N & J Page Limited - Accounts to registrar (filleted) - small 18.2

N & J PAGE LIMITED

Unaudited Financial Statements

for the Year Ended 31st October 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N Page

REGISTERED OFFICE:

1 Abbots Quay

Monks Ferry

Birkenhead

Merseyside

CH41 5LH

REGISTERED NUMBER:

04849995 (England and Wales)

FIXED ASSETS

Intangible assets

4

15,000

17,500

Tangible assets

5

103,757

107,166

118,757

124,666

CURRENT ASSETS

Stocks

11,653

17,593

Debtors

6

2,000

2,000

13,653

19,593

CREDITORS

Amounts falling due within one year

7

133,916

143,523

NET CURRENT LIABILITIES

(120,263

)

(123,930

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,506

)

736

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(1,507

)

735

SHAREHOLDERS' FUNDS

(1,506

)

736

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 19th July 2018 and were signed by:

N Page - Director

1.	STATUTORY INFORMATION

N & J Page 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

land - nil and buildings - 2% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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 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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice

of not more than 24 hours.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are

measured initially at fair value, net of transaction costs.

Going concern

The director has considered the impact of the reduced trading when they have made their assessment of gong

concern. The director has a reasonable expectation that the company has adequate resources to continue in

operational existence for the foreseeable future, accordingly, they continue to adopt the going concern basis in

preparing the accounts.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st November 2016

and 31st October 2017

50,000

AMORTISATION

At 1st November 2016

32,500

Amortisation for year

2,500

At 31st October 2017

35,000

NET BOOK VALUE

At 31st October 2017

15,000

At 31st October 2016

17,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1st November 2016

and 31st October 2017

99,986

39,155

4,395

143,536

DEPRECIATION

At 1st November 2016

2,000

30,305

4,065

36,370

Charge for year

1,999

1,327

83

3,409

At 31st October 2017

3,999

31,632

4,148

39,779

NET BOOK VALUE

At 31st October 2017

95,987

7,523

247

103,757

At 31st October 2016

97,986

8,850

330

107,166

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

as restated

£

£

Trade debtors

2,000

2,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

as restated

£

£

Bank loans and overdrafts

10,823

13,386

Trade creditors

1,373

720

Taxation and social security

609

2,640

Other creditors

121,111

126,777

133,916

143,523

8.	RELATED PARTY DISCLOSURES

Other Creditors at 31st October 2017 includes £68,327 (2016 - £73,898) owed to N Page, a director of the

company.

9.	FIRST TIME ADOPTION OF FRS 102

Other than the points highlighted in the prior year adjustment note 6, the policies applied under the entity's

previous accounting framework are not materially different to FRS 102 - Section 1A and have not impacted on

profit or loss.