Monacor UK Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03050750 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

Monacor UK Limited

Page

Company Information

1

Directors' Responsibilities Statement

2

Independent Chartered Accountants' Review Report

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

N W Clayton

M Schilling

M Willroth

REGISTERED OFFICE:

Unit 8

Plover Close

Interchange Park

Newport Pagnell

Buckinghamshire

MK16 9PS

REGISTERED NUMBER:

03050750 (England and Wales)

ACCOUNTANTS:

Connolly Jones Audit LLP

58a High Street

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1AQ

The following reproduces the text of the report prepared for the directors and members 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 Directors are not required to be filed with the Registrar of Companies.

We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to:

-	ensure that the company has kept proper accounting records;

-	prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 May 2017 and of its loss for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.

ON BEHALF OF THE BOARD:

N W Clayton - Director

4 September 2017

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Monacor UK Limited for the year ended 31 May 2017, which comprise the Income Statement, Balance Sheet and the related notes 1 to 8. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed.

Directors' responsibility for the financial statements

As explained more fully in the Directors' Responsibilities Statement set out on page two, the directors are responsible for

the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review

in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review

historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on

historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have

performed additional procedures to those required under a compilation engagement. These primarily consist of making

enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the

evidence obtained. The procedures performed in a review are substantially less than those performed in an audit

conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an

audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

-	so as to give a true and fair view of the state of the company's affairs as at 31 May 2017 and of its loss for the year then ended;

-	in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	in accordance with the requirements of the Companies Act 2006.

Connolly Jones Audit LLP

58a High Street

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1AQ

Date: .............................................

FIXED ASSETS

Tangible assets

4

20,184

20,877

CURRENT ASSETS

Stocks

5

255,400

283,537

Debtors

6

331,752

392,839

Cash at bank

55,747

23,742

642,899

700,118

CREDITORS

Amounts falling due within one year

7

619,986

484,375

NET CURRENT ASSETS

22,913

215,743

TOTAL ASSETS LESS CURRENT LIABILITIES

43,097

236,620

CREDITORS

Amounts falling due after more than one year

8

144,626

131,015

NET (LIABILITIES)/ASSETS

(101,529

)

105,605

CAPITAL AND RESERVES

Called up share capital

151,000

151,000

Retained earnings

(252,529

)

(45,395

)

SHAREHOLDERS' FUNDS

(101,529

)

105,605

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 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 4 September 2017 and were signed on its behalf by:

N W Clayton - Director

1.	STATUTORY INFORMATION

Monacor UK 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

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.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33.33% 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.

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

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits over the period of the lease.

Assets held under finance lease contracts are capitalised in the balance sheet and are depreciated in line with the

company's depreciation policy. The finance costs relating to the obligation are charged to the profit and loss

account on a systematic basis over the life of the relevant contract.

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.

Going concern

These financial statements are prepared on the going concern basis because the holding company has undertaken

to provide continuing financial support so that the Company is able to pay its debts as and when

they fall due

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 June 2016

48,445

44,047

73,869

166,361

Additions

-

7,486

2,104

9,590

Disposals

-

(5,144

)

-

(5,144

)

At 31 May 2017

48,445

46,389

75,973

170,807

DEPRECIATION

At 1 June 2016

45,374

29,144

70,966

145,484

Charge for year

2,018

5,739

2,526

10,283

Eliminated on disposal

-

(5,144

)

-

(5,144

)

At 31 May 2017

47,392

29,739

73,492

150,623

NET BOOK VALUE

At 31 May 2017

1,053

16,650

2,481

20,184

At 31 May 2016

3,071

14,903

2,903

20,877

5.

STOCKS

2017

2016

£

£

Stocks

255,400

283,537

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

293,527

341,733

Prepayments and accrued income

38,225

51,106

331,752

392,839

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

3,162

-

Trade creditors

37,000

59,224

Amounts owed to group undertakings

509,274

341,758

Social security and other taxes

3,938

4,699

VAT

59,527

64,053

Other creditors

206

-

Accruals and deferred income

6,879

14,641

619,986

484,375

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

144,626

131,015

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Monacor International GmbH & Co. KG.