Express Sourcing Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09800132 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Express Sourcing Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S M Walmsley

REGISTERED OFFICE:

Brookhouse Farm

Houghton Lane

Houghton

Preston

Lancashire

PR5 0JD

REGISTERED NUMBER:

09800132 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Tangible assets

4

187

250

CURRENT ASSETS

Debtors

273,270

168,006

Cash at bank and in hand

688

18,450

273,958

186,456

CREDITORS

Amounts falling due within one year

92,206

86,462

NET CURRENT ASSETS

181,752

99,994

TOTAL ASSETS LESS CURRENT LIABILITIES

181,939

100,244

CREDITORS

Amounts falling due after more than one year

(150,000

)

(100,000

)

PROVISIONS FOR LIABILITIES

(36

)

(50

)

NET ASSETS

31,903

194

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

31,902

193

SHAREHOLDERS' FUNDS

31,903

194

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 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 director on 30 November 2017 and were signed by:

S M Walmsley - Director

1.	STATUTORY INFORMATION

Express Sourcing 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.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

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.

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 1 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

333

DEPRECIATION

At 1 April 2016

83

Charge for year

63

At 31 March 2017

146

NET BOOK VALUE

At 31 March 2017

187

At 31 March 2016

250

5.	RELATED PARTY DISCLOSURES

During the year the company made sales of £740,789 (2016: £177,750), on normal commercial terms, to Buyer

Direct Ltd, a company owned by the partner of the director of the company.

Included within Trade Debtors Ltd is an amount of £69,480 (2016: £79,000) owed by Buyer Direct Ltd.

6.	ULTIMATE CONTROLLING PARTY

The controlling party is S M Walmsley.