Zund Plotting Systems (UK) Ltd - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 02869349 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2016 TO 31 MARCH 2017

FOR

ZUND PLOTTING SYSTEMS (UK) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T Taylor

Mrs K Taylor

P R Giddings

D Fryer

SECRETARY:

Mrs K Taylor

REGISTERED OFFICE:

Unit 1

Spring Valley Business Centre

Porters Wood

St Albans

Hertfordshire

AL3 6PD

REGISTERED NUMBER:

02869349 (England and Wales)

SENIOR STATUTORY AUDITOR:

David Harris

AUDITORS:

Newman Morris Ltd

Chartered Accountants

& Statutory Auditors

Wellington House

273-275 High Street

London Colney

Hertfordshire

AL2 1HA

FIXED ASSETS

Tangible assets

4

280,547

169,941

CURRENT ASSETS

Stocks

1,328,387

752,443

Debtors

5

1,897,575

1,013,443

Cash at bank and in hand

1,941,078

1,080,366

5,167,040

2,846,252

CREDITORS

Amounts falling due within one year

6

3,660,156

2,319,171

NET CURRENT ASSETS

1,506,884

527,081

TOTAL ASSETS LESS CURRENT LIABILITIES

1,787,431

697,022

CREDITORS

Amounts falling due after more than one year

7

110,931

33,711

NET ASSETS

1,676,500

663,311

CAPITAL AND RESERVES

Called up share capital

12,346

11,111

Share premium

50,060

18,889

Retained earnings

1,614,094

633,311

SHAREHOLDERS' FUNDS

1,676,500

663,311

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 April 2017 and were signed on its behalf by:

Mrs K Taylor - Director

1.	STATUTORY INFORMATION

Zund Plotting Systems (UK) 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 comprises revenue recognised by the company in respects of goods and services supplied

during the year, exclusive of Value Added Tax and trade discounts. Revenue is recognised at the point

when goods and services are provided to customers.

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

-

Over the term of the lease

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

33% on reducing balance

Computer equipment

-

33% 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.

Taxation

Taxation for the period 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 period 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.

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 a fixed rate of

exchange based on the exchange rate at invoice date. Monthly exchange differences are taken into

account in arriving at the operating result.

Foreign exchange variances are adjusted to the profit & loss account and are effected within the

company's Expenditure.

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 profit or loss over the relevant period. The

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

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

of the lease.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 31 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2016

378,024

276,519

303,535

30,938

989,016

Additions

-

14,548

221,311

14,367

250,226

Disposals

-

-

(128,365

)

-

(128,365

)

At 31 March 2017

378,024

291,067

396,481

45,305

1,110,877

DEPRECIATION

At 1 January 2016

378,024

252,457

184,118

4,476

819,075

Charge for period

-

11,614

84,592

12,105

108,311

Eliminated on disposal

-

-

(97,056

)

-

(97,056

)

At 31 March 2017

378,024

264,071

171,654

16,581

830,330

NET BOOK VALUE

At 31 March 2017

-

26,996

224,827

28,724

280,547

At 31 December 2015

-

24,062

119,417

26,462

169,941

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2016

8,750

247,685

256,435

Additions

-

209,411

209,411

Disposals

-

(118,015

)

(118,015

)

At 31 March 2017

8,750

339,081

347,831

DEPRECIATION

At 1 January 2016

6,096

165,781

171,877

Charge for period

1,023

68,127

69,150

Eliminated on disposal

-

(93,591

)

(93,591

)

At 31 March 2017

7,119

140,317

147,436

NET BOOK VALUE

At 31 March 2017

1,631

198,764

200,395

At 31 December 2015

2,654

81,904

84,558

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2015

£

£

Trade debtors

1,386,558

832,421

Other debtors

511,017

181,022

1,897,575

1,013,443

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2015

£

£

Bank loans and overdrafts

-

50,696

Hire purchase contracts

70,176

8,563

Trade creditors

1,497,398

410,322

Taxation and social security

505,310

714,383

Other creditors

1,587,272

1,135,207

3,660,156

2,319,171

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2015

£

£

Hire purchase contracts

92,251

23,706

Other creditors

18,680

10,005

110,931

33,711

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

-

11,379

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Harris (Senior Statutory Auditor)

for and on behalf of Newman Morris Ltd

9.	OTHER FINANCIAL COMMITMENTS

Management have bought into forward contacts throughout the year to hedge the company's risk

against exchange rate fluctuations. At the year end the company had a financial commitment towards

twenty forward contracts. These contracts show a total a commitment to buy CHF2,405,000 for

£1,964,209 after the year end.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 March 2017 and

the year ended 31 December 2015:

2017

2015

£

£

T Taylor and Mrs K Taylor

Balance outstanding at start of period

-

-

Amounts advanced

(1,187,318

)

-

Amounts repaid

1,016,686

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(170,632

)

-

No interest has been charged on this amount to date.