COMPANY REGISTRATION NUMBER:
00891959
Filleted Unaudited Abridged Financial Statements
|
|
Abridged Statement of Financial Position
|
|
31 December 2018
Fixed assets
Tangible assets
|
5
|
|
17,022
|
29,979
|
|
|
|
|
|
Current assets
Work in progress
|
56,494
|
|
64,184
|
Debtors
|
112,370
|
|
115,434
|
Investments
|
6
|
–
|
|
150,591
|
Cash at bank and in hand
|
127,043
|
|
1,478,188
|
|
---------
|
|
------------
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|
295,907
|
|
1,808,397
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
103,351
|
|
83,003
|
|
---------
|
|
------------
|
Net current assets
|
|
192,556
|
1,725,394
|
|
|
---------
|
------------
|
Total assets less current liabilities
|
|
209,578
|
1,755,373
|
|
|
---------
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------------
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Net assets
|
|
209,578
|
1,755,373
|
|
|
---------
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------------
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|
|
|
|
Capital and reserves
Called up share capital
|
|
950
|
950
|
Profit and loss account
|
|
208,628
|
1,754,423
|
|
|
---------
|
------------
|
Shareholders funds
|
|
209,578
|
1,755,373
|
|
|
---------
|
------------
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|
|
|
|
These abridged 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 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.
For the year ending 31 December 2018 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 abridged 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued)
|
|
31 December 2018
These abridged financial statements were approved by the
board of directors
and authorised for issue on
25 September 2019
, and are signed on behalf of the board by:
Company registration number:
00891959
Notes to the Abridged Financial Statements
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Year ended 31 December 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ledsam Street Works, Ledsam Street, Birmingham, B16 8DN.
2.
Statement of compliance
These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of financial instruments have not been presented.
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 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.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
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:
|
Plant & Machinery
|
-
|
|
|
Computer Equipment
|
-
|
|
|
Motor Vehicles
|
-
|
|
|
|
|
|
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
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
25
(2017:
23
).
5.
Tangible assets
|
£
|
Cost
|
|
At 1 January 2018
|
416,684
|
Disposals
|
(
12,942)
|
|
---------
|
At 31 December 2018
|
403,742
|
|
---------
|
Depreciation
|
|
At 1 January 2018
|
386,705
|
Charge for the year
|
5,678
|
Disposals
|
(
5,663)
|
|
---------
|
At 31 December 2018
|
386,720
|
|
---------
|
Carrying amount
|
|
At 31 December 2018
|
17,022
|
|
---------
|
At 31 December 2017
|
29,979
|
|
---------
|
|
|
6.
Investments
|
2018
|
2017
|
|
£
|
£
|
Investments - Bullion Vault
|
–
|
150,591
|
|
----
|
---------
|
|
|
|
7.
Controlling party
As at 31st December 2018 the company was wholly controlled by the holding company Zambot 72 Limited. Zambot 72 Limited is wholly controlled by the director
Mr D. Jack
.