Company Registration No. 5520754 (England and Wales)
BANKLANDS TACTIC LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2017
PAGES FOR FILING WITH REGISTRAR
BANKLANDS TACTIC LTD
COMPANY INFORMATION
Director
Mr Mark Wilding
Secretary
Mr W V Hitchmough
Company number
5520754
Registered office
7 Willow Way
Broughton
Chester
Cheshire
CH4 0RH
Accountants
TaxAssist Accountants Ellesmere Port
38 Station Road
Ellesmere Port
CH65 4BQ
BANKLANDS TACTIC LTD
CONTENTS
Page
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
BANKLANDS TACTIC LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JULY 2017
- 1 -
The director presents his annual report and financial statements for the year ended 31 July 2017.
Principal activities
The principal activity of the company continued to be that of the provision of HGV & other transport services.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr Mark Wilding
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr Mark Wilding
Director
29 March 2018
BANKLANDS TACTIC LTD
BALANCE SHEET
AS AT
31 JULY 2017
31 July 2017
- 2 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
111
145
Current assets
Debtors
4
20,802
1,198
Cash at bank and in hand
-
9,382
20,802
10,580
Creditors: amounts falling due within one year
5
(13,887)
(7,130)
Net current assets
6,915
3,450
Total assets less current liabilities
7,026
3,595
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
7,025
3,594
Total equity
7,026
3,595
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 29 March 2018
Mr Mark Wilding
Director
Company Registration No. 5520754
BANKLANDS TACTIC LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2017
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2015
1
3,951
3,952
Year ended 31 July 2016:
Profit and total comprehensive income for the year
-
3,594
3,594
Dividends
-
(3,951)
(3,951)
Balance at 31 July 2016
1
3,594
3,595
Year ended 31 July 2017:
Profit and total comprehensive income for the year
-
6,431
6,431
Dividends
-
(3,000)
(3,000)
Balance at 31 July 2017
1
7,025
7,026
BANKLANDS TACTIC LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2017
- 4 -
1
Accounting policies
Company information
Banklands Tactic Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
7 Willow Way, Broughton, Chester, Cheshire, CH4 0RH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
20% reducing balance
1.4
Impairment of fixed assets
BANKLANDS TACTIC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2017
1
Accounting policies
(Continued)
- 5 -
1.5
Equity instruments
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
1.7
Employee benefits
1.8
Retirement benefits
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2016 - 3).
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 August 2016 and 31 July 2017
1,026
104
1,130
Depreciation and impairment
At 1 August 2016
923
61
984
Depreciation charged in the year
26
9
35
At 31 July 2017
949
70
1,019
Carrying amount
At 31 July 2017
77
34
111
At 31 July 2016
103
42
145
BANKLANDS TACTIC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2017
- 6 -
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
11,464
1,198
Other debtors
9,338
-
20,802
1,198
5
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
853
-
Trade creditors
8,806
-
Corporation tax
1,593
2,828
Other taxation and social security
505
1,276
Other creditors
2,130
3,026
13,887
7,130
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1