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

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


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REGISTERED NUMBER: 02691770 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2017

for

NAILCO LIMITED

NAILCO LIMITED (REGISTERED NUMBER: 02691770)

Contents of the Financial Statements
for the year ended 31 December 2017










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

NAILCO LIMITED

Company Information
for the year ended 31 December 2017







Directors: J Crowch
Mrs K E Sevil





Secretary: Mrs K E Sevil





Registered office: Suite C
Hilton Bank
74 Oldfield Road
Hampton
Middlesex
TW12 2HR





Registered number: 02691770 (England and Wales)





Accountants: Haines Watts
Aissela
46 High Street
Esher
Surrey
KT10 9QY

NAILCO LIMITED (REGISTERED NUMBER: 02691770)

Balance Sheet
31 December 2017

2017 2016
Notes £ £ £ £
Fixed assets
Tangible assets 4 827 1,683

Current assets
Stocks 123,604 176,880
Debtors 5 117,319 223,081
Cash at bank and in hand 540,079 533,655
781,002 933,616
Creditors
Amounts falling due within one year 6 55,927 60,272
Net current assets 725,075 873,344
Total assets less current liabilities 725,902 875,027

Capital and reserves
Called up share capital 7 7,700 10,000
Capital redemption reserve 8 3,300 1,000
Retained earnings 8 714,902 864,027
Shareholders' funds 725,902 875,027

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 28 March 2018 and were signed on its behalf by:





J Crowch - Director


NAILCO LIMITED (REGISTERED NUMBER: 02691770)

Notes to the Financial Statements
for the year ended 31 December 2017


1. Statutory information

Nailco 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 - 25% on cost
Computer equipment - 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 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.

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.

3. Employees and directors

The average number of employees during the year was 3 (2016 - 3 ) .

4. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£ £ £
Cost
At 1 January 2017
and 31 December 2017 3,011 27,750 30,761
Depreciation
At 1 January 2017 3,011 26,067 29,078
Charge for year - 856 856
At 31 December 2017 3,011 26,923 29,934
Net book value
At 31 December 2017 - 827 827
At 31 December 2016 - 1,683 1,683

NAILCO LIMITED (REGISTERED NUMBER: 02691770)

Notes to the Financial Statements - continued
for the year ended 31 December 2017


5. Debtors: amounts falling due within one year
2017 2016
£ £
Trade debtors 107,641 145,763
Other debtors 1,800 61,390
Prepayments 7,878 15,928
117,319 223,081

6. Creditors: amounts falling due within one year
2017 2016
£ £
Trade creditors 15,968 6,811
Tax 13,776 9,337
Social security and other taxes 945 1,074
VAT 5,489 3,967
Other creditors - 21,799
Directors' current accounts 5,000 7,000
Accrued expenses 14,749 10,284
55,927 60,272

7. Called up share capital



Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £ £
6,700 Ordinary Shares £1 6,700 9,000
1,000 Ordinary B Shares £1 1,000 1,000
7,700 10,000

8. Reserves
Capital
Retained redemption
earnings reserve Totals
£ £ £

At 1 January 2017 864,027 1,000 865,027
Profit for the year 55,875 55,875
Dividends (5,000 ) (5,000 )
Purchase of own shares (200,000 ) 2,300 (197,700 )
At 31 December 2017 714,902 3,300 718,202

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Nailco Limited


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 Statement of Comprehensive Income and certain other
primary statements and the Report of the Directors 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 Nailco Limited for the year ended 31 December 2017 which comprise the Statement of Income
and Retained Earnings, Balance Sheet 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 Board of Directors of Nailco Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nailco Limited and state those matters that we have agreed to state to the Board of Directors of Nailco Limited, as a body, 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 Nailco Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nailco 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 Nailco Limited. You consider that Nailco 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 Nailco 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.






Haines Watts
Aissela
46 High Street
Esher
Surrey
KT10 9QY


28 March 2018