Out + About Showroom Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07336877 (England and Wales)

OUT + ABOUT SHOWROOM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms S K Goodfellow

Mr P Lawler

Dr R C Goodfellow

Ms S Goodfellow

SECRETARY:

Mrs J A Goodfellow

REGISTERED OFFICE:

15 High Street

Brackley

Northamptonshire

NN13 7DH

REGISTERED NUMBER:

07336877 (England and Wales)

ACCOUNTANTS:

Blencowes

15 High Street

Brackley

Northamptonshire

NN13 7DH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,235

2,768

Investments

6

200,000

200,000

201,235

202,768

CURRENT ASSETS

Debtors

7

6,292

33,933

Cash at bank and in hand

89,029

73,872

95,321

107,805

CREDITORS

Amounts falling due within one year

8

24,175

32,512

NET CURRENT ASSETS

71,146

75,293

TOTAL ASSETS LESS CURRENT LIABILITIES

272,381

278,061

PROVISIONS FOR LIABILITIES

236

1,194

NET ASSETS

272,145

276,867

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

272,045

276,767

SHAREHOLDERS' FUNDS

272,145

276,867

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 26 October 2018 and were signed on its behalf by:

Mr P Lawler - Director

1.	STATUTORY INFORMATION

Out + About Showroom 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 as modified by the revaluation of certain assets.

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 2010, is being amortised

over its estimated useful life of five years in line with FRS 102.

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.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

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 taxation

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

150,000

AMORTISATION

At 1 April 2017

and 31 March 2018

150,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2017

1,670

4,131

5,801

Additions

175

204

379

Disposals

(655

)

(3,069

)

(3,724

)

At 31 March 2018

1,190

1,266

2,456

DEPRECIATION

At 1 April 2017

476

2,557

3,033

Charge for year

82

166

248

Eliminated on disposal

(192

)

(1,868

)

(2,060

)

At 31 March 2018

366

855

1,221

NET BOOK VALUE

At 31 March 2018

824

411

1,235

At 31 March 2017

1,194

1,574

2,768

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2017

and 31 March 2018

200,000

NET BOOK VALUE

At 31 March 2018

200,000

At 31 March 2017

200,000

The investment bond was acquired on 27 January 2016 and there has been no material change to the market

valuation of the bond as at the balance sheet date.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

-

22,705

Directors' current accounts

6,292

-

Prepayments

-

11,228

6,292

33,933

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Preference shares

1

1

Trade creditors

1,008

1,255

Tax

16,065

7,191

VAT

4,388

10,766

Directors' current accounts

-

10,186

Accrued expenses

2,713

3,113

24,175

32,512

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2018 and

31 March 2017:

2018

2017

£

£

Mr P Lawler and Ms S K Goodfellow

Balance outstanding at start of year

-

-

Amounts advanced

6,292

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,292

-

10.	RELATED PARTY DISCLOSURES

During the year the company paid rent to the directors, Ms S K Goodfellow and Mr P Lawler, amounting to

£8,400 (2016 - £7,200). There was no outstanding liability at the balance sheet date.

The balance owing to Out+ About Showroom Ltd as at 31 March 2018 by the directors was £6,292.25.

The loan balance was fully repaid by the directors on 24 September 2018.

The balance owing to the directors as at 31 March 2017 amounted to £10,185.63.

11.	ULTIMATE CONTROLLING PARTY