|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MAY 2017 |
|
FOR |
|
Monacor UK Limited |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MAY 2017 |
|
FOR |
|
Monacor UK Limited |
Monacor UK Limited (Registered number: 03050750) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Directors' Responsibilities Statement | 2 |
|
Independent Chartered Accountants' Review Report | 3 |
|
Balance Sheet | 4 |
|
Notes to the Financial Statements | 6 |
|
Monacor UK Limited |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2017 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
58a High Street |
Stony Stratford |
Milton Keynes |
Buckinghamshire |
MK11 1AQ |
DIRECTORS' RESPONSIBILITIES STATEMENT |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
MONACOR UK LIMITED |
|
|
The following reproduces the text of the report prepared for the directors and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
|
We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to: |
|
- | ensure that the company has kept proper accounting records; |
- |
prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 May 2017
and of its loss for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- |
follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to
the financial statements. |
|
ON BEHALF OF THE BOARD: |
|
|
|
|
|
|
|
4 September 2017 |
INDEPENDENT CHARTERED ACCOUNTANTS' REVIEW REPORT TO THE DIRECTORS OF |
MONACOR UK LIMITED |
|
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
|
We have reviewed the financial statements of Monacor UK Limited for the year ended 31 May 2017, which comprise the Income Statement, Balance Sheet and the related notes 1 to 8. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
|
This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed. |
|
Directors' responsibility for the financial statements |
As explained more fully in the Directors' Responsibilities Statement set out on page two, the directors are responsible for |
the preparation of the financial statements and for being satisfied that they give a true and fair view. |
|
Accountants' responsibility |
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review |
in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review |
historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on |
historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics. |
|
Scope of the assurance review |
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have |
performed additional procedures to those required under a compilation engagement. These primarily consist of making |
enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the |
evidence obtained. The procedures performed in a review are substantially less than those performed in an audit |
conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an |
audit opinion on these financial statements. |
|
Conclusion |
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared: |
- |
so as to give a true and fair view of the state of the company's affairs as at 31 May 2017 and of its loss for the year
then ended; |
- | in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | in accordance with the requirements of the Companies Act 2006. |
|
|
|
|
|
58a High Street |
Stony Stratford |
Milton Keynes |
Buckinghamshire |
MK11 1AQ |
|
|
Date: ............................................. |
Monacor UK Limited (Registered number: 03050750) |
|
BALANCE SHEET |
31 MAY 2017 |
|
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks | 5 |
|
|
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
|
|
NET (LIABILITIES)/ASSETS | ( |
) |
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
|
|
|
|
|
|
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. |
Monacor UK Limited (Registered number: 03050750) |
|
BALANCE SHEET - continued |
31 MAY 2017 |
|
|
|
|
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
by: |
|
|
|
|
|
|
|
Monacor UK Limited (Registered number: 03050750) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
|
1. | STATUTORY INFORMATION |
|
Monacor UK Limited is a
|
registered number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
|
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 |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Computer equipment | - |
|
|
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. |
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Monacor UK Limited (Registered number: 03050750) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
|
2. | ACCOUNTING POLICIES - continued |
|
Hire purchase and leasing commitments |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with |
the lessor are charged against profits over the period of the lease. |
|
Assets held under finance lease contracts are capitalised in the balance sheet and are depreciated in line with the |
company's depreciation policy. The finance costs relating to the obligation are charged to the profit and loss |
account on a systematic basis over the life of the relevant contract. |
|
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. |
|
Going concern |
These financial statements are prepared on the going concern basis because the holding company has undertaken |
to provide continuing financial support so that the Company is able to pay its debts as and when |
they fall due |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2016 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
|
( |
) |
|
( |
) |
At 31 May 2017 |
|
|
|
|
DEPRECIATION |
At 1 June 2016 |
|
|
|
|
Charge for year |
|
|
|
|
Eliminated on disposal |
|
( |
) |
|
( |
) |
At 31 May 2017 |
|
|
|
|
NET BOOK VALUE |
At 31 May 2017 |
|
|
|
|
At 31 May 2016 |
|
|
|
|
|
5. | STOCKS |
2017 | 2016 |
£ | £ |
Stocks |
|
|
Monacor UK Limited (Registered number: 03050750) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
|
|
Prepayments and accrued income |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Social security and other taxes |
|
|
VAT | 59,527 | 64,053 |
Other creditors |
|
|
Accruals and deferred income |
|
|
|
|
|
8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Amounts owed to group undertakings |
|
|
|
9. | ULTIMATE CONTROLLING PARTY |
|
The ultimate controlling party is
|