Company Registration No. 03260069 (England and Wales)
Ian Taylor Associates Limited
Unaudited accounts
for the year ended 31 July 2018
Ian Taylor Associates Limited
Unaudited accounts
Contents
Ian Taylor Associates Limited
Statement of financial position
as at
31 July 2018
Tangible assets
2,061
557
Cash at bank and in hand
46,587
28,015
Creditors: amounts falling due within one year
(56,605)
(77,958)
Net current assets
76,978
50,936
Called up share capital
500
500
Share premium
27,300
27,300
Profit and loss account
51,239
23,693
Shareholders' funds
79,039
51,493
For the year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 9 November 2018.
A I Taylor
Director
Company Registration No. 03260069
Ian Taylor Associates Limited
Notes to the Accounts
for the year ended 31 July 2018
Ian Taylor Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 03260069. The registered office is 12 Richborne Terrace, London , SW8 1AU , UK .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 July 2018 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2016.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance Method
Computer equipment
25% Reducing Balance Method
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Ian Taylor Associates Limited
Notes to the Accounts
for the year ended 31 July 2018
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2017
4,308
743
5,051
Additions
1,249
941
2,190
At 31 July 2018
5,557
1,684
7,241
At 1 August 2017
4,308
186
4,494
Charge for the year
312
374
686
At 31 July 2018
4,620
560
5,180
At 31 July 2018
937
1,124
2,061
At 31 July 2017
-
557
557
Trade debtors
76,456
68,359
Other debtors
10,540
32,520
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Creditors: amounts falling due within one year
2018
2017
Trade creditors
4,633
9,055
Taxes and social security
24,398
30,048
Other creditors
18,571
7,860
Loans from directors
9,003
30,995
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Average number of employees
During the year the average number of employees was 2 (2017: 2).