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No description of principal activity
2017-04-01
Sage Accounts Production Advanced 2018 - FRS
6,000
6,000
6,000
xbrli:pure
xbrli:shares
iso4217:GBP
05496165
2017-04-01
2018-03-31
05496165
2018-03-31
05496165
2017-03-31
05496165
2017-03-31
05496165
core:FurnitureFittings
2017-04-01
2018-03-31
05496165
bus:Director3
2017-04-01
2018-03-31
05496165
core:FurnitureFittings
2017-03-31
05496165
core:LandBuildings
2018-03-31
05496165
core:FurnitureFittings
2018-03-31
05496165
core:WithinOneYear
2018-03-31
05496165
core:WithinOneYear
2017-03-31
05496165
core:ShareCapital
2018-03-31
05496165
core:ShareCapital
2017-03-31
05496165
core:SharePremium
2018-03-31
05496165
core:SharePremium
2017-03-31
05496165
core:CapitalRedemptionReserve
2018-03-31
05496165
core:CapitalRedemptionReserve
2017-03-31
05496165
core:RetainedEarningsAccumulatedLosses
2018-03-31
05496165
core:RetainedEarningsAccumulatedLosses
2017-03-31
05496165
core:CostValuation
core:Non-currentFinancialInstruments
2018-03-31
05496165
core:Non-currentFinancialInstruments
2018-03-31
05496165
core:Non-currentFinancialInstruments
2017-03-31
05496165
core:LandBuildings
2017-03-31
05496165
core:FurnitureFittings
2017-03-31
05496165
bus:SmallEntities
2017-04-01
2018-03-31
05496165
bus:AuditExemptWithAccountantsReport
2017-04-01
2018-03-31
05496165
bus:FullAccounts
2017-04-01
2018-03-31
05496165
bus:SmallCompaniesRegimeForAccounts
2017-04-01
2018-03-31
05496165
bus:PrivateLimitedCompanyLtd
2017-04-01
2018-03-31
COMPANY REGISTRATION NUMBER:
05496165
Filleted Unaudited Financial Statements
|
|
Statement of Financial Position
|
|
31 March 2018
Fixed assets
Tangible assets
|
4
|
|
160,730
|
160,974
|
Investments
|
5
|
|
6,000
|
6,000
|
|
|
---------
|
---------
|
|
|
166,730
|
166,974
|
|
|
|
|
|
Current assets
Debtors
|
6
|
52,556
|
|
36,017
|
Cash at bank and in hand
|
14,325
|
|
14,690
|
|
--------
|
|
--------
|
|
66,881
|
|
50,707
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
33,362
|
|
19,141
|
|
--------
|
|
--------
|
Net current assets
|
|
33,519
|
31,566
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
200,249
|
198,540
|
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
5,069
|
4,826
|
|
|
---------
|
---------
|
Net assets
|
|
205,318
|
203,366
|
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
1,200
|
1,200
|
Share premium account
|
|
192,220
|
192,220
|
Capital redemption reserve
|
|
5,240
|
5,240
|
Profit and loss account
|
|
6,658
|
4,706
|
|
|
---------
|
---------
|
Shareholders funds
|
|
205,318
|
203,366
|
|
|
---------
|
---------
|
|
|
|
|
These 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 March 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 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 financial statements
.
Statement of Financial Position (continued)
|
|
31 March 2018
These financial statements were approved by the
board of directors
and authorised for issue on
3 October 2018
, and are signed on behalf of the board by:
Company registration number:
05496165
Notes to the Financial Statements
|
|
Year ended 31 March 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 Unit 15, IO Centre, 57A Croydon Road, Croydon, CR0 4WQ.
2.
Statement of compliance
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
|
Fixtures & fittings
|
-
|
25% reducing balance
|
|
|
|
|
Investment property
The investment property is shown at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The director considers the fair value at 31 March 2017 is not materially different from previous years, hence no adjustment has been made to the value shown above.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Tangible assets
|
Investment property
|
Fixtures and fittings
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 April 2017 and 31 March 2018
|
160,000
|
5,431
|
165,431
|
|
---------
|
-------
|
---------
|
Depreciation
|
|
|
|
At 1 April 2017
|
–
|
4,457
|
4,457
|
Charge for the year
|
–
|
244
|
244
|
|
---------
|
-------
|
---------
|
At 31 March 2018
|
–
|
4,701
|
4,701
|
|
---------
|
-------
|
---------
|
Carrying amount
|
|
|
|
At 31 March 2018
|
160,000
|
730
|
160,730
|
|
---------
|
-------
|
---------
|
At 31 March 2017
|
160,000
|
974
|
160,974
|
|
---------
|
-------
|
---------
|
|
|
|
|
Investment property was valued on an open market basis on 31 March 2017 by the directors
.
5.
Investments
|
Shares in group undertakings
|
|
£
|
Cost
|
|
At 1 April 2017 and 31 March 2018
|
6,000
|
|
-------
|
Impairment
|
|
At 1 April 2017 and 31 March 2018
|
–
|
|
-------
|
|
|
Carrying amount
|
|
At 31 March 2018
|
6,000
|
|
-------
|
At 31 March 2017
|
6,000
|
|
-------
|
|
|
6.
Debtors
|
2018
|
2017
|
|
£
|
£
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
52,556
|
36,017
|
|
--------
|
--------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2018
|
2017
|
|
£
|
£
|
Other creditors
|
33,362
|
19,141
|
|
--------
|
--------
|
|
|
|
8.
Related party transactions
There is no ultimate controlling party. The company has taken advantage of the exemption available under FRS 102 Section 1A to not disclose transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.