false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2017-04-01
Sage Accounts Production Advanced 2018 - FRS
10,000
6,000
2,000
8,000
2,000
4,000
108
863
971
22
190
212
759
86
xbrli:pure
xbrli:shares
iso4217:GBP
08292071
2017-04-01
2018-03-31
08292071
2018-03-31
08292071
2017-03-31
08292071
2016-04-01
2017-03-31
08292071
2017-03-31
08292071
core:NetGoodwill
2017-04-01
2018-03-31
08292071
core:FurnitureFittings
2017-04-01
2018-03-31
08292071
bus:Director1
2017-04-01
2018-03-31
08292071
core:NetGoodwill
2017-03-31
08292071
core:NetGoodwill
2018-03-31
08292071
core:FurnitureFittings
2017-03-31
08292071
core:FurnitureFittings
2018-03-31
08292071
core:WithinOneYear
2018-03-31
08292071
core:WithinOneYear
2017-03-31
08292071
core:ShareCapital
2018-03-31
08292071
core:ShareCapital
2017-03-31
08292071
core:RetainedEarningsAccumulatedLosses
2018-03-31
08292071
core:RetainedEarningsAccumulatedLosses
2017-03-31
08292071
core:NetGoodwill
2017-03-31
08292071
core:FurnitureFittings
2017-03-31
08292071
bus:SmallEntities
2017-04-01
2018-03-31
08292071
bus:AuditExemptWithAccountantsReport
2017-04-01
2018-03-31
08292071
bus:FullAccounts
2017-04-01
2018-03-31
08292071
bus:SmallCompaniesRegimeForAccounts
2017-04-01
2018-03-31
08292071
bus:PrivateLimitedCompanyLtd
2017-04-01
2018-03-31
COMPANY REGISTRATION NUMBER:
08292071
Filleted Unaudited Financial Statements |
|
Year ended 31 March 2018
Statement of financial position |
1 to 2 |
|
|
Notes to the financial statements |
3 to 6 |
|
|
Statement of Financial Position |
|
31 March 2018
Fixed assets
Intangible assets |
5 |
|
2,000 |
4,000 |
Tangible assets |
6 |
|
759 |
86 |
|
|
------- |
------- |
|
|
2,759 |
4,086 |
|
|
|
|
|
Current assets
Debtors |
7 |
5,525 |
|
9,585 |
Cash at bank and in hand |
4,902 |
|
7,705 |
|
-------- |
|
-------- |
|
10,427 |
|
17,290 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
12,497 |
|
19,486 |
|
-------- |
|
-------- |
Net current liabilities |
|
2,070 |
2,196 |
|
|
------- |
------- |
Total assets less current liabilities |
|
689 |
1,890 |
|
|
---- |
------- |
Net assets |
|
689 |
1,890 |
|
|
---- |
------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
589 |
1,790 |
|
|
---- |
------- |
Shareholders funds |
|
689 |
1,890 |
|
|
---- |
------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 March 2018
These financial statements were approved by the
board of directors
and authorised for issue on
6 August 2018
, and are signed on behalf of the board by:
Company registration number:
08292071
Notes to the Financial Statements |
|
Year ended 31 March 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vernon Road, Stoke on Trent, Staffordshire, ST4 2QY.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate.Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current 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 the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
20% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
20% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2017:
1
).
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
At 1 April 2017 and 31 March 2018 |
10,000 |
|
-------- |
Amortisation |
|
At 1 April 2017 |
6,000 |
Charge for the year |
2,000 |
|
-------- |
At 31 March 2018 |
8,000 |
|
-------- |
Carrying amount |
|
At 31 March 2018 |
2,000 |
|
-------- |
At 31 March 2017 |
4,000 |
|
-------- |
|
|
6.
Tangible assets
|
Fixtures and fittings |
Total |
|
£ |
£ |
Cost |
|
|
At 1 April 2017 |
108 |
108 |
Additions |
863 |
863 |
|
---- |
---- |
At 31 March 2018 |
971 |
971 |
|
---- |
---- |
Depreciation |
|
|
At 1 April 2017 |
22 |
22 |
Charge for the year |
190 |
190 |
|
---- |
---- |
At 31 March 2018 |
212 |
212 |
|
---- |
---- |
Carrying amount |
|
|
At 31 March 2018 |
759 |
759 |
|
---- |
---- |
At 31 March 2017 |
86 |
86 |
|
---- |
---- |
|
|
|
7.
Debtors
|
2018 |
2017 |
|
£ |
£ |
Trade debtors |
5,157 |
9,264 |
Other debtors |
368 |
321 |
|
------- |
------- |
|
5,525 |
9,585 |
|
------- |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2018 |
2017 |
|
£ |
£ |
Corporation tax |
1,406 |
3,258 |
Social security and other taxes |
4,090 |
4,547 |
Other creditors |
7,001 |
11,681 |
|
-------- |
-------- |
|
12,497 |
19,486 |
|
-------- |
-------- |
|
|
|
9.
Related party transactions
Transactions with directors are under normal market conditions and or not material.
10.
Post balance sheet events
There was no material events up to the date of approval of the financial statements by the board.