falling due after more than one year

3

(21,956

)

(78,089

)

PROVISIONS FOR LIABILITIES

(15,423

)

(29,390

)

NET ASSETS

2,739,946

2,617,190

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

2,739,846

2,617,090

SHAREHOLDERS' FUNDS

2,739,946

2,617,190

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 30 March 2017 and were signed on its behalf by:

D C Harkness - 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

-

6.6% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

2,485,030

DEPRECIATION

At 1 July 2015

2,057,475

Charge for year

106,887

At 30 June 2016

2,164,362

NET BOOK VALUE

At 30 June 2016

320,668

At 30 June 2015

427,555

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

30.6.16

30.6.15

£

£

Repayable otherwise than by instalments

100

100

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

£

100

Preference

£1

100

100

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2016 and

30 June 2015:

30.6.16

30.6.15

£

£

J Simpson

Balance outstanding at start of year

10,000

-

Amounts advanced

21,038

10,000

Amounts repaid

(31,038

)

-

Balance outstanding at end of year

-

10,000

D C Harkness

Balance outstanding at start of year

-

-

Amounts advanced

41,094

-

Amounts repaid

(3,012

)

-

Balance outstanding at end of year

38,082

-

Directors loan account was repaid within 9 months of the year end