EXD Limited - Accounts to registrar (filleted) - small 17.3

EXD Limited - Accounts to registrar (filleted) - small 17.3


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REGISTERED NUMBER: 03090399 (England and Wales)















EXD LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2017






EXD LIMITED (REGISTERED NUMBER: 03090399)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2017







DIRECTORS: P J Brown
C A Parsons





SECRETARY: P J Brown





REGISTERED OFFICE: Central Chambers
45-47 Albert Street
Rugby
Warwickshire
CV21 2SG





REGISTERED NUMBER: 03090399 (England and Wales)





ACCOUNTANTS: Atkinson Finch & Co
Chartered Accountants
Central Chambers
45-47 Albert Street
Rugby
Warwickshire
CV21 2SG

EXD LIMITED (REGISTERED NUMBER: 03090399)

BALANCE SHEET
31ST JULY 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,506 52,740

CURRENT ASSETS
Stocks 4,847 4,063
Debtors 5 175,921 106,850
Cash at bank 13,323 84,061
194,091 194,974
CREDITORS
Amounts falling due within one year 6 184,905 166,579
NET CURRENT ASSETS 9,186 28,395
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,692

81,135

CREDITORS
Amounts falling due after more than one
year

7

8,693

17,461
NET ASSETS 40,999 63,674

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 40,979 63,654
40,999 63,674

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

EXD LIMITED (REGISTERED NUMBER: 03090399)

BALANCE SHEET - continued
31ST JULY 2017


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 16th January 2018 and were signed on its behalf
by:





C A Parsons - Director


EXD LIMITED (REGISTERED NUMBER: 03090399)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2017

1. STATUTORY INFORMATION

EXD 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.

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
There are no significant judgements that have a material effect on the accounts nor any accounting estimates that
have a high risk of causing a material adjustment in a future accounting period.

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

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% on reducing balance
Fixtures and fittings - 25% on reducing balance and 20% on cost
Motor vehicles - 25% on cost

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.

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.

EXD LIMITED (REGISTERED NUMBER: 03090399)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2017

2. ACCOUNTING POLICIES - continued

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 9 (2016 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st August 2016 81,690 29,043 108,597 219,330
Additions 10,000 300 - 10,300
Disposals (3,166 ) (1,621 ) - (4,787 )
At 31st July 2017 88,524 27,722 108,597 224,843
DEPRECIATION
At 1st August 2016 76,920 24,266 65,404 166,590
Charge for year 3,513 1,220 16,888 21,621
Eliminated on disposal (2,448 ) (1,426 ) - (3,874 )
At 31st July 2017 77,985 24,060 82,292 184,337
NET BOOK VALUE
At 31st July 2017 10,539 3,662 26,305 40,506
At 31st July 2016 4,770 4,777 43,193 52,740

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st August 2016
and 31st July 2017 67,552
DEPRECIATION
At 1st August 2016 24,360
Charge for year 16,888
At 31st July 2017 41,248
NET BOOK VALUE
At 31st July 2017 26,304
At 31st July 2016 43,192

EXD LIMITED (REGISTERED NUMBER: 03090399)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2017

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 64,893 27,541
Amounts owed by group undertakings 95,000 60,000
Other debtors 6,675 8,858
Deferred tax asset
Accelerated capital allowances 5,065 5,379
Prepayments and accrued income 4,288 5,072
175,921 106,850

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Hire purchase contracts 9,626 15,003
Trade creditors 64,381 42,368
Corporation tax payable 57,428 59,704
Social security and other taxes 30,585 17,380
Other creditors 1,637 3,024
Directors' current accounts 16,315 13,366
Accrued expenses 4,933 15,734
184,905 166,579

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Hire purchase contracts 8,693 17,461

8. ULTIMATE PARENT COMPANY

The ultimate parent company is The Exhibition Department Limited (company no. 05744803) registered in
England and Wales.

9. FIRST YEAR ADOPTION

This is the first year that the company has adopted the provisions of Section 1A "Small Entities" of Financial
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The
company has taken advantage of the exemption to not restate the comparatives for the finance leases in the
accounts. The interest element of the finance lease was previously calculated on a straight line basis but this is
now calculated at the effective rate of interest.