Custom World Dorset Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07278411 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

CUSTOM WORLD DORSET LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S D Hire

F Hyka

REGISTERED OFFICE:

38 Cobham Road

Ferndown Industrial Estate

Wimborne

Dorset

BH21 7NP

REGISTERED NUMBER:

07278411 (England and Wales)

ACCOUNTANTS:

Underwood Barron LLP

Monks Brook House

13 - 17 Hursley Road

Chandlers Ford

Eastleigh

Hampshire

SO53 2FW

FIXED ASSETS

Intangible assets

4

69,724

94,724

Tangible assets

5

72,997

95,660

142,721

190,384

CURRENT ASSETS

Stocks

70,120

57,494

Debtors

6

124,950

110,186

Cash at bank and in hand

64,600

74,833

259,670

242,513

CREDITORS

Amounts falling due within one year

7

351,609

414,493

NET CURRENT LIABILITIES

(91,939

)

(171,980

)

TOTAL ASSETS LESS CURRENT LIABILITIES

50,782

18,404

PROVISIONS FOR LIABILITIES

9,763

-

NET ASSETS

41,019

18,404

CAPITAL AND RESERVES

Called up share capital

120

120

Share premium

79,980

79,980

Retained earnings

(39,081

)

(61,696

)

SHAREHOLDERS' FUNDS

41,019

18,404

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 1 August 2018 and were signed on its behalf by:

S D Hire - Director

F Hyka - Director

1.	STATUTORY INFORMATION

Custom World Dorset 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 represents the amount derived from the ordinary activities of the company, excluding value added tax.

Goodwill

Goodwill is being amortised evenly over its estimated useful life of 10 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost, 20% on reducing balance, 15% on reducing balance and 15% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under

hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated

over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

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 26 (2016 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

250,000

AMORTISATION

At 1 January 2017

155,276

Charge for year

25,000

At 31 December 2017

180,276

NET BOOK VALUE

At 31 December 2017

69,724

At 31 December 2016

94,724

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

211,130

Disposals

(18,250

)

At 31 December 2017

192,880

DEPRECIATION

At 1 January 2017

115,470

Charge for year

16,312

Eliminated on disposal

(11,899

)

At 31 December 2017

119,883

NET BOOK VALUE

At 31 December 2017

72,997

At 31 December 2016

95,660

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2017

51,884

Transfer to ownership

(51,884

)

At 31 December 2017

-

DEPRECIATION

At 1 January 2017

21,536

Charge for year

1,403

Transfer to ownership

(22,939

)

At 31 December 2017

-

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

30,348

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

21,733

15,154

Other debtors

103,217

95,032

124,950

110,186

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

-

14,813

Hire purchase contracts

-

25,623

Trade creditors

100,342

77,843

Taxation and social security

232,787

293,714

Other creditors

18,480

2,500

351,609

414,493

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Bank loans

-

14,813