Nobisco Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01945617 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Nobisco Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A R Morrison

DT Marshall

M A Beaman

SECRETARY:

A R Morrison

REGISTERED OFFICE:

20 Gavin Way

Nexus Point

Holford Broadlands

Birmingham

West Midlands

B6 7AF

REGISTERED NUMBER:

01945617 (England and Wales)

ACCOUNTANTS:

Locke Williams Associates LLP

Chartered Accountants

Blackthorn House

St Pauls Square

Birmingham

West Midlands

B3 1RL

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

275,468

309,230

275,469

309,231

CURRENT ASSETS

Stocks

463,636

431,834

Debtors

6

1,627,040

1,587,339

Cash at bank and in hand

774,023

497,796

2,864,699

2,516,969

CREDITORS

Amounts falling due within one year

7

806,208

766,221

NET CURRENT ASSETS

2,058,491

1,750,748

TOTAL ASSETS LESS CURRENT LIABILITIES

2,333,960

2,059,979

CREDITORS

Amounts falling due after more than one year

8

(55,315

)

(77,971

)

PROVISIONS FOR LIABILITIES

(5,942

)

(11,463

)

NET ASSETS

2,272,703

1,970,545

CAPITAL AND RESERVES

Called up share capital

10

1,100

1,100

Retained earnings

2,271,603

1,969,445

SHAREHOLDERS' FUNDS

2,272,703

1,970,545

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 8 September 2017 and were signed on its behalf by:

A R Morrison - Director

DT Marshall - Director

M A Beaman - Director

1.	STATUTORY INFORMATION

Nobisco 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.

These financial statements for the year ended 31 March 2017 are the first financial statements that

comply with FRS 102 Section 1A small entities. The date of transition is 1 April 2015.

The transition to FRS 102 Section 1A small entities has not resulted in the any material change in

accounting policies to those used previously:

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch.

Goodwill

Goodwill represents the excess of cost of acquisition over the fair value of the separable net assets of

businesses acquired. Goodwill is amortised through the profit and loss account in equal instalments

over its useful economic life.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Over the period of the lease

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

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

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.

Grants

The company is in receipt of various grants arising from eligible capital expenditure. Any grants

received are netted off the purchase costs of the associated fixed assets and the net figure is

capitalised in the accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

144,578

AMORTISATION

At 1 April 2016

and 31 March 2017

144,577

NET BOOK VALUE

At 31 March 2017

1

At 31 March 2016

1

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2016

36,530

62,203

13,745

Additions

-

1,713

-

At 31 March 2017

36,530

63,916

13,745

DEPRECIATION

At 1 April 2016

-

52,857

13,292

Charge for year

7,306

5,686

362

Eliminated on disposal

-

-

-

At 31 March 2017

7,306

58,543

13,654

NET BOOK VALUE

At 31 March 2017

29,224

5,373

91

At 31 March 2016

36,530

9,346

453

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2016

447,231

172,339

732,048

Additions

87,684

8,837

98,234

Disposals

(94,825

)

-

(94,825

)

At 31 March 2017

440,090

181,176

735,457

DEPRECIATION

At 1 April 2016

210,580

146,088

422,817

Charge for year

82,796

12,605

108,755

Eliminated on disposal

(71,583

)

-

(71,583

)

At 31 March 2017

221,793

158,693

459,989

NET BOOK VALUE

At 31 March 2017

218,297

22,483

275,468

At 31 March 2016

236,651

26,251

309,231

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

Motor

vehicles

£

COST

At 1 April 2016

322,723

Additions

87,684

Disposals

(94,825

)

Transfer to ownership

1,916

At 31 March 2017

317,498

DEPRECIATION

At 1 April 2016

97,031

Charge for year

78,298

Eliminated on disposal

(71,583

)

Transfer to ownership

7,827

At 31 March 2017

111,573

NET BOOK VALUE

At 31 March 2017

205,925

At 31 March 2016

225,692

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

as

restated

£

£

Trade debtors

858,749

805,502

Amounts owed by participating interests

706,207

725,968

Other debtors

17,597

15,274

Prepayments and accrued income

44,487

40,595

1,627,040

1,587,339

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

as

restated

£

£

Hire purchase contracts

80,368

71,036

Trade creditors

524,671

508,376

Tax

83,840

57,127

Social security and other taxes

21,468

17,479

VAT

81,351

52,214

Other creditors

7,468

(12

)

Accruals and deferred income

7,042

60,001

806,208

766,221

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

as

restated

£

£

Hire purchase contracts

55,315

77,971

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

as

restated

£

£

Hire purchase contracts

135,683

149,007

Amounts due under hire purchase agreements are secured against the assets purchased.

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

as restated

£

£

1,100

Ordinary shares

£1

1,100

1,100

11.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance

sheet amount to £357,500 (2015 £467,500).

12.	RELATED PARTY DISCLOSURES

The company leases its property for £110,000 per annum from a company under common control. The

rental is at a commercial rate as was determined at the time that the property was purchased, in June

2015. The arrangements are covered by a lease which has an initial rental period of five years.

The company has charged management charges totalling £20,609 (2016 £7,000) and loan interest

totalling £32,065 (2016 £32,587) to companies under common control.

The aggregate amounts due to this company from those companies at 31 March 2017 is £706,207

(2015 £725,968).

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A R Morrison.