Exserve Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04184241 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2017

for

Exserve Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J M Farnworth

D J Farnworth

REGISTERED OFFICE:

Harewood House

Union Road

Bolton

Lancashire

BL2 2HE

REGISTERED NUMBER:

04184241 (England and Wales)

AUDITORS:

Crossley & Davis

Chartered Accountants and Registered Auditor

52 Chorley New Road

Bolton

Greater Manchester

BL1 4AP

CURRENT ASSETS

Stocks

-

110,788

Debtors

4

-

28,007

Cash at bank and in hand

2

369

2

139,164

CREDITORS

Amounts falling due within one year

5

-

312,808

NET CURRENT ASSETS/(LIABILITIES)

2

(173,644

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2

(173,644

)

CAPITAL AND RESERVES

Called up share capital

12,500

12,500

Retained earnings

(12,498

)

(186,144

)

2

(173,644

)

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 26 September 2018 and were signed on its behalf by:

J M Farnworth - Director

1.	STATUTORY INFORMATION

Exserve 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.

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.

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.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

76,960

Disposals

(76,960

)

At 31 December 2017

-

DEPRECIATION

At 1 January 2017

76,960

Eliminated on disposal

(76,960

)

At 31 December 2017

-

NET BOOK VALUE

At 31 December 2017

-

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

22,472

Other debtors

-

5,535

-

28,007

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

131,722

Amounts owed to group undertakings

-

182,810

Taxation and social security

-

10,900

Other creditors

-

(12,624

)

-

312,808

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion on financial statements

Peter Shaw (Senior Statutory Auditor)

for and on behalf of Crossley & Davis

As we conducted the audit for Exserve Limited during 2016, we were unable to ascertain if adequate

accounting records had been kept, we were not present at the physical stock take and was unable to verify the

accuracy of the amounts owing to its creditors.Therefore our audit opinion on the financial statements for the

period ended 31 December 2016, was modified accordingly.

Our opinion on the current period's financial statements is also modified because of the possible effect of this

matter on the comparability of the current period's figures and the corresponding figures.