REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2018 |
for |
Thames Valley Asset Finance Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2018 |
for |
Thames Valley Asset Finance Limited |
Thames Valley Asset Finance Limited (Registered number: 05880332) |
Contents of the Financial Statements |
for the Year Ended 31 July 2018 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Thames Valley Asset Finance Limited |
Company Information |
for the Year Ended 31 July 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Overdene House |
49 Church Street |
Theale |
Reading |
Berkshire |
RG7 5BX |
Thames Valley Asset Finance Limited (Registered number: 05880332) |
Statement of Financial Position |
31 July 2018 |
31.7.18 | 31.7.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET 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. |
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: |
Thames Valley Asset Finance Limited (Registered number: 05880332) |
Notes to the Financial Statements |
for the Year Ended 31 July 2018 |
1. | STATUTORY INFORMATION |
Thames Valley Asset Finance Limited is a |
The company's registered number and registered office address can be found on the Company Information |
page. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention and comply with FRS 102 |
section 1A small entities. |
The presentation currency is sterling (£). |
Turnover |
Turnover represents commissions received, as adjusted for commission clawbacks. Income is recognised at the |
time of invoicing, when the company obtains the right to consideration. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
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 statement of financial position date. |
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. |
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. |
Debtors |
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured |
initially at fair value, net of transactions costs, and are measured subsequently at amortised costs using the |
effective interest method, less any impairment. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are |
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised costs |
using the effective interest method. |
Thames Valley Asset Finance Limited (Registered number: 05880332) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2018 |
3. | ACCOUNTING POLICIES - continued |
Going concern justification |
The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is |
appropriate because there are no material uncertainties related to events or conditions that may cast significant |
doubt about the ability of the company to continue as a going concern. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2017 |
Additions |
At 31 July 2018 |
DEPRECIATION |
At 1 August 2017 |
Charge for year |
At 31 July 2018 |
NET BOOK VALUE |
At 31 July 2018 |
At 31 July 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.18 | 31.7.17 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.18 | 31.7.17 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' loan accounts | 6,724 | 4,188 |
Accruals and deferred income |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.7.18 | 31.7.17 |
£ | £ |
Within one year |
Between one and five years |
Thames Valley Asset Finance Limited (Registered number: 05880332) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2018 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At the balance sheet date, the following balance existed on a loan account with the director: |
A P Wise £6,724 in credit (2017 - £4,188 in credit) |
The above loan is interest free and with no fixed date for repayment. |
The company paid dividends to the director as follows: |
A P Wise £48,249 (2017 - £45,618) |
10. | ULTIMATE CONTROLLING PARTY |
The company is under the control of one of its directors, A P Wise, by virtue of his shareholding in the company. |