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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017 |
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AMBER SCREEN AND DISPLAY LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017 |
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FOR |
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AMBER SCREEN AND DISPLAY LIMITED |
AMBER SCREEN AND DISPLAY LIMITED (REGISTERED NUMBER: 07710954) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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AMBER SCREEN AND DISPLAY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
14 Cottesbrooke Park |
Heartlands |
Daventry |
Northamptonshire |
NN11 8YL |
AMBER SCREEN AND DISPLAY LIMITED (REGISTERED NUMBER: 07710954) |
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STATEMENT OF FINANCIAL POSITION |
31 AUGUST 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
AMBER SCREEN AND DISPLAY LIMITED (REGISTERED NUMBER: 07710954) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 AUGUST 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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AMBER SCREEN AND DISPLAY LIMITED (REGISTERED NUMBER: 07710954) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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1. | STATUTORY INFORMATION |
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Amber Screen and Display Limited is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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This is the first year in which the financial statements have been prepared under FRS 102 (1A). Refer to the |
notes for an explanation of the transition |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
AMBER SCREEN AND DISPLAY LIMITED (REGISTERED NUMBER: 07710954) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
element of the future payments is treated as a liability. |
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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. |
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Financial instruments |
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits |
with an original maturity date of three months or less. |
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Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income |
under administrative expenses. |
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Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets |
of the entity after deducting all of its financial liabilities. |
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Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar |
debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented |
as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the |
profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the |
outstanding liability. |
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Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability |
then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are |
debited direct to equity. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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AMBER SCREEN AND DISPLAY LIMITED (REGISTERED NUMBER: 07710954) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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4. | TANGIBLE FIXED ASSETS |
Long | Plant and | Motor | Computer |
leasehold | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 September 2016 |
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Additions |
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At 31 August 2017 |
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DEPRECIATION |
At 1 September 2016 |
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Charge for year |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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The net book value of tangible fixed assets includes £ 24,288 (2016 - £ 24,288 ) in respect of assets held under |
hire purchase contracts. |
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5. | STOCKS |
2017 | 2016 |
£ | £ |
Raw materials |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Provision for doubtful debts | (17,767 | ) | (17,865 | ) |
Other debtors |
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Directors' current accounts | 9,469 | 7,696 |
Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts (see note 9) |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 15,241 | 14,965 |
Other creditors |
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Accruals and deferred income |
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AMBER SCREEN AND DISPLAY LIMITED (REGISTERED NUMBER: 07710954) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans - 1-2 years |
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Hire purchase contracts (see note 9) |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable operating |
leases |
2017 | 2016 |
£ | £ |
Within one year |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1.00 | 100 | 100 |
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11. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £30,000 (2016 - £30,000) were paid to the director . |
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Included within other debtors is a loan to the director, Mr A Nutter, amounting to £9,468.38 (2015: £7,696). |
Interest was charged on the loan balance at the official rate. |
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12. | FIRST YEAR ADOPTION |
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This is the first year in which the financial statements have been produced under FRS 102 (1A). There have |
been no adjustments to the reported profit for the year or the opening and closing shareholders' funds as a |
result of the transition. |