REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30th September 2023 |
for |
Article 27 Representation (Uk) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30th September 2023 |
for |
Article 27 Representation (Uk) Limited |
Article 27 Representation (Uk) Limited (Registered number: 12226889) |
Contents of the Financial Statements |
for the Year Ended 30th September 2023 |
Page |
Abridged Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Article 27 Representation (Uk) Limited (Registered number: 12226889) |
Abridged Balance Sheet |
30th September 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
Article 27 Representation (Uk) Limited (Registered number: 12226889) |
Abridged Balance Sheet - continued |
30th September 2023 |
The financial statements were approved by the director and authorised for issue on |
Article 27 Representation (Uk) Limited (Registered number: 12226889) |
Notes to the Financial Statements |
for the Year Ended 30th September 2023 |
1. | STATUTORY INFORMATION |
Article 27 Representation (Uk) Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Sales comprise the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts. |
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows : |
Rendering of services |
Revenue from the rendering of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year. They are subsequently released to the profit and loss in the period the services are rendered. |
Article 27 Representation (Uk) Limited (Registered number: 12226889) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2023 |
3. | ACCOUNTING POLICIES - continued |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Basic financial liabilities |
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Article 27 Representation (Uk) Limited (Registered number: 12226889) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2023 | 2022 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 7,509 | 13,038 |
Included within the figure: 'Creditors due after more than one year' on the Balance Sheet are the above stated value of creditors owed in more than five years |
6. | RELATED PARTY DISCLOSURES |
At the year end , the company owed £38,587 (2022 : £37,805) from Crown PMS Limited. |
At the year end , the company owed £3,883 (2022 : £4,184) from Interim Contingency Services Ltd. |
At the year end , the company owed £4,941 (2022 : £15,537) to Vat Representative Services (Uk) Limited. |
At the year end , the company owed £13,140 (2022: £13,905) to Article 37 (Data Protection Officer) Services (Uk) Limited. |
At the year end , the company owed £1,057 (2022 :£Nil) from Article 27 ROI Limited. |
These are interest free loans. |
7. | GOING CONCERN |
Management have assessed the company's ability to continue as a going concern. Assurance has been sought from the director that they will continue to support the company and they have agreed not to demand repayment of the loan until the situation is resolved. Therefore, the company remains a going concern |