Rapanui Clothing Limited - Accounts to registrar - small 17.2
Rapanui Clothing Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| FOR |
| RAPANUI CLOTHING LIMITED |
| RAPANUI CLOTHING LIMITED (REGISTERED NUMBER: 07071956) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| RAPANUI CLOTHING LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Pyle House |
| 136/137 Pyle Street |
| Newport |
| Isle of Wight |
| PO30 1JW |
| RAPANUI CLOTHING LIMITED (REGISTERED NUMBER: 07071956) |
| STATEMENT OF FINANCIAL POSITION |
| 31ST DECEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| RAPANUI CLOTHING LIMITED (REGISTERED NUMBER: 07071956) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31ST DECEMBER 2016 |
| 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 its behalf by: |
| RAPANUI CLOTHING LIMITED (REGISTERED NUMBER: 07071956) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| Rapanui Clothing Limited is a |
| 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. |
| This is the first year in which the financial statements have been prepared under FRS 102 Section 1A. |
| The first time adoption of FRS 102 Section 1A has not given rise to any material restatement of prior |
| year figures. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding |
| discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant & machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Tangible fixed assets, other than land and buildings, are stated at historical cost less accumulated |
| depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to |
| the location and condition necessary for it to be capable of operating as intended. |
| Freehold land is not depreciated. |
| 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 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 have been |
| enacted or substantively enacted by the statement of financial position date. |
| RAPANUI CLOTHING LIMITED (REGISTERED NUMBER: 07071956) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the statement of financial position 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. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
| the statement of financial position 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 |
| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the |
| risks and rewards of ownership of the leased asset to the company. |
| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed |
| assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and |
| their useful lives. Obligations unders such agreements are included in creditors net of the finance |
| charge allocated to future periods.The finance element of the rental payment is charged to the profit |
| and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding |
| in each period. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| RAPANUI CLOTHING LIMITED (REGISTERED NUMBER: 07071956) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Short | Long | to |
| leasehold | leasehold | property |
| £ | £ | £ |
| COST |
| At 1st January 2016 |
| Additions |
| Disposals | ( |
) |
| At 31st December 2016 |
| DEPRECIATION |
| At 1st January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31st December 2016 |
| NET BOOK VALUE |
| At 31st December 2016 |
| At 31st December 2015 |
| Fixtures |
| Plant & | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st January 2016 |
| Additions |
| Disposals | ( |
) |
| At 31st December 2016 |
| DEPRECIATION |
| At 1st January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31st December 2016 |
| NET BOOK VALUE |
| At 31st December 2016 |
| At 31st December 2015 |
| RAPANUI CLOTHING LIMITED (REGISTERED NUMBER: 07071956) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans and overdrafts |
| Customer Deposits |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 307,008 | - |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2016 | 2015 |
| £ | £ |
| Bank loans |
| Lloyds Bank have a fixed and floating charge over the company assets and undertakings. |
| Lombard HP financing is secured on the assets financed. |
| RAPANUI CLOTHING LIMITED (REGISTERED NUMBER: 07071956) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2016 |
| 9. | RELATED PARTY TRANSACTIONS |
| Directors' current accounts directors subsisted during the years ended 31st December 2016 and |
| 31st December 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Dividends were declared and paid of £20,433 (2015- £Nil) to the directors. |
| During the year, Sarratt Equity Limited, a company controlled by the director, W Hobhouse, provided |
| consultancy services for £10,278 (2015: £nil) on normal trade terms on an arm's length basis. |
| 10. | ULTIMATE CONTROLLING PARTY |
| There is no ultimate controlling party. |