Cazenove Printers Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07148301 (England and Wales)

Financial Statements

for the Year Ended 28 February 2017

for

CAZENOVE PRINTERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

Mr K Cohen

Registered office:

305 Regents Park Road

London

London

N3 1DP

Registered number:

07148301 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

305 Regents Park Road

Finchley

London

N3 1DP

Fixed assets

Intangible assets

4

9,250

12,250

Tangible assets

5

4,103

2,140

13,353

14,390

Current assets

Stocks

6

114,403

110,441

Debtors

7

73,293

52,188

Cash at bank

1,148

-

188,844

162,629

Creditors

Amounts falling due within one year

8

167,338

176,096

Net current assets/(liabilities)

21,506

(13,467

)

Total assets less current liabilities

34,859

923

Provisions for liabilities

821

428

Net assets

34,038

495

Capital and reserves

Called up share capital

9

1

1

Retained earnings

10

34,037

494

Shareholders' funds

34,038

495

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 9 November 2017 and were signed by:

Mr K Cohen - Director

1.	Statutory information

Cazenove Printers 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

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

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.

Fixtures and fittings

-

25% on reducing balance

Computer 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 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.

3.	Employees and directors

The average number of employees during the year was 1 (2016 - 1 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 29 February 2016

and 28 February 2017

30,000

Amortisation

At 29 February 2016

17,750

Amortisation for year

3,000

At 28 February 2017

20,750

Net book value

At 28 February 2017

9,250

At 28 February 2016

12,250

5.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 29 February 2016

669

5,619

6,288

Additions

-

3,332

3,332

At 28 February 2017

669

8,951

9,620

Depreciation

At 29 February 2016

547

3,601

4,148

Charge for year

31

1,338

1,369

At 28 February 2017

578

4,939

5,517

Net book value

At 28 February 2017

91

4,012

4,103

At 28 February 2016

122

2,018

2,140

6.

Stocks

2017

2016

£

£

Stocks

114,403

110,441

7.

Debtors: amounts falling due within one year

2017

2016

£

£

Trade debtors

65,676

51,892

VAT

6,140

296

Prepayments

1,477

-

73,293

52,188

8.

Creditors: amounts falling due within one year

2017

2016

£

£

Bank loans and overdrafts

11,219

9,818

Trade creditors

960

13,740

Tax

9,994

3,701

Directors' current accounts

142,565

145,937

Accrued expenses

2,600

2,900

167,338

176,096

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

10.

Reserves

Retained

earnings

£

At 29 February 2016

494

Profit for the year

38,543

Dividends

(5,000

)

At 28 February 2017

34,037

11.	Ultimate controlling party

The ultimate controlling party of the company is the director, Mr K Cohen by virtue of his majority shareholding

of the issued share capital of the company.

12.

Frs 102

The first date at which FRS 102 was applied was 01 March 2015. In accordance with FRS 102 the company

has:

- Provided comparative information;

- Applied the same accounting policies throughout all periods presented; and

- Retrospectively applied FRS 102 as required.

On transition, management have considered the effect of any changes in accounting treatment from UK GAAP

to FRS 102 for this company and have concluded that there are no material changes that warrant restatement

of the comparative financials.