21st Century Trading Limited Small abridged accounts

21ST CENTURY TRADING LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of 21st Century Trading Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 02676845

21st Century Trading Limited

Unaudited Abridged Financial Statements

31 March 2017

21st Century Trading Limited

Abridged Financial Statements

Year ended 31 March 2017

Contents	Page

Officers and professional advisers	1

Director's report	2

Abridged statement of income and retained earnings	3

Abridged statement of financial position	4

Notes to the abridged financial statements	5

The following pages do not form part of the abridged financial statements

Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements	9

21st Century Trading Limited

Officers and Professional Advisers

Director	Mr M Mond

Company secretary	Mrs V Dalchan

Registered office	156A Burnt Oak Broadway
	Edgware
	Middlesex
	HA8 OAX

Accountants	Mouktaris & Co
	Chartered accountant
	156A Burnt Oak Broadway
	Edgware
	Middlesex HA8 0AX
	E-mail:admin@mouktaris.co.uk

Bankers	HSBC BANK PLC
	Rochester Row
	166 Vauxhall Bridge Rd
	London
	SW1V 2RB

21st Century Trading Limited

Director's Report

Year ended 31 March 2017

The director presents his report and the unaudited abridged financial statements of the company for the year ended 31 March 2017 .

Principal activities

The Company continues trading as Men's Clothing Wholesalers and Retailers.

Director

The director who served the company during the year was as follows:

Mr M Mond

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 13 December 2017 and signed on behalf of the board by:

Mrs V Dalchan

Company Secretary

Registered office:

156A Burnt Oak Broadway

Edgware

Middlesex

HA8 OAX

21st Century Trading Limited

Abridged Statement of Income and Retained Earnings

Year ended 31 March 2017

	2017	2016
Note	£	£
Gross profit	39,371	38,323

Administrative expenses	33,630	31,336
	--------	--------
Operating profit	5,741	6,987

	--------	--------
Profit before taxation	5,741	6,987

Tax on profit	1,148	1,397
	-------	-------
Profit for the financial year and total comprehensive income	4,593	5,590
	-------	-------

Dividends paid and payable	( 6,500)	( 7,000)

Retained earnings at the start of the year	13,158	14,568
	--------	--------
Retained earnings at the end of the year	11,251	13,158
	--------	--------

All the activities of the company are from continuing operations.

21st Century Trading Limited

Abridged Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	3		2,153	2,153

Current assets

Stocks	10,740	11,460
Debtors	4,645	4,638
Cash at bank and in hand	3,162	3,653
	--------	--------
	18,547	19,751

Creditors: amounts falling due within one year	9,447		8,744
	--------		--------
Net current assets		9,100	11,007
		--------	--------
Total assets less current liabilities		11,253	13,160
		--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	11,251	13,158
	--------	--------
Shareholders funds	11,253	13,160
	--------	--------

These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 13 December 2017 , and are signed on behalf of the board by:

Mr M Mond
Director

Company registration number: 02676845

21st Century Trading Limited

Notes to the Abridged Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 156A Burnt Oak Broadway, Edgware, Middlesex, HA8 OAX.

2. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Corporation tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments.

3. Tangible assets

	£
Cost
At 1 April 2016 and 31 March 2017	8,950
	-------
Depreciation
At 1 April 2016 and 31 March 2017	6,797
	-------
Carrying amount
At 31 March 2017	2,153
	-------
At 31 March 2016	2,153
	-------

4. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr M Mond	( 196)	6,284	( 6,500)	( 412)
	----	-------	-------	----

	2016
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr M Mond	( 125)	6,929	( 7,000)	( 196)
	----	-------	-------	----

5. Controlling interest

The company is controlled by Mr M Mond , by virtue of his directorship and 100% shareholding.

21st Century Trading Limited

Management Information

Year ended 31 March 2017

The following pages do not form part of the abridged financial statements.

21st Century Trading Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of 21st Century Trading Limited

Year ended 31 March 2017

As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 31 March 2017, which comprise the abridged statement of income and retained earnings, abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Mouktaris & Co Chartered accountant

156A Burnt Oak Broadway Edgware Middlesex HA8 0AX E-mail:admin@mouktaris.co.uk

13 December 2017