Metro Repro Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02723025 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

METRO REPRO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R H Foster

Mrs H H Foster

Mr P R Foster

SECRETARY:

Mrs H H Foster

REGISTERED OFFICE:

B I House

Carliol Square

Newcastle upon Tyne

Tyne and Wear

NE1 6UF

REGISTERED NUMBER:

02723025 (England and Wales)

ACCOUNTANTS:

Robson Laidler Accountants Limited

Fernwood House

Fernwood Road

Jesmond

Newcastle upon Tyne

NE2 1TJ

BANKERS:

Barclays Bank plc

49/51 Northumberland Street

Newcastle upon Tyne

Tyne and Wear

NE1 7AF

SOLICITORS:

Ward Hadaway

Newcastle upon Tyne

Tyne and Wear

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

101,358

134,888

Investments

6

40,145

141,503

175,033

CURRENT ASSETS

Stocks

10,000

Debtors

7

150,311

112,616

Cash at bank

694,048

658,792

854,359

781,408

CREDITORS

Amounts falling due within one year

8

87,113

99,270

NET CURRENT ASSETS

767,246

682,138

TOTAL ASSETS LESS CURRENT
LIABILITIES

908,749

857,171

PROVISIONS FOR LIABILITIES

7,380

11,041

NET ASSETS

901,369

846,130

CAPITAL AND RESERVES

Called up share capital

106,000

Retained earnings

795,369

740,130

SHAREHOLDERS' FUNDS

901,369

846,130

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 16 March 2018 and were signed on its
behalf by:

Mr R H Foster - Director

1.	STATUTORY INFORMATION

Metro Repro 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1993, is being amortised evenly over its estimated useful life of twenty years.

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

-

33% on cost and 15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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.

Government grants

Grants for capital expenditure are deferred and released to the profit and loss account over the useful

economic life of the asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2016 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

224,237

AMORTISATION

At 1 April 2016

and 31 March 2017

224,237

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 April 2016

155,397

31,912

106,644

293,953

Additions

2,900

-

9,500

12,400

Disposals

-

(37,805

)

(37,805

)

At 31 March 2017

158,297

31,912

78,339

268,548

DEPRECIATION

At 1 April 2016

91,219

28,721

39,125

159,065

Charge for year

11,353

477

14,306

26,136

Eliminated on disposal

-

(18,011

)

(18,011

)

At 31 March 2017

102,572

29,198

35,420

167,190

NET BOOK VALUE

At 31 March 2017

55,725

2,714

42,919

101,358

At 31 March 2016

64,178

3,191

67,519

134,888

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2016

and 31 March 2017

40,145

NET BOOK VALUE

At 31 March 2017

40,145

At 31 March 2016

40,145

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

61,759

72,203

Directors' current accounts

61,343

18,499

Corporation tax recoverable

15,955

13,271

Prepayments and accrued income

11,254

8,643

150,311

112,616

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade creditors

24,196

34,473

Corporation tax

34,570

19,579

Social security and other taxes

15,142

15,945

Directors' current accounts

-

16,893

Accrued expenses

13,205

12,380

87,113

99,270

9.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had total guarantees and other financial commitments of

£15,694 (2016: £14,616).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

Mr R H Foster and Mrs H H Foster

Balance outstanding at start of year

-

744

Amounts advanced

7,628

-

Amounts repaid

-

(744

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

7,628

-

Mr P R Foster

Balance outstanding at start of year

18,499

20,099

Amounts advanced

35,216

-

Amounts repaid

-

(1,600

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

53,715

18,499

Interest has been charged on the above loans at the official rate.

11.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time in the year ended 31 March 2017. The company

has taken advantage of the reduced disclosure requirements within Section 1A of this accounting

standard

The directors have considered the consequential changes in accounting policies resulting from the

adoption of FRS 102 and have concluded the transition adjustments required are considered to be

minimal. The date of transition to FRS 102 was 1 April 2015.