Registered number: 07316118
POSTERCO LTD
REPORT AND ACCOUNTS
FOR THE YEAR ENDED
31 MARCH 2018
POSTERCO LTD
REGISTERED NUMBER: 07316118
BALANCE SHEET
as at 31 March 2018
Notes 2018 2017
£ £
CURRENT ASSETS
Stocks 5,000 4,500
Debtors 2 1,467 1,467
Cash at bank and in hand 3,949 2,703
10,416 8,670
CREDITORS: amounts falling due within one year 3 (222,694) (221,165)
NET CURRENT LIABILITIES (212,278) (212,495)
NET LIABILITIES (212,278) (212,495)
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account (212,378) (212,595)
SHAREHOLDER'S FUNDS (212,278) (212,495)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Smith
Director
Approved by the board on 27 September 2018
POSTERCO LTD
NOTES TO THE ACCOUNTS
for the year ended 31 March 2018
1 ACCOUNTING POLICIES
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A small entities.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Going Concern
The accounts have been prepared on the going concern basis based on the continued financial support of the director.
2 DEBTORS 2018 2017
£ £
Other debtors 1,467 1,467
3 CREDITORS: amounts falling due within one year 2018 2017
£ £
Trade creditors 3,046 1,996
Other creditors 219,648 219,169
222,694 221,165
4 RELATED PARTY TRANSACTIONS
At the balance sheet date £219,167 (2017: £218,689) was due from the company to Mr P Smith, a director. The amount is unsecured, interest free and has no fixed repayment date.
5 CONTROLLING PARTY
The company was under the control of Mr P Smith.
6 OTHER INFORMATION
Posterco Ltd is a private company limited by shares and incorporated in England. Its registered office is:
17 Thorpe Road
Melton Mowbray
Leicestershire
LE13 1SE
POSTERCO LTD 07316118 false 2017-04-01 2018-03-31 2018-03-31 VT Final Accounts November 2016, release 3 Mr P Smith No description of principal activity 07316118 core:WithinOneYear 2017-03-31 07316118 core:ShareCapital 2017-03-31 07316118 core:RetainedEarningsAccumulatedLosses 2017-03-31 07316118 2017-04-01 2018-03-31 07316118 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 07316118 bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 07316118 bus:Director40 2017-04-01 2018-03-31 07316118 1 2017-04-01 2018-03-31 07316118 2 2017-04-01 2018-03-31 07316118 countries:England 2017-04-01 2018-03-31 07316118 bus:FRS102 2017-04-01 2018-03-31 07316118 bus:FullAccounts 2017-04-01 2018-03-31 07316118 2018-03-31 07316118 core:WithinOneYear 2018-03-31 07316118 core:ShareCapital 2018-03-31 07316118 core:RetainedEarningsAccumulatedLosses 2018-03-31 07316118 2017-03-31 iso4217:GBP