ND PLASTICS DIRECT LIMITED

ND PLASTICS DIRECT LIMITED - Company Information

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Company Registration Number:
08413482 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2017

Period of accounts

Start date: 01 April 2016

End date: 31 March 2017

Contents of the Financial Statements

for the Period Ended 31 March 2017


Balance sheet
Notes

Balance sheet

As at 31 March 2017

	Notes	2017	2016
		£	£
Fixed assets
Tangible assets:	3	380,577	342,051
Total fixed assets:		380,577	342,051
Current assets
Debtors:		97,406	50,031
Cash at bank and in hand:		35,438	162,277
Total current assets:		132,844	212,308
Creditors: amounts falling due within one year:	4	(221,897)	(270,061)
Net current assets (liabilities):		(89,053)	(57,753)
Total assets less current liabilities:		291,524	284,298
Creditors: amounts falling due after more than one year:	5	(96,470)	(102,044)
Total net assets (liabilities):		195,054	182,254
Capital and reserves
Called up share capital:		10,000	10,000
Profit and loss account:		185,054	172,254
Shareholders funds:		195,054	182,254

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 March 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 15 December 2017
and signed on behalf of the board by:

Name: Neill Dransfield
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax

Tangible fixed assets and depreciation policy

Tangible assets are initially measured at cost and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount. Any tangible assets carried at a revalued amount are recorded at the fair value at the date of the revaluation and the increases or decreases as a result of a revaluation will be recognised in other comprehensive income and accumulated capital and reserves.Depreciation is calculated so as to write off the cost of an asset, less the estimated residual value, over the useful economic life of that asset as follows:Office and other equipment 20% straight lineRental caravan 20% straight lineNo depreciation is provided in respect of Freehold Investment Properties but a review for indicators of impairment is carried out at each reporting date, with the recoverable amounts being estimated where such indicators exist. Should the carrying value exceed the recoverable amount, the asset would be impaired accordingly.

Other accounting policies

Current taxCurrent tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using tax rates and laws that have been enacted or subsequently enacted at the reporting date.

Notes to the Financial Statements

for the Period Ended 31 March 2017

2. Employees

	2017	2016
Average number of employees during the period	4	4

Notes to the Financial Statements

for the Period Ended 31 March 2017

3. Tangible Assets

	Total
Cost	£
At 01 April 2016	349,185
Additions	46,405
At 31 March 2017	395,590
Depreciation
At 01 April 2016	7,134
Charge for year	7,879
At 31 March 2017	15,013
Net book value
At 31 March 2017	380,577
At 31 March 2016	342,051

The director of the company is of the opinion there is no significant increase in the value of Freehold Investment Properties included in tangible assets and that no reserve for impairment is required.

Notes to the Financial Statements

for the Period Ended 31 March 2017

4. Creditors: amounts falling due within one year note

Creditors falling due within one year comprise:Bank loans £11,248, Trade creditors £169,420, Taxation and social security £35,716 and other creditors £5,513.The comparative figures for 2016 were £11,356, £206,766, £37,784 and £14,155 respectively.The bank loans are secured on the relevant assets concerned.Included in other creditors is a loan from the director of the company amounting to £3,713 (2016 £12,655), which is unsecured, interest free and payable on demand.

Notes to the Financial Statements

for the Period Ended 31 March 2017

5. Creditors: amounts falling due after more than one year note

Creditors falling due in more than one year comprises bank loans in respect of Freehold Investment Properties.The bank loans are secured on the relevant assets concerned. Loans outstanding at the year end include instalments due after more than five years of £51,479 (2016 £56,620)

ND PLASTICS DIRECT LIMITED