| Creative Instore Solutions (Europe) Limited |
| Registered number: |
06087263 |
| Balance Sheet |
| as at 30 June 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
- |
|
|
126 |
|
| Current assets |
| Stocks |
|
|
3,417 |
|
|
7,640 |
| Debtors |
3 |
|
498,136 |
|
|
598,818 |
| Cash at bank and in hand |
|
|
86,508 |
|
|
63,462 |
|
|
|
588,061 |
|
|
669,920 |
|
| Creditors: amounts falling due within one year |
4 |
|
(29,470) |
|
|
(37,849) |
|
| Net current assets |
|
|
|
558,591 |
|
|
632,071 |
|
| Net assets |
|
|
|
558,591 |
|
|
632,197 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
558,491 |
|
|
632,097 |
|
| Shareholder's funds |
|
|
|
558,591 |
|
|
632,197 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| S Howell |
| Director |
| Approved by the board on 26 March 2018 |
|
| Creative Instore Solutions (Europe) Limited |
| Notes to the Accounts |
| for the year ended 30 June 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services which is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
25% straight line |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 July 2016 |
21,686 |
|
At 30 June 2017 |
21,686 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2016 |
21,560 |
|
Charge for the year |
126 |
|
At 30 June 2017 |
21,686 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2017 |
- |
|
At 30 June 2016 |
126 |
|
|
| 3 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
401,018 |
|
170,322 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
94,523 |
|
425,470 |
|
Prepayments |
|
|
|
|
- |
|
797 |
|
Deposits |
|
|
|
|
2,310 |
|
1,950 |
|
Other debtors |
285 |
|
279 |
|
|
|
|
|
|
498,136 |
|
598,818 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans and overdrafts |
249 |
|
- |
|
Trade creditors |
5,805 |
|
12,611 |
|
Taxation and social security costs |
10,672 |
|
4,622 |
|
Pension liability |
8,756 |
|
18,996 |
|
Accruals |
3,988 |
|
1,620 |
|
|
|
|
|
|
29,470 |
|
37,849 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Related party transactions |
|
|
In 2017, included in debtors are amounts owed by Creative Instore Solutions Pty Ltd of £94,523 (2016: £425,470). These amounts are shown within "Amounts owed by group undertakings and undertakings in which the company has a participating interest".
Included in trade debtors is £165,125 (2016: £160,510) owed from Creative Instore Solutions North America Inc.
During the year the parent company, Creative Instore Solutions Pty Ltd, invoiced £nil (2016: £27,335) in management fees.
Purchases includes £329,126 (2016: £301,042) which are invoiced from Creative Instore Solutions Pty Ltd
During the year the company invoiced the parent company £nil (2016 - £137,690) amounts included in sales, being part of the turnover as at 30 June 2017.
These transactions were carried out on a commercial arms length basis. |
|
|
| 6 |
Controlling party |
|
|
The company is controlled by its Australian parent company,Creative Instore Solutions Pty Ltd, who holds 100% of the share capital. |
|
|
| 7 |
Other information |
|
|
Creative Instore Solutions (Europe) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
18 Deane House Studios |
|
Greenwood Place |
|
London |
|
NW5 1LB |
