Vivid Laminating Technologies Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02063018 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

Vivid Laminating Technologies Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Evans

R N Brewin

SECRETARY:

Mrs R E Evans

REGISTERED OFFICE:

Matrix House

Norman Court

Ivanhoe Business Park

Ashby de la Zouch

Leicestershire

LE65 2UZ

REGISTERED NUMBER:

02063018 (England and Wales)

ACCOUNTANTS:

The Chartwell Practice Ltd

Chartwell House

4 St. Paul's Square

Burton-on-Trent

Staffordshire

DE14 2EF

FIXED ASSETS

Tangible assets

4

1,206,167

219,818

Investments

5

11,667

11,667

1,217,834

231,485

CURRENT ASSETS

Stocks

931,813

814,739

Debtors

6

1,478,101

1,312,376

Cash at bank and in hand

1,925,720

1,568,052

4,335,634

3,695,167

CREDITORS

Amounts falling due within one year

7

1,429,348

948,210

NET CURRENT ASSETS

2,906,286

2,746,957

TOTAL ASSETS LESS CURRENT LIABILITIES

4,124,120

2,978,442

CREDITORS

Amounts falling due after more than one year

8

(542,368

)

(131,733

)

PROVISIONS FOR LIABILITIES

(10,240

)

(3,678

)

NET ASSETS

3,571,512

2,843,031

CAPITAL AND RESERVES

Called up share capital

7,502

7,502

Retained earnings

3,564,010

2,835,529

SHAREHOLDERS' FUNDS

3,571,512

2,843,031

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 25 January 2018 and were signed on its behalf by:

M Evans - Director

1.	STATUTORY INFORMATION

Vivid Laminating Technologies Ltd 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 represents the sale of goods excluding Value Added Tax. In the year to 30 April 2017 28.18% (2016 :

25.17%) of the company's turnover was to markets outside the United Kingdom.

Tangible fixed assets

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

Plant and machinery

-

Straight line over 3 years

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% 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.

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 37 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 May 2016

-

152,005

159,046

338,034

649,085

Additions

837,968

-

16,000

250,555

1,104,523

Disposals

-

-

-

(125,048

)

(125,048

)

At 30 April 2017

837,968

152,005

175,046

463,541

1,628,560

DEPRECIATION

At 1 May 2016

-

152,005

117,163

160,099

429,267

Charge for year

-

-

6,683

43,379

50,062

Eliminated on disposal

-

-

-

(56,936

)

(56,936

)

At 30 April 2017

-

152,005

123,846

146,542

422,393

NET BOOK VALUE

At 30 April 2017

837,968

-

51,200

316,999

1,206,167

At 30 April 2016

-

-

41,883

177,935

219,818

The net book value within Fixtures and Fittings and Motor Vehicles includes £294,996 (2016 : £164,232) in respect

of assets held under hire purchase contracts. The depreciation charge in respect of these assets is £46,103 (2016 :

£114,388).

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

30.4.17

30.4.16

£

£

Fixed Asset Investment

11,667

11,667

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

1,052,570

873,374

Other debtors

62,132

51,320

Payments on account

321,311

332,201

Prepayments

42,088

55,481

1,478,101

1,312,376

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Hire purchase contracts

55,881

41,719

Trade creditors

731,433

473,142

Tax

112,364

120,056

Social security and other taxes

23,351

63,400

Loans < 1 year

245,583

114,358

Directors' current accounts

25,397

108,946

Accrued expenses

235,339

26,589

1,429,348

948,210

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Hire purchase contracts

117,278

20,921

Loans > 1 year

425,090

110,812

542,368

131,733

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.17

30.4.16

£

£

Hire purchase contracts

173,159

62,640

The hire purchase contracts are secured on the assets to which they relate.

10.	FIRST YEAR ADOPTION

The company has transitioned to FRS 102 from previously being prepared under the historical cost convention and

in accordance with the Financial Reporting Standards for Smaller Entities (effective January 2015) as at 1st January

2015.

Reconciliation of equity

No transitional adjustments were required.

Reconciliation of profit or loss for the year

No transitional adjustments were required.