Elite Safety Systems Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07623208 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Elite Safety Systems Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

DIRECTOR:

R H Marshall

REGISTERED OFFICE:

61 Stanley Road

Bootle

Merseyside

L20 7BZ

REGISTERED NUMBER:

07623208 (England and Wales)

ACCOUNTANTS:

Kinsella Clarke Limited

61 Stanley Road

Bootle

Merseyside

L20 7BZ

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 Statement of Financial Position. 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 Elite Safety Systems Limited for the year ended 31 May 2017 which comprise the Statement of

Income and Retained Earnings, Statement of Financial Position 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 Elite Safety Systems Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elite Safety Systems Limited and state those matters that we have agreed to state to the director of Elite Safety Systems 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 Elite Safety Systems Limited and its director for our work or for this report.

It is your duty to ensure that Elite Safety Systems 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 Elite Safety Systems Limited. You consider that Elite Safety Systems 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 Elite Safety Systems 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.

Kinsella Clarke Limited

61 Stanley Road

Bootle

Merseyside

L20 7BZ

28 February 2018

FIXED ASSETS

Tangible assets

4

870

1,160

CURRENT ASSETS

Stocks

57,102

31,998

Debtors

5

201,622

133,648

Cash at bank and in hand

7,644

11,839

266,368

177,485

CREDITORS

Amounts falling due within one year

6

455,354

407,738

NET CURRENT LIABILITIES

(188,986

)

(230,253

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(188,116

)

(229,093

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(188,117

)

(229,094

)

SHAREHOLDERS' FUNDS

(188,116

)

(229,093

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 27 February 2018 and were signed by:

R H Marshall - Director

1.	STATUTORY INFORMATION

Elite Safety Systems 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.

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 etc

-

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.

Hire purchase and leasing commitments

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 12 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

and 31 May 2017

3,253

DEPRECIATION

At 1 June 2016

2,093

Charge for year

290

At 31 May 2017

2,383

NET BOOK VALUE

At 31 May 2017

870

At 31 May 2016

1,160

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

188,312

120,338

Other debtors

13,310

13,310

201,622

133,648

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade creditors

186,145

139,948

Taxation and social security

35,683

33,480

Other creditors

233,526

234,310

455,354

407,738

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2017 and

31 May 2016:

31.5.17

31.5.16

£

£

R H Marshall

Balance outstanding at start of year

10,600

9,800

Amounts advanced

-

800

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,600

10,600

8.

FRS 102

The company has adopted FRS 102 for the first time in these financial statements for the year ended 31 May

2017. The change has not resulted in restatement of the comparative figures.