Tablegard Limited Company Accounts

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COMPANY REGISTRATION NUMBER: 05283519

Tablegard Limited

Filleted Unaudited Financial Statements

30 November 2017

Tablegard Limited

Financial Statements

Year ended 30th November 2017

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Tablegard Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Tablegard Limited

Year ended 30th November 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tablegard Limited for the year ended 30th November 2017, which comprise the 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 Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the Board of Directors of Tablegard Limited, as a body, in accordance with the terms of our engagement letter dated 9th April 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Tablegard Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tablegard Limited and its Board of Directors, as a body, for our work or for this report.

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

BMK ACCOUNTING LIMITED Chartered Accountants

43 Lockview Road Stranmillis Belfast BT9 5FJ

27 April 2018

Tablegard Limited

Statement of Financial Position

30 November 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		4,224	2,240

Current assets

Stocks		142,790	151,678
Debtors	6	153,938	142,527
Cash at bank and in hand		108,675	77,318
		---------	---------
		405,403	371,523

Creditors: amounts falling due within one year	7	127,968		160,809
		---------		---------
Net current assets			277,435	210,714
			---------	---------
Total assets less current liabilities			281,659	212,954
			---------	---------
Net assets			281,659	212,954
			---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	281,657	212,952
	---------	---------
Shareholders funds	281,659	212,954
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30th November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Tablegard Limited

Statement of Financial Position (continued)

30 November 2017

These financial statements were approved by the board of directors and authorised for issue on 25 April 2018 , and are signed on behalf of the board by:

Mr R Kelly

Director

Company registration number: 05283519

Tablegard Limited

Notes to the Financial Statements

Year ended 30th November 2017

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit 6 Spring Mill, Moor Street, Heywood, OL10 3DD, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1st December 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.

Revenue recognition

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities. The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Motor vehicles	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2016: 3 ).

5. Tangible assets

Plant and machinery	Motor vehicles	Total
£	£	£

Cost
At 1st December 2016	4,920	2,800	7,720
Additions	–	5,280	5,280
Disposals	–	( 2,800)	( 2,800)
	-------	-------	--------
At 30th November 2017	4,920	5,280	10,200
	-------	-------	--------
Depreciation
At 1st December 2016	4,920	560	5,480
Charge for the year	–	1,056	1,056
Disposals	–	( 560)	( 560)
	-------	-------	--------
At 30th November 2017	4,920	1,056	5,976
	-------	-------	--------
Carrying amount
At 30th November 2017	–	4,224	4,224
	-------	-------	--------
At 30th November 2016	–	2,240	2,240
	-------	-------	--------

6. Debtors

	2017	2016
	£	£

Trade debtors	116,825	128,114
Amounts owed by group undertakings and undertakings in which the company has a participating interest	27,478	1,139
Other debtors	9,635	13,274
	---------	---------
	153,938	142,527
	---------	---------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£

Trade creditors	86,160	140,826
Amounts owed to group undertakings	–	2,910
Corporation tax	15,924	11,848
Social security and other taxes	19,256	2,201
Other creditors	6,628	3,024
	---------	---------
	127,968	160,809
	---------	---------

8. Financial instruments at fair value

The company has no financial instruments.

9. Related party transactions

The company has taken advantage of the exemption under the terms of FRS 102 section 1A, from disclosing related party transactions with entities that are wholly owned subsidiaries of the Talbot Textile & Upholstery Supply Co. Limited group of companies. The following companies are considered related parties for the purposes of Financial Reporting Standard 102: Company Relationship The Cotton Print Factory Shop Limited Group Member Talbot Textiles and Upholstery Supply Company Limited Parent company

10. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1st December 2015.

No transitional adjustments were required in equity or profit or loss for the year.