One Stop Check Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06439710 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

ONE STOP CHECK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P Richards

SECRETARY:

Mrs E Richards

REGISTERED OFFICE:

Unit 15 Betws Business Park

Park Street

Ammanford

Carmarthenshire

SA18 2ET

REGISTERED NUMBER:

06439710 (England and Wales)

ACCOUNTANTS:

Wynne and Co

Forestry House

Brewery Road

Carmarthen

Carmarthenshire

SA31 1TF

FIXED ASSETS

Intangible assets

4

36,000

40,000

Tangible assets

5

7,243

7,266

43,243

47,266

CURRENT ASSETS

Stocks

6

5,675

5,625

Debtors

7

7,528

5,296

Cash in hand

1,830

12

15,033

10,933

CREDITORS

Amounts falling due within one year

8

54,220

55,400

NET CURRENT LIABILITIES

(39,187

)

(44,467

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,056

2,799

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

11

4,054

2,797

SHAREHOLDERS' FUNDS

4,056

2,799

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 17 August 2017 and were signed by:

Mr P Richards - Director

1.	STATUTORY INFORMATION

One Stop Check Limited 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

In accordance with transitional changes under FRS 102 Section 1A goodwill has been reviewed and is

now being amortised over 10 years from 1 April 2016.

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.

Tangible fixed assets

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

Freehold property

-

not provided

Tools & Equipment

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

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.

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 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.

Hire purchase and leasing commitments

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 year was 5 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

50,000

AMORTISATION

At 1 April 2016

10,000

Amortisation for year

4,000

At 31 March 2017

14,000

NET BOOK VALUE

At 31 March 2017

36,000

At 31 March 2016

40,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Tools &

and

Motor

property

Equipment

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2016

1,831

12,068

376

5,109

19,384

Additions

-

-

999

-

999

At 31 March 2017

1,831

12,068

1,375

5,109

20,383

DEPRECIATION

At 1 April 2016

-

7,322

250

4,546

12,118

Charge for year

-

712

169

141

1,022

At 31 March 2017

-

8,034

419

4,687

13,140

NET BOOK VALUE

At 31 March 2017

1,831

4,034

956

422

7,243

At 31 March 2016

1,831

4,746

126

563

7,266

6.

STOCKS

31.3.17

31.3.16

£

£

Stocks

5,675

5,625

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

7,000

4,900

Prepayments

528

396

7,528

5,296

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

9,089

9,651

Trade creditors

15,307

16,817

Tax

7,555

3,574

Social security and other taxes

866

1,941

VAT

15,227

13,065

Other creditors

2,788

578

Directors' loan accounts

2,012

8,804

Accrued expenses

1,376

970

54,220

55,400

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Bank overdrafts

9,089

9,651

National Westminster Bank Plc hold a debenture dated 16 February 2008 to cover all borrowings by

the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Retained

earnings

£

At 1 April 2016

2,797

Profit for the year

26,257

Dividends

(25,000

)

At 31 March 2017

4,054

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017

and 31 March 2016:

31.3.17

31.3.16

£

£

Mr P Richards

Balance outstanding at start of year

(8,804

)

2,392

Amounts advanced

43,210

19,919

Amounts repaid

(36,418

)

(31,115

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,012

)

(8,804

)

Credits include dividends paid to the director and members of his immediate family totalling

£25,000 (2016 - £11,000).

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Richards.