21st Century Stamps Ltd - Limited company accounts 11.7

REGISTERED NUMBER: 01994853 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 October 2014

for

21ST CENTURY STAMPS LTD

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

Mrs C L Grant

A M Grant Esq

Mrs S J Brunsdon

SECRETARY:

E Friedman Esq.

REGISTERED OFFICE:

Prospect House

50 Leigh Road

Eastleigh

Hampshire

SO50 9DT

REGISTERED NUMBER:

01994853 (England and Wales)

ACCOUNTANTS:

Walji & Co Private Clients Limited

Prospect House

50 Leigh Road

Eastleigh

Hampshire

SO50 9DT

The directors present their report with the financial statements of the company for the year ended 31 October 2014.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a management and holding

company.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 November 2013 to the

date of this report.

Mrs C L Grant

A M Grant Esq

Mrs S J Brunsdon

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

E Friedman Esq. - Secretary

23 July 2015

TURNOVER

36,000

30,000

OPERATING PROFIT

2

36,000

30,000

Income from fixed asset investments

42,000

40,000

Interest receivable and similar income

15

32

42,015

40,032

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

78,015

70,032

Tax on profit on ordinary activities

3

7,203

8,897

PROFIT FOR THE FINANCIAL YEAR

70,812

61,135

FIXED ASSETS

Investments

5

100

100

CURRENT ASSETS

Debtors

6

10,000

-

Cash at bank

2,562

16,554

12,562

16,554

CREDITORS

Amounts falling due within one year

7

7,203

6,007

NET CURRENT ASSETS

5,359

10,547

TOTAL ASSETS LESS CURRENT LIABILITIES

5,459

10,647

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Profit and loss account

9

4,459

9,647

SHAREHOLDERS' FUNDS

5,459

10,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 23 July 2015 and were signed on its behalf by:

A M Grant Esq - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31.10.14

31.10.13

£

£

Directors' remuneration

-

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

31.10.14

31.10.13

£

£

Current tax:

UK corporation tax

7,203

6,006

Exceptional items

-

2,891

Tax on profit on ordinary activities

7,203

8,897

4.

DIVIDENDS

31.10.14

31.10.13

£

£

Ordinary shares of £1 each

Interim

76,000

76,000

5.	FIXED ASSET INVESTMENTS

Unlisted

investment

£

COST

At 1 November 2013

and 31 October 2014

100

NET BOOK VALUE

At 31 October 2014

100

At 31 October 2013

100

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Rushstamps (Retail) Limited

Nature of business: Philatelic dealers

%

Class of shares:

holding

Ordinary

100.00

31.10.14

31.10.13

£

£

Aggregate capital and reserves

99,915

100,015

(Loss)/profit for the year

(22,331

)

87,865

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.14

31.10.13

£

£

Other debtors

10,000

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.14

31.10.13

£

£

Trade creditors

-

1

Tax

7,203

6,006

7,203

6,007

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

2

Ordinary

£1

1,000

1,000

9.

RESERVES

Profit

and loss

account

£

At 1 November 2013

9,647

Profit for the year

70,812

Dividends

(76,000

)

At 31 October 2014

4,459

10.	RELATED PARTY DISCLOSURES

Rushstamps (Retail) Limited

100% wholly owned subsidiary

Provided consultancy services during the year amounting to £36,000 (2013 - £30,000) to

Rushstamps (Retail) Limited.