EML Retail Display Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06976294 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2017

FOR

EML RETAIL DISPLAY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Adams

L T W Alderman

A A Davies

SECRETARY:

Ms K Pearce

REGISTERED OFFICE:

Warner House

39 Jubilee Centre

Jubilee Road

Letchworth

Hertfordshire

SG6 1SP

REGISTERED NUMBER:

06976294 (England and Wales)

ACCOUNTANTS:

Barker Wilkinson Limited

108 High Street

Stevenage

Hertfordshire

SG1 3DW

FIXED ASSETS

Tangible assets

4

8,898

15,384

CURRENT ASSETS

Stocks

338,989

374,644

Debtors

5

115,720

229,763

Cash at bank

94,153

67,956

548,862

672,363

CREDITORS

Amounts falling due within one year

6

230,667

429,203

NET CURRENT ASSETS

318,195

243,160

TOTAL ASSETS LESS CURRENT LIABILITIES

327,093

258,544

PROVISIONS FOR LIABILITIES

66

1,176

NET ASSETS

327,027

257,368

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

326,827

257,168

327,027

257,368

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 16th February 2018 and were signed on its behalf by:

L T W Alderman - Director

1.	STATUTORY INFORMATION

EML Retail Display 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.

The directors have assessed various factors and risks affecting the company and its ability in these difficult

economic times to continue to trade as a going concern. The directors have not identified any material

uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets

and liabilities as at the balance sheet date and therefore the financial statements for the year ended 31st July 2017

have been prepared using the going concern basis of accounting.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates

and assumptions about the carrying values of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying assumptions are based on historical experience and other factors that are

considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised if the revision affects only that period, or in the

period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences have been fully amortised in the current year.

Computer software has been fully amortised in the current year.

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

Office equipment

-

33% on cost

Motor vehicles

-

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.

Financial instruments

The directors consider all financial instruments to be basic financial instruments in accordance with paragraph 11

of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and

trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.

Trade and other receivables and payables

Trade and other receivables and payables are measured at amortised cost which approximates to fair value given

the short term nature of these assets and liabilities.

Trade receivables are valued at original invoice amount less an allowance for potentially un-collectable debts.

Provision is made where there is objective evidence to suggest that the company will not be in a position to

collect receivables as they fall due. Bad and Doubtful debts are written off in the profit and loss account on

identification.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances held for the purposes of meeting short-term cash

commitments.

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.

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 5 .

4.	TANGIBLE FIXED ASSETS

Plant and

Office

Motor

machinery

equipment

vehicles

Totals

£

£

£

£

COST

At 1st August 2016

17,730

56,575

6,750

81,055

Additions

1,405

2,741

-

4,146

At 31st July 2017

19,135

59,316

6,750

85,201

DEPRECIATION

At 1st August 2016

15,396

47,041

3,234

65,671

Charge for year

1,064

7,880

1,688

10,632

At 31st July 2017

16,460

54,921

4,922

76,303

NET BOOK VALUE

At 31st July 2017

2,675

4,395

1,828

8,898

At 31st July 2016

2,334

9,534

3,516

15,384

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

95,050

209,313

Directors' current accounts

1,013

1,013

Prepayments

19,657

19,437

115,720

229,763

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

72,430

111,336

Tax

22,593

5,751

Social security and other taxes

2,912

2,176

VAT

12,731

443

Other creditors

113,579

304,132

Directors' current accounts

2,411

646

Accruals and deferred income

4,011

4,719

230,667

429,203

7.	FIRST YEAR ADOPTION

The company adopted Financial Reporting Standard 102 (section 1A) with effect from 1st August 2016. There

are no material impacts on how the prior financial period's transactions and balances were originally recorded

under the preceding standard adopted, which was the Financial Reporting Standard for Smaller Entities (effective

January 2015), and therefore the comparative figures within these financial statements have not been required to

be re-stated.