Early Years Direct Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05757808

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

EARLY YEARS DIRECT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Harris

J R Bennett

SECRETARY:

L M Jones

REGISTERED OFFICE:

Smith House

George Street

Nailsworth

Stroud

Gloucestershire

GL6 0AG

REGISTERED NUMBER:

05757808

ACCOUNTANTS:

Shiner Mitchell Fisher & Co Ltd

Smith House

George Street

Nailsworth

Stroud

Gloucestershire

GL6 0AG

FIXED ASSETS

Tangible assets

4

9,154

5,817

CURRENT ASSETS

Stocks

171,432

111,764

Debtors

5

87,664

51,158

Cash at bank and in hand

12,224

569

271,320

163,491

CREDITORS

Amounts falling due within one year

6

333,384

236,155

NET CURRENT LIABILITIES

(62,064

)

(72,664

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(52,910

)

(66,847

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(53,010

)

(66,947

)

SHAREHOLDERS' FUNDS

(52,910

)

(66,847

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27 April 2018 and were signed on its behalf by:

P Harris - Director

1.	STATUTORY INFORMATION

Early Years Direct Limited is a private company, limited by shares , registered in Not specified/Other. 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 company meets its day to day working capital requirements through a bank overdraft facility and unsecured

loans from its directors. The loans are to be repaid only when the company is able to do so without prejudice to the

other creditors. Consequently the directors consider that it is appropriate to prepare the financial statements on the

going concern basis. The financial statements do not include any adjustments that would result from a withdrawal

of these facilities.

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 etc

-

33% on cost and 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

19,642

Additions

6,250

At 31 December 2017

25,892

DEPRECIATION

At 1 January 2017

13,825

Charge for year

2,913

At 31 December 2017

16,738

NET BOOK VALUE

At 31 December 2017

9,154

At 31 December 2016

5,817

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

79,125

40,178

Other debtors

8,539

10,980

87,664

51,158

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

65,733

46,180

Trade creditors

177,872

78,130

Taxation and social security

2,777

3,985

Other creditors

87,002

107,860

333,384

236,155

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY