Cable Tapes (UK) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06561221 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2017

FOR

CABLE TAPES (UK) LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M Van Der Zwan

P V Haines

SECRETARY:

Mrs L Van Der Zwan

REGISTERED OFFICE:

1 City Road East

Manchester

M15 4PN

REGISTERED NUMBER:

06561221 (England and Wales)

ACCOUNTANTS:

KAY JOHNSON GEE LLP

1 City Road East

Manchester

M15 4PN

FIXED ASSETS

Tangible assets

4

221,648

221,913

Investments

5

10,000

10,000

231,648

231,913

CURRENT ASSETS

Stocks

209,607

381,544

Debtors

6

745,924

1,080,835

Cash at bank and in hand

243,129

112,945

1,198,660

1,575,324

CREDITORS

Amounts falling due within one year

7

795,224

1,174,290

NET CURRENT ASSETS

403,436

401,034

TOTAL ASSETS LESS CURRENT LIABILITIES

635,084

632,947

CREDITORS

Amounts falling due after more than one year

8

(9,802

)

-

PROVISIONS FOR LIABILITIES

(42,113

)

(44,382

)

NET ASSETS

583,169

588,565

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

583,167

588,563

SHAREHOLDERS' FUNDS

583,169

588,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 and authorised for issue by the Board of Directors on 14th December 2017 and were signed on its behalf by:

M Van Der Zwan - Director

1.	STATUTORY INFORMATION

Cable Tapes (UK) Limited is a private company limited by share capital, incorporated in England and Wales,

registration number 06561221. The address of the registered office is 1 City Road East, Manchester, M15 4PN.

The address of the principal place of business is New St Marks Works, St Marks Lane, Manchester, M7 4FE.

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.

Preparation of consolidated financial statements

The financial statements contain information about Cable Tapes (UK) Ltd as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 399(2A) of the Companies Act 2006 not to prepare consolidated financial statements.

Significant judgements and estimates

In the application of the Company's accounting policies, management is required to make judgements,

estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from

other sources. The estimates and underlying assumptions are based on historical experience and other factors

that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised if the revision affects only that period, or in the

period of the revision and future periods if the revision affects both current and future period.

Turnover

Turnover represents amounts recognised by the group in respect of goods supplied, exclusive of Value Added

Tax and trade discounts.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated

impairment losses.

The company assesses at each reporting date whether tangible fixed assets are impaired.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their

estimated useful lives, using the following methods:

Plant and machinery

20% on cost

Fixtures and fittings

15% on cost

Motor vehicles

25% on reducing balance

Computer equipment

33% on cost

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant

change since the last annual reporting date in the pattern by which the company expects to consume an asset's

future economic benefits.

Investments in subsidiaries

Investments in subsidiary undertakings are stated at cost less amounts written off as impairment losses.

Stocks

Stocks are recognised at the lower of cost and estimated selling price less costs to complete and sell. Cost is

based on the first-in first out basis and includes expenditure incurred in acquiring the stocks, production or

conversion costs and other costs in bringing them to their existing location and condition.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual

arrangement, as financial assets, financial liabilities or equity instruments.

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 that are held by the company under leases which transfer to the company substantially all the risks and

rewards of ownership are classified as being held under finance leases. Leases which do not transfer

substantially all the risks and rewards of ownership to the company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the company at their fair value at the

inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding

liability to the lessor is included in the statements of financial position as a finance lease obligation. Lease

payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a

constant rate of interest on the remaining balance of the liability, finance expenses are recognised immediately

in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in

accordance with the company's policy on borrowing costs .

Pension costs and other post-retirement benefits

The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The

assets of the scheme are held separately from those of the Company in an independent administered fund.

Trade and other debtors/creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade

and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent

to initial recognition they are measured at amortised cost using the effective interest method, less any

impairment losses in the case of trade debtors.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st July 2016

287,395

40,959

15,534

31,537

375,425

Additions

64,571

6,222

3,000

3,245

77,038

Disposals

-

-

(3,000

)

-

(3,000

)

At 30th June 2017

351,966

47,181

15,534

34,782

449,463

DEPRECIATION

At 1st July 2016

104,405

16,920

7,383

24,804

153,512

Charge for year

60,655

6,683

2,412

4,928

74,678

Eliminated on disposal

-

-

(375

)

-

(375

)

At 30th June 2017

165,060

23,603

9,420

29,732

227,815

NET BOOK VALUE

At 30th June 2017

186,906

23,578

6,114

5,050

221,648

At 30th June 2016

182,990

24,039

8,151

6,733

221,913

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st July 2016

70,500

15,245

85,745

Additions

-

19,045

19,045

Transfer to ownership

-

(15,245

)

(15,245

)

At 30th June 2017

70,500

19,045

89,545

DEPRECIATION

At 1st July 2016

43,775

7,209

50,984

Charge for year

-

18,961

18,961

Transfer to ownership

-

(9,213

)

(9,213

)

At 30th June 2017

43,775

16,957

60,732

NET BOOK VALUE

At 30th June 2017

26,725

2,088

28,813

At 30th June 2016

26,725

8,036

34,761

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st July 2016

and 30th June 2017

10,000

NET BOOK VALUE

At 30th June 2017

10,000

At 30th June 2016

10,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

701,217

1,057,641

Amounts owed by group undertakings

-

693

Other debtors

44,707

22,501

745,924

1,080,835

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Hire purchase contracts

4,175

18,205

Trade creditors

241,143

632,563

Amounts owed to group undertakings

379

-

Taxation and social security

83,563

97,818

Other creditors

465,964

425,704

795,224

1,174,290

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.17

30.6.16

£

£

Hire purchase contracts

9,802

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.17

30.6.16

£

£

Other loans

90,336

269,106

Hire purchase contracts

13,977

18,205

104,313

287,311

Advances against book debts are secured by a fixed and floating charge over the assets of the company.

Amounts due under hire purchase liabilities are secured on the assets concerned.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.17

30.6.16

value:

£

£

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

2

2

11.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102. The last financial statements

under UK GAAP were for the year ended 30th June 2016. The date of transition to FRS 102 was 1s July 2015.

There are no transitional adjustments arising from the first time adoption of FRS 102.