Liverpool Medals Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01449205 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Liverpool Medals Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L J Rosenbaum

Mrs D L Rosenbaum

J D A Rosenbaum

SECRETARY:

L J Rosenbaum

REGISTERED OFFICE:

61 Rodney Street

Liverpool

Merseyside

L1 9ER

BUSINESS ADDRESS:

1 The Causeway

Altrincham

Cheshire

WA14 1DE

REGISTERED NUMBER:

01449205 (England and Wales)

ACCOUNTANTS:

Alexander Myerson & Co Limited

Alexander House

61 Rodney Street

Liverpool

Merseyside

L1 9ER

FIXED ASSETS

Tangible assets

4

80,592

82,588

CURRENT ASSETS

Stocks

781,076

846,354

Debtors

503

359

Cash at bank and in hand

156,072

41,917

937,651

888,630

CREDITORS

Amounts falling due within one year

106,784

145,095

NET CURRENT ASSETS

830,867

743,535

TOTAL ASSETS LESS CURRENT LIABILITIES

911,459

826,123

CAPITAL AND RESERVES

Called up share capital

5

1,000

1,000

Capital redemption reserve

1,000

1,000

Retained earnings

909,459

824,123

SHAREHOLDERS' FUNDS

911,459

826,123

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 September 2017 and were signed on its behalf by:

L J Rosenbaum - Director

1.	STATUTORY INFORMATION

Liverpool Medals 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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

-

2% on cost

Improvements to property

-

2% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

25% on cost

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.

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 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

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

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

184,819

Additions

1,810

At 31 December 2016

186,629

DEPRECIATION

At 1 January 2016

102,231

Charge for year

3,806

At 31 December 2016

106,037

NET BOOK VALUE

At 31 December 2016

80,592

At 31 December 2015

82,588

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

900

Ordinary

£1

900

900

100

Ordinary A

£1

100

100

1,000

1,000