Top Banana Communication Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03726387 (England and Wales)

TOP BANANA COMMUNICATION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr R A Bridge

Mr N J Terry

SECRETARY:

Mr R A Bridge

REGISTERED OFFICE:

The Studio

Broome

Stourbridge

West Midlands

DY9 0HA

REGISTERED NUMBER:

03726387 (England and Wales)

ACCOUNTANTS:

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and

certain other primary statements and the Report of the Directors are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Top Banana Communication Limited for the year ended 31 March 2017 which comprise the

Income Statement, Statement of Financial Position, and the related notes from the company's accounting records and

from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Top Banana Communication Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Top Banana Communication Limited and state those matters that we have agreed to state to the Board of Directors of Top Banana Communication Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Top Banana Communication Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Top Banana Communication Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Top Banana Communication Limited. You consider that Top Banana Communication Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Top Banana Communication Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

25 July 2017

FIXED ASSETS

Intangible assets

4

-

171

Tangible assets

5

67,314

84,346

67,314

84,517

CURRENT ASSETS

Stocks

500

500

Debtors

6

1,218,974

989,569

Cash at bank and in hand

943,990

983,137

2,163,464

1,973,206

CREDITORS

Amounts falling due within one year

7

1,091,197

944,419

NET CURRENT ASSETS

1,072,267

1,028,787

TOTAL ASSETS LESS CURRENT LIABILITIES

1,139,581

1,113,304

CREDITORS

Amounts falling due after more than one year

8

-

(4,314

)

PROVISIONS FOR LIABILITIES

(8,120

)

(10,221

)

NET ASSETS

1,131,461

1,098,769

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,131,459

1,098,767

SHAREHOLDERS' FUNDS

1,131,461

1,098,769

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 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 25 July 2017 and were signed on its behalf by:

Mr R A Bridge - Director

Mr N J Terry - Director

1.	STATUTORY INFORMATION

Top Banana Communication 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 represents net sales of goods and services, excluding value added tax

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office 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.

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.

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.

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

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.

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 48 (2016 - 48 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2016

and 31 March 2017

150,000

3,945

153,945

AMORTISATION

At 1 April 2016

150,000

3,774

153,774

Charge for year

-

171

171

At 31 March 2017

150,000

3,945

153,945

NET BOOK VALUE

At 31 March 2017

-

-

-

At 31 March 2016

-

171

171

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

210,152

22,256

52,655

60,713

345,776

Additions

5,548

-

-

2,831

8,379

Disposals

(1,283

)

-

(19,995

)

-

(21,278

)

At 31 March 2017

214,417

22,256

32,660

63,544

332,877

DEPRECIATION

At 1 April 2016

156,829

20,677

26,885

57,039

261,430

Charge for year

14,221

437

6,290

1,330

22,278

Eliminated on disposal

(1,046

)

-

(17,099

)

-

(18,145

)

At 31 March 2017

170,004

21,114

16,076

58,369

265,563

NET BOOK VALUE

At 31 March 2017

44,413

1,142

16,584

5,175

67,314

At 31 March 2016

53,323

1,579

25,770

3,674

84,346

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

Motor

vehicles

£

COST

At 1 April 2016

and 31 March 2017

22,110

DEPRECIATION

At 1 April 2016

5,067

Charge for year

4,261

At 31 March 2017

9,328

NET BOOK VALUE

At 31 March 2017

12,782

At 31 March 2016

17,043

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,014,909

853,120

Other debtors

204,065

136,449

1,218,974

989,569

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

8,269

-

Hire purchase contracts

4,314

9,996

Trade creditors

200,599

362,905

Taxation and social security

266,996

161,339

Other creditors

611,019

410,179

1,091,197

944,419

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

4,314

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £312,461 (2016 - £382,547) were paid to the directors .

10.	ULTIMATE CONTROLLING PARTY

Control of the company is exercised by the board of directors by virtue of their shareholdings in the company.

No one individual is able to exercise sole control.

11.	FIRST YEAR ADOPTION

No adjustments to the values included in the financial statements were required on transition to Financial

Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".