4 false false false false false false false false false true false false false false false false No description of principal activity 2021-01-01 Sage Accounts Production Advanced 2020 - FRS102_2019 3,799 1,991 1,444 4,346 1,720 1,249 991 1,978 2,368 2,079 xbrli:pure xbrli:shares iso4217:GBP 09339894 2021-01-01 2021-12-31 09339894 2021-12-31 09339894 2020-12-31 09339894 2020-01-01 2020-12-31 09339894 2020-12-31 09339894 bus:Director1 2021-01-01 2021-12-31 09339894 core:WithinOneYear 2021-12-31 09339894 core:WithinOneYear 2020-12-31 09339894 core:AfterOneYear 2021-12-31 09339894 core:AfterOneYear 2020-12-31 09339894 core:UKTax 2021-01-01 2021-12-31 09339894 core:UKTax 2020-01-01 2020-12-31 09339894 core:ShareCapital 2021-12-31 09339894 core:ShareCapital 2020-12-31 09339894 core:RetainedEarningsAccumulatedLosses 2021-12-31 09339894 core:RetainedEarningsAccumulatedLosses 2020-12-31 09339894 bus:SmallEntities 2021-01-01 2021-12-31 09339894 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 09339894 bus:FullAccounts 2021-01-01 2021-12-31 09339894 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 09339894 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 09339894 core:ComputerEquipment 2021-01-01 2021-12-31 09339894 core:ComputerEquipment 2020-12-31 09339894 core:ComputerEquipment 2021-12-31
COMPANY REGISTRATION NUMBER: 09339894
GAINES ROBSON INSOLVENCY LTD.
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2021
GAINES ROBSON INSOLVENCY LTD.
STATEMENT OF FINANCIAL POSITION
31 December 2021
2021
2020
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
2,368
2,079
CURRENT ASSETS
Debtors
7
454,947
192,089
Cash at bank and in hand
158,320
288,419
---------
---------
613,267
480,508
CREDITORS: amounts falling due within one year
8
( 190,998)
( 138,454)
---------
---------
NET CURRENT ASSETS
422,269
342,054
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
424,637
344,133
CREDITORS: amounts falling due after more than one year
9
( 38,885)
( 47,500)
PROVISIONS
Taxation including deferred tax
( 497)
( 395)
---------
---------
NET ASSETS
385,255
296,238
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
385,155
296,138
---------
---------
SHAREHOLDERS FUNDS
385,255
296,238
---------
---------
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 Section 1A of 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 income and retained earnings has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GAINES ROBSON INSOLVENCY LTD.
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 17 August 2022 , and are signed on behalf of the board by:
D J Robson
Director
Company registration number: 09339894
GAINES ROBSON INSOLVENCY LTD.
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Carrwood Park, Selby Road, Leeds, LS15 4LG.
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 have been prepared on the historical cost basis. 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.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Office equipment
-
33% reducing balance
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 4 (2020: 4 ).
5. TAX ON PROFIT
Major components of tax expense
2021
2020
£
£
Current tax:
UK current tax expense
37,667
31,964
Deferred tax:
Origination and reversal of timing differences
102
241
--------
--------
Tax on profit
37,769
32,205
--------
--------
6. TANGIBLE ASSETS
Computer Equipment
Total
£
£
Cost
At 1 January 2021
3,799
3,799
Additions
1,991
1,991
Disposals
( 1,444)
( 1,444)
-------
-------
At 31 December 2021
4,346
4,346
-------
-------
Depreciation
At 1 January 2021
1,720
1,720
Charge for the year
1,249
1,249
Disposals
( 991)
( 991)
-------
-------
At 31 December 2021
1,978
1,978
-------
-------
Carrying amount
At 31 December 2021
2,368
2,368
-------
-------
At 31 December 2020
2,079
2,079
-------
-------
7. DEBTORS
2021
2020
£
£
Trade debtors
42,561
Other debtors
412,386
192,089
---------
---------
454,947
192,089
---------
---------
8. CREDITORS: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
9,547
2,500
Trade creditors
2,209
3,456
Corporation tax
37,667
31,964
Social security and other taxes
19,711
8,497
Other creditors
121,864
92,037
---------
---------
190,998
138,454
---------
---------
9. CREDITORS: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
38,885
47,500
--------
--------