Ernst & Ernst (Sales) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04581874 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

ERNST & ERNST (SALES) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Ernst

Mrs A C Ernst

S J Ernst

Miss P J Ernst

SECRETARY:

Mrs A C Ernst

REGISTERED OFFICE:

Unit 3, Shelley Farm

Shelley Lane

Ower

Romsey

Hampshire

SO51 6AS

REGISTERED NUMBER:

04581874 (England and Wales)

ACCOUNTANTS:

Buckleys

Chartered Accountants

Unit 3, Shelley Farm

Shelley Lane

Ower

Romsey

Hampshire

SO51 6AS

FIXED ASSETS

Tangible assets

4

-

938

CURRENT ASSETS

Debtors

5

5,370

182,809

Cash at bank

-

58,388

5,370

241,197

CREDITORS

Amounts falling due within one year

6

736

201,218

NET CURRENT ASSETS

4,634

39,979

TOTAL ASSETS LESS CURRENT LIABILITIES

4,634

40,917

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

4,434

40,717

SHAREHOLDERS' FUNDS

4,634

40,917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 19 September 2017 and were signed on its behalf by:

J Ernst - Director

1.	STATUTORY INFORMATION

Ernst & Ernst (Sales) 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.

Fixtures and fittings

-

15% 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 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 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2016

4,585

Disposals

(4,585

)

At 31 May 2017

-

DEPRECIATION

At 1 June 2016

3,647

Eliminated on disposal

(3,647

)

At 31 May 2017

-

NET BOOK VALUE

At 31 May 2017

-

At 31 May 2016

938

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Other debtors

4,565

182,496

VAT

805

313

5,370

182,809

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Corporation tax

(764

)

11,988

Directors' current accounts

-

187,730

Accrued expenses

1,500

1,500

736

201,218

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31 May 2017 and 31 May 2016:

31.5.17

31.5.16

£

£

J Ernst and Mrs A C Ernst

Balance outstanding at start of year

(187,730

)

76,560

Amounts advanced

187,730

79,189

Amounts repaid

-

(343,479

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(187,730

)

The company was under the control of Mr J. Ernst throughout the current and previous

year. Mr Ernst is the Managing director and majority shareholder.