REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
ADMIN SERVICES (CITY) LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
ADMIN SERVICES (CITY) LIMITED |
ADMIN SERVICES (CITY) LIMITED (REGISTERED NUMBER: 01029658) |
Contents of the Financial Statements |
for the year ended 30 June 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
ADMIN SERVICES (CITY) LIMITED |
Company Information |
for the year ended 30 June 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
5th Floor |
Palladium House |
1-4 Argyll Street |
London |
W1F 7TA |
ADMIN SERVICES (CITY) LIMITED (REGISTERED NUMBER: 01029658) |
Statement of Financial Position |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
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. |
The financial statements were approved by the director and authorised for issue on |
ADMIN SERVICES (CITY) LIMITED (REGISTERED NUMBER: 01029658) |
Notes to the Financial Statements |
for the year ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Admin Services (City) Limited is a private company, limited by shares, registered in England and Wales. 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 |
Revenue |
Revenue represents the total amount receivable, net of value added tax, for goods and services provided in the ordinary course of business. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Computer Equipment | 25% on cost |
Taxation |
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively. |
Current taxation assets and liabilities are not discounted. |
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. |
Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. |
Deferred taxation assets and liabilities are not discounted. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that the directors consider it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
ADMIN SERVICES (CITY) LIMITED (REGISTERED NUMBER: 01029658) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2024 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has adopted section 11 of FRS 102 in respect of its basic financial instruments. |
Basic financial assets |
Trade and other debtors, amounts owed by related undertakings, cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method. |
At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
Basic financial liabilities |
Trade and other creditors, directors' current accounts and accruals are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method. |
Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired. |
Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short term deposits with an original maturity date of three months or less. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | PROPERTY, PLANT AND EQUIPMENT |
Computer |
equipment |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
ADMIN SERVICES (CITY) LIMITED (REGISTERED NUMBER: 01029658) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Corporation tax refund | ( |
) | ( |
) |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Corporation tax |
Social security and other taxes |
Directors' current accounts | 1,368 | 12,050 |
Accruals and deferred income |
8. | FINANCIAL INSTRUMENTS |
The Company has the following financial instruments: |
2023 | 2022 |
Financial assets that are debt instruments measured at amortised cost |
- Trade debtors | 55,827 | 53,110 |
- Other debtors | - | - |
55,827 | 53,110 |
Financial liabilities measured at amortised cost |
- Trade creditors | 233 | 174 |
- Accruals and deferred income | 3,600 | 3,000 |
3,833 | 3,174 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary shares | 1 | 2 | 2 |
ADMIN SERVICES (CITY) LIMITED (REGISTERED NUMBER: 01029658) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2024 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 July 2023 |
Profit for the year |
Dividends | ( |
) |
At 30 June 2024 |
11. | RELATED PARTY DISCLOSURES |
Educational Facilities Management Partnership Limited |
M B Matza is a director of Educational Facilities Management Partnership Limited a company under common control. During the year, the company was charged £79,827 (2023: £72,272) for services. At the balance sheet date within trade debtors there is an amount owed from Educational Facilities Management Partnership Limited of £42,515 (2023: £55,445). The amount is interest free and there is no fixed date for repayment. |
M B Matza |
Director and Shareholder |
At the balance sheet date the company owed £1,368 (2023: £12,050) to a director, M B Matza. The amount is unsecured and interest free, and there is no fixed date of repayment. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is M B Matza. |