Gardiner Graphics Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07461434 (England and Wales)

GARDINER GRAPHICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTOR:

Mr C Gardiner

REGISTERED OFFICE:

Unit B

Oak Park Industrial Estate

Northarbour Road

Portsmouth

Hampshire

PO6 3TJ

REGISTERED NUMBER:

07461434 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

24 Park Road South

Havant

Hampshire

PO9 1HB

FIXED ASSETS

Intangible assets

4

14,077

17,917

Tangible assets

5

81,824

108,031

95,901

125,948

CURRENT ASSETS

Stocks

5,650

3,834

Debtors

6

191,615

147,914

Cash at bank and in hand

39,752

4,650

237,017

156,398

CREDITORS

Amounts falling due within one year

7

115,261

83,026

NET CURRENT ASSETS

121,756

73,372

TOTAL ASSETS LESS CURRENT LIABILITIES

217,657

199,320

PROVISIONS FOR LIABILITIES

10,041

14,538

NET ASSETS

207,616

184,782

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

207,615

184,781

SHAREHOLDERS' FUNDS

207,616

184,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 8 February 2018 and were signed by:

Mr C Gardiner - Director

1.	STATUTORY INFORMATION

Gardiner Graphics 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Significant judgements and estimates

The preparation of financial statements requires the use of estimates and assumptions that affect reported

amounts of assets and liabilities at the date of the financial statements, and revenue and expenses during the

reporting period. These estimates and assumptions are based on managements best knowledge of the amount,

event or actions. Actual results may differ from those amounts. In the opinion of the directors, the rate

depreciation applied to fixed assets is the only significant estimate, and is based on their own assessment of the

useful life and residual value of the assets concerned.

Turnover

Turnover represents the value of goods and services supplied, excluding value added tax. Turnover is

recognised on delivery to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2012, is being amortised

evenly over its estimated useful life of ten years.

Patents

Patents are being written off over their useful life of 10 years.

Tangible fixed assets

Tangible fixed assets are included at cost less depreciation and impairment.

Plant & machinery etc - 20% on cost, 10% on cost, 15% on cost and 20% on cost.

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if

appropriate.

Stocks

Inventories have been valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments

Financial instruments are recognised in line with sections 11 and 12 of FRS 102.

Basic financial instruments, such as bank and cash, loans, amounts due to/from group undertakings, trade

receivables and payables are initially recognised at transaction price, unless they constitute a financing

arrangement, when the transaction is measured at present value of the future receipts/payments discounted at a

market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest

rate method.

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 4 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 June 2016

and 31 May 2017

30,298

8,099

38,397

AMORTISATION

At 1 June 2016

16,160

4,320

20,480

Charge for year

3,030

810

3,840

At 31 May 2017

19,190

5,130

24,320

NET BOOK VALUE

At 31 May 2017

11,108

2,969

14,077

At 31 May 2016

14,138

3,779

17,917

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

253,497

Additions

378

At 31 May 2017

253,875

DEPRECIATION

At 1 June 2016

145,466

Charge for year

26,585

At 31 May 2017

172,051

NET BOOK VALUE

At 31 May 2017

81,824

At 31 May 2016

108,031

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

149,183

111,519

Amounts owed by group undertakings

28,259

24,458

Other debtors

14,173

11,937

191,615

147,914

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

50,570

30,016

Amounts owed to group undertakings

7,200

-

Taxation and social security

48,113

47,365

Other creditors

9,378

5,645

115,261

83,026

8.	SECURED DEBTS

There is a fixed and floating charge dated 25 June 2013 against assets held within Gardiner Graphics Limited

and Gardiner Graphics Group Limited.

9.	RELATED PARTY DISCLOSURES

Gardiner Graphics Group Limited

Parent company.

2017

2016

£

£

Amount due from related party at the balance sheet date

28,259

24,458

10.	FIRST YEAR ADOPTION

The company has adopted FRS 102 1A for the year ended 2017. There are no re-statements required under the

new standard for earlier periods which were prepared under the FRSSE 2015 standard.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Gardiner Graphics Limited for the year ended 31 May 2017 which comprise the Income

Statement, Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Gardiner Graphics Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gardiner Graphics Limited and state those matters that we have agreed to state to the director of Gardiner Graphics Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gardiner Graphics Limited director for our work or for this report.

It is your duty to ensure that Gardiner Graphics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gardiner Graphics Limited. You consider that Gardiner Graphics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gardiner Graphics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothman Pantall LLP

Chartered Accountants

24 Park Road South

Havant

Hampshire

PO9 1HB

11 February 2018