Sunfish Services Ltd. - Accounts to registrar (filleted) - small 17.3

SUNFISH SERVICES LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J W Battersby

D. I. Broomfield

Mrs A L Battersby

SECRETARY:

Mr. B. W. Battersby

REGISTERED OFFICE:

Unit 2A Station Yard

Station Road

Melbourne

Derbyshire

DE73 8HJ

REGISTERED NUMBER:

04961655 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Tangible assets

4

92,197

66,369

CURRENT ASSETS

Stocks

5

84,089

68,222

Debtors

6

288,079

305,785

Cash at bank and in hand

72,158

78,623

444,326

452,630

CREDITORS

Amounts falling due within one year

7

256,257

251,595

NET CURRENT ASSETS

188,069

201,035

TOTAL ASSETS LESS CURRENT LIABILITIES

280,266

267,404

CREDITORS

Amounts falling due after more than one year

8

(14,349

)

(11,224

)

PROVISIONS FOR LIABILITIES

11

(9,900

)

(8,800

)

NET ASSETS

256,017

247,380

CAPITAL AND RESERVES

Called up share capital

12

5,000

5,000

Retained earnings

251,017

242,380

SHAREHOLDERS' FUNDS

256,017

247,380

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 by the Board of Directors on 13 February 2018 and were signed on its behalf by:

J W Battersby - Director

1.	STATUTORY INFORMATION

Sunfish Services 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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% per annum of net book value

Fixtures and fittings

-

33% per annum of net book value

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet 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 obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 23 (2016 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2017

14,058

82,465

26,188

122,711

Additions

3,796

14,787

34,650

53,233

At 31 December 2017

17,854

97,252

60,838

175,944

DEPRECIATION

At 1 January 2017

10,847

42,767

2,728

56,342

Charge for year

1,622

13,547

12,236

27,405

At 31 December 2017

12,469

56,314

14,964

83,747

NET BOOK VALUE

At 31 December 2017

5,385

40,938

45,874

92,197

At 31 December 2016

3,211

39,698

23,460

66,369

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

Motor

vehicles

£

COST

At 1 January 2017

26,188

Additions

34,650

At 31 December 2017

60,838

DEPRECIATION

At 1 January 2017

2,728

Charge for year

12,236

At 31 December 2017

14,964

NET BOOK VALUE

At 31 December 2017

45,874

At 31 December 2016

23,460

5.

STOCKS

2017

2016

£

£

Stocks

84,089

68,222

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

277,335

250,046

Other debtors

-

689

Prepayments and accrued income

10,744

55,050

288,079

305,785

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 9)

15,279

6,729

Trade creditors

97,157

85,509

Taxation and social security

102,947

106,430

Other creditors

40,874

52,927

256,257

251,595

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 9)

14,349

11,224

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2017

2016

£

£

Net obligations repayable:

Within one year

15,279

6,729

Between one and five years

14,349

11,224

29,628

17,953

Non-cancellable operating

leases

2017

2016

£

£

Within one year

10,076

7,036

Between one and five years

532

27,473

10,608

34,509

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

29,628

17,953

Assets financed under hire purchase agreements are secured on the individual assets concerned.

11.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

9,900

8,800

Deferred

tax

£

Balance at 1 January 2017

8,800

Provided during year

1,100

Balance at 31 December 2017

9,900

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

5,000

Ordinary

£1.00

5,000

5,000

13.	RELATED PARTY DISCLOSURES

Fire Trade Supplies Ltd - a company with common control

During the year Sunfish Services Ltd sold goods to Fire Trade Supplies Ltd amounting to £828,169. The goods

were sold at cost.

Management charges were invoiced during the year to Fire Trade Supplies Ltd amounting to £167,973.