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No description of principal activities is disclosed
2023-01-01
Sage Accounts Production 23.0 - FRS102_2023
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Company registration number:
05236164
Policystream Ltd
Unaudited filleted financial statements
31 December 2023
Policystream Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Policystream Ltd
Directors and other information
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Directors |
Mr T Mahon |
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Mr I Wallace |
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Secretary |
Mrs J Wallace |
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Company number |
05236164 |
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Registered office |
Vaughan Chambers |
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Vaughan Road |
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Harpenden |
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AL5 4EE |
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Accountants |
Hicks and Company |
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Chartered Accountants |
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Vaughan Chambers |
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Vaughan Road |
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Harpenden |
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AL5 4EE |
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Policystream Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Policystream Ltd
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Policystream Ltd for the year ended 31 December 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Policystream Ltd, as a body, in accordance with the terms of our engagement letter dated 8 September 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Policystream Ltd and state those matters that we have agreed to state to the board of directors of Policystream Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Policystream Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Policystream Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Policystream Ltd. You consider that Policystream Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Policystream Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
2 August 2024
Policystream Ltd
Statement of financial position
31 December 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Debtors |
|
5 |
46,796 |
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|
18,081 |
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Cash at bank and in hand |
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|
53,145 |
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27,635 |
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|
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|
_______ |
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_______ |
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99,941 |
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45,716 |
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Creditors: amounts falling due |
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within one year |
|
6 |
(
48,594) |
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|
(
23,196) |
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|
_______ |
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_______ |
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Net current assets |
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51,347 |
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22,520 |
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_______ |
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_______ |
Total assets less current liabilities |
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51,347 |
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22,520 |
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_______ |
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_______ |
Net assets |
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51,347 |
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22,520 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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5,015 |
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5,007 |
Profit and loss account |
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46,332 |
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17,513 |
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_______ |
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_______ |
Shareholders funds |
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51,347 |
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22,520 |
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_______ |
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_______ |
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For the year ending 31 December 2023 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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
02 August 2024
, and are signed on behalf of the board by:
Mr T Mahon
Director
Company registration number:
05236164
Policystream Ltd
Statement of changes in equity
Year ended 31 December 2023
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Called up share capital |
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Profit and loss account |
Total |
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£ |
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£ |
£ |
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At 1 January 2022 |
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5,007 |
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40,883 |
45,890 |
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Profit for the year |
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31,630 |
31,630 |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
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- |
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31,630 |
31,630 |
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Dividends paid and payable |
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|
(
55,000) |
(
55,000) |
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_______ |
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_______ |
_______ |
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Total investments by and distributions to owners |
|
- |
|
(
55,000) |
(
55,000) |
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_______ |
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_______ |
_______ |
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At 31 December 2022 and 1 January 2023 |
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5,007 |
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17,513 |
22,520 |
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Profit for the year |
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103,819 |
103,819 |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
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- |
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103,819 |
103,819 |
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Issue of shares |
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8 |
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8 |
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Dividends paid and payable |
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(
75,000) |
(
75,000) |
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_______ |
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_______ |
_______ |
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Total investments by and distributions to owners |
|
8 |
|
(
75,000) |
(
74,992) |
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_______ |
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_______ |
_______ |
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At 31 December 2023 |
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5,015 |
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46,332 |
51,347 |
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_______ |
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_______ |
_______ |
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Policystream Ltd
Notes to the financial statements
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, AL5 4EE.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. 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.
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.Debt instruments are subsequently measured at amortised cost.
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.When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2022:
3
).
5.
Debtors
|
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2023 |
2022 |
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|
£ |
£ |
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Trade debtors |
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46,791 |
18,081 |
|
Other debtors |
|
5 |
- |
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_______ |
_______ |
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46,796 |
18,081 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Trade creditors |
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12,478 |
13,183 |
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Corporation tax |
|
31,929 |
7,419 |
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Social security and other taxes |
|
- |
85 |
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Other creditors |
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4,187 |
2,509 |
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_______ |
_______ |
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48,594 |
23,196 |
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_______ |
_______ |
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7.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2023 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
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|
£ |
£ |
£ |
|
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|
|
Mr T Mahon |
- |
(
809) |
(
809) |
|
|
|
|
Mr I Wallace |
- |
(
812) |
(
812) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
- |
(
1,621) |
(
1,621) |
|
|
|
|
|
_______ |
_______ |
_______ |
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|
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|
|
|
|
|
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2022 |
|
|
|
|
|
|
|
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|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr T Mahon |
- |
- |
- |
|
|
|
|
Mr I Wallace |
- |
- |
- |
|
|
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_______ |
_______ |
_______ |
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8.
Related party transactions
Mr I Wallace
, Mr T Mahon
and Mr A Calder are shareholders in Capital Markets Underwriting Ltd. During the year ended 31 December 2023 the company received services with a value of £63,940 (2022 - £67,980) from Capital Markets Underwriting Ltd. At 31 December 2023 the balance due to Capital Markets Underwriting Ltd from Policystream Ltd
was £3,430 (2022 - £4,870).