Vinyl Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06753438 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2017

FOR

VINYL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

K Burgess

Mrs H M Burgess

REGISTERED OFFICE:

Unit 40

Bishopton Drive

MACCLESFIELD

Cheshire

SK11 8TR

REGISTERED NUMBER:

06753438 (England and Wales)

ACCOUNTANTS:

Chandley Robinson Limited

Chartered Accountants

8A Manor Close

Cheadle Hulme

CHEADLE

Cheshire

SK8 7DJ

FIXED ASSETS

Tangible assets

4

631

902

CURRENT ASSETS

Stocks

2,167

12,916

Debtors

5

48,584

38,506

Cash at bank and in hand

10,159

4,932

60,910

56,354

CREDITORS

Amounts falling due within one year

6

61,637

54,376

NET CURRENT (LIABILITIES)/ASSETS

(727

)

1,978

TOTAL ASSETS LESS CURRENT
LIABILITIES

(96

)

2,880

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(196

)

2,780

SHAREHOLDERS' FUNDS

(96

)

2,880

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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 15th June 2018 and were signed on its behalf by:

K Burgess - Director

1.	STATUTORY INFORMATION

Vinyl 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

-

20% 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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

COST

At 1st December 2016

and 30th November 2017

1,050

500

1,550

DEPRECIATION

At 1st December 2016

210

438

648

Charge for year

210

61

271

At 30th November 2017

420

499

919

NET BOOK VALUE

At 30th November 2017

630

1

631

At 30th November 2016

840

62

902

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

40,273

33,996

Other debtors

8,311

4,510

48,584

38,506

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade creditors

14,488

22,914

Taxation and social security

231

1,162

Other creditors

46,918

30,300

61,637

54,376

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the director's current account was £44,846 (2016- £28,060) in credit.

8.	RELATED PARTY DISCLOSURES

During the year the director charge the company £520 for the use of his home as an office.

During the year the director received benefits in kind of £360.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is Mr K Burgess who is a director and sole shareholder.

Vinyl Limited - Accounts to registrar (filleted) - small 18.1

Vinyl Limited - Accounts to registrar (filleted) - small 18.1