COPIER TECHNICAL SERVICES LIMITED |
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BALANCE SHEET |
AS AT 31 October 2017 |
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Notes |
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2017 |
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2016 |
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£ |
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£ |
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FIXED ASSETS |
Tangible assets |
6 |
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- |
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1,420 |
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CURRENT ASSETS |
Stock |
5,000 |
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5,000 |
Debtors |
7 |
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25,153 |
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19,138 |
Cash at bank and in hand |
9,329 |
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12,861 |
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39,482 |
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36,999 |
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CREDITORS: Amounts falling due within one year |
8 |
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18,622 |
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21,308 |
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NET CURRENT ASSETS |
20,860 |
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15,691 |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
20,860 |
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17,111 |
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Provisions for liabilities and charges |
- |
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284 |
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NET ASSETS |
20,860 |
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16,827 |
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CAPITAL AND RESERVES |
Called up share capital |
200 |
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200 |
Distributable profit and loss account |
20,660 |
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16,627 |
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SHAREHOLDER'S FUNDS |
20,860 |
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16,827 |
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These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
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For the financial year ended 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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Members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. |
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Signed on behalf of the board |
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D Bunting |
Director |
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Date approved by the board: 26 July 2018
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COPIER TECHNICAL SERVICES LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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1 |
GENERAL INFORMATION |
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Copier Technical Services Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are: |
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Registered office |
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Principal place of business |
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Cranbrook House |
19 Beech Road |
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287-291 Banbury Road |
Eynsham |
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Oxford |
Oxford |
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OX2 7JQ |
OX29 4LL |
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The financial statements are presented in Sterling, which is the functional currency of the company. |
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2 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
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Basis of preparation of financial statements |
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These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
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Revenue recognition |
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Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives. |
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Computer equipment |
20% reducing balance basis per annum
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Office equipment |
20% reducing balance basis per annum
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On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses. |
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2 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) |
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Financial Instruments |
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The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
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5 |
EMPLOYEES |
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The average number of persons employed by the company (including the director) during the year was: |
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2017 |
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2016 |
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Average number of employees |
1 |
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1 |
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6 |
TANGIBLE ASSETS |
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Computer equipment |
Office equipment |
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Total |
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£ |
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£ |
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£ |
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Cost |
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At 1 November 2016 |
2,324 |
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859 |
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3,183 |
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Disposals |
(2,324) |
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(859) |
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(3,183) |
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At 31 October 2017 |
- |
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- |
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- |
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Accumulated depreciation |
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At 1 November 2016 |
1,053 |
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710 |
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1,763 |
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Disposals |
(1,053) |
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(710) |
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(1,763) |
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At 31 October 2017 |
- |
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- |
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- |
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Net book value |
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At 1 November 2016 |
1,271 |
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149 |
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1,420 |
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At 31 October 2017 |
- |
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- |
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- |
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7 |
DEBTORS |
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2017 |
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2016 |
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£ |
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£ |
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Trade debtors |
25,153 |
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19,138 |
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8 |
CREDITORS: Amounts falling due within one year |
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2017 |
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2016 |
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£ |
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£ |
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Trade creditors |
2,708 |
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3,813 |
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Taxation and social security |
12,680 |
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14,420 |
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Accruals and deferred income |
2,691 |
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2,642 |
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Other creditors |
543 |
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433 |
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18,622 |
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21,308 |
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9 |
RECONCILIATIONS ON ADOPTION OF FRS 102 |
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These financial statements for the year ended 31 October 2017 are the first financial statements that comply with FRS 102. The date of transition to FRS 102 is 1 November 2015. |
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Profit and loss for the year ended 31 October 2016 |
£ |
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Profit for the year under former UK GAAP |
28,022 |
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Profit for the year under FRS 102 |
28,022 |
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Balance sheet at 31 October 2016 |
£ |
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Equity under former UK GAAP |
16,827 |
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Equity under FRS 102 |
16,827 |
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Balance sheet at 1 November 2015 |
£ |
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Equity under former UK GAAP |
1,805 |
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Equity under FRS 102 |
1,805 |
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