Viamaster International Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04816258 (England and Wales)

VIAMASTER INTERNATIONAL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A B Warrington

D K Warrington

M A Lunat

P D C Pedley

SECRETARY:

M A Lunat

REGISTERED OFFICE:

Europort Distribution Centre

Altofts Lane

Castleford

West Yorkshire

WF10 5PZ

REGISTERED NUMBER:

04816258 (England and Wales)

ACCOUNTANTS:

BPR Heaton

Chartered Accountants

27a Lidget Hill

Pudsey

Leeds

LS28 7LG

FIXED ASSETS

Tangible assets

4

65,530

65,751

CURRENT ASSETS

Debtors

5

1,586,064

1,164,392

Cash at bank

135,506

118,313

1,721,570

1,282,705

CREDITORS

Amounts falling due within one year

6

1,505,406

1,090,199

NET CURRENT ASSETS

216,164

192,506

TOTAL ASSETS LESS CURRENT LIABILITIES

281,694

258,257

CREDITORS

Amounts falling due after more than one year

7

-

11,409

NET ASSETS

281,694

246,848

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

231,694

196,848

SHAREHOLDERS' FUNDS

281,694

246,848

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 23 January 2018 and were signed on its behalf by:

P D C Pedley - Director

1.	STATUTORY INFORMATION

Viamaster International 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 (£).

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.

Transition to FRS102

The significant accounting policies applied in the preparation of the financial statements are set out

below. The company adopted FRS102 in the current year, the directors have considered all

restatements required for the transition to FRS102 and are of the opinion no such items exist.

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due.

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.

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the

contractual provisions of the instrument.

Financial assets and liabilities are initially measured at the transaction price, except for those financial

assets classified as at fair value through profit or loss.

Basic financial instruments

Basic financial instruments are those with relatively straight forward terms and would normally include

cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g trade debtors on normal

commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at

transaction price less impairment (if any) due to concerns over recoverability.

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.

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.

Finance arrangements

The company utilises a factoring arrangement in respect of trade debtors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2016 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2016

142,803

Additions

18,420

At 30 September 2017

161,223

DEPRECIATION

At 1 October 2016

77,052

Charge for year

18,641

At 30 September 2017

95,693

NET BOOK VALUE

At 30 September 2017

65,530

At 30 September 2016

65,751

Included in fixed assets are assets held under hire purchase agreements with a net book value of

£40,246 (2016: £53,662).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,292,169

857,847

Other debtors

293,895

306,545

1,586,064

1,164,392

Trade debtors amounting to £1,014,952 (2016: £574,035) have been factored.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

11,405

15,759

Trade creditors

1,101,956

829,733

Taxation and social security

237,417

161,934

Other creditors

154,628

82,773

1,505,406

1,090,199

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

11,409

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

11,405

27,168