Registration number:
ATB Money Matters Limited
for the Year Ended 31 January 2017
Accountant
Pencoed Fawr Farm
Off Grove Park
Blackwood
Caerphilly
NP12 0BQ
ATB Money Matters Limited
Contents
Company Information |
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Accountants' Report |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
ATB Money Matters Limited
Company Information
Directors |
Mr Kevin David Cegielski Mr Roger Neil Parry Mrs Pamela Ann Parry |
Registered office |
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Bankers |
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Accountants |
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Page 1 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
ATB Money Matters Limited
for the Year Ended 31 January 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ATB Money Matters Limited for the year ended 31 January 2017 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.
It is your duty to ensure that ATB Money Matters Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ATB Money Matters Limited. You consider that ATB Money Matters Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of ATB Money Matters Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Accountant
Off Grove Park
Blackwood
Caerphilly
NP12 0BQ
Page 2 |
ATB Money Matters Limited
Statement of Comprehensive Income for the Year Ended 31 January 2017
Note |
2017 |
2016 |
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Profit for the year |
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Total comprehensive income for the year |
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Page 3 |
ATB Money Matters Limited
(Registration number: 06462877)
Balance Sheet as at 31 January 2017
Note |
2017 |
2016 |
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Fixed assets |
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Intangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mrs Pamela Ann Parry
Director
Page 4 |
ATB Money Matters Limited
Statement of Changes in Equity for the Year Ended 31 January 2017
Share capital |
Profit and loss account |
Total |
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At 1 February 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 January 2017 |
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Share capital |
Profit and loss account |
Total |
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At 1 February 2015 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 January 2016 |
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Page 5 |
ATB Money Matters Limited
Notes to the Financial Statements for the Year Ended 31 January 2017
General information |
The company is a private company limited by share capital incorporated in Wales.
The address of its registered office is:
The principal place of business is:
Pencoed Fawr Farm
Off Grove Park
Blackwood
Caerphilly
NP12 0BQ
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: They have now been fully depreciated to no value.
Asset class |
Depreciation method and rate |
Furniture and fittings |
20% straight line basis |
Page 6 |
ATB Money Matters Limited
Notes to the Financial Statements for the Year Ended 31 January 2017
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
No amortisation has been provided on intangible assets so as to write off the cost, as the directors consider that the current value of the goodwill is more than the value shown:
Asset class |
Amortisation method and rate |
Positive goodwill |
0% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 7 |
ATB Money Matters Limited
Notes to the Financial Statements for the Year Ended 31 January 2017
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 February 2016 |
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At 31 January 2017 |
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Amortisation |
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Carrying amount |
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At 31 January 2017 |
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At 31 January 2016 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2016 - £Nil).
Page 8 |
ATB Money Matters Limited
Notes to the Financial Statements for the Year Ended 31 January 2017
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 February 2016 |
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At 31 January 2017 |
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Depreciation |
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At 1 February 2016 |
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At 31 January 2017 |
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Carrying amount |
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At 31 January 2017 |
- |
- |
Stocks |
2017 |
2016 |
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Work in progress |
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Debtors |
2017 |
2016 |
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Trade debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Page 9 |
ATB Money Matters Limited
Notes to the Financial Statements for the Year Ended 31 January 2017
Transition to FRS 102 |
Balance Sheet at 1 February 2015
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Fixed assets |
|||||
Intangible assets |
50,000 |
- |
- |
50,000 |
|
Tangible assets |
192 |
- |
- |
192 |
|
50,192 |
- |
- |
50,192 |
||
Current assets |
|||||
Stocks |
5,315 |
- |
- |
5,315 |
|
Debtors |
24,158 |
- |
- |
24,158 |
|
Cash at bank and in hand |
676 |
- |
- |
676 |
|
30,149 |
- |
- |
30,149 |
||
Creditors: Amounts falling due within one year |
(76,693) |
- |
- |
(76,693) |
|
Net current liabilities |
(46,544) |
- |
- |
(46,544) |
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Net assets |
3,648 |
- |
- |
3,648 |
|
Capital and reserves |
|||||
Called up share capital |
(110) |
- |
- |
(110) |
|
Profit and loss account |
(3,538) |
- |
- |
(3,538) |
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Total equity |
(3,648) |
- |
- |
(3,648) |
Page 10 |
ATB Money Matters Limited
Notes to the Financial Statements for the Year Ended 31 January 2017
Balance Sheet at 31 January 2016
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Fixed assets |
|||||
Intangible assets |
50,000 |
- |
- |
50,000 |
|
Current assets |
|||||
Stocks |
4,815 |
- |
- |
4,815 |
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Debtors |
27,515 |
- |
- |
27,515 |
|
Cash at bank and in hand |
1,460 |
- |
- |
1,460 |
|
33,790 |
- |
- |
33,790 |
||
Creditors: Amounts falling due within one year |
(78,976) |
- |
- |
(78,976) |
|
Net current liabilities |
(45,186) |
- |
- |
(45,186) |
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Net assets |
4,814 |
- |
- |
4,814 |
|
Capital and reserves |
|||||
Called up share capital |
(110) |
- |
- |
(110) |
|
Profit and loss account |
(4,704) |
- |
- |
(4,704) |
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Total equity |
(4,814) |
- |
- |
(4,814) |
Page 11 |
ATB Money Matters Limited
Notes to the Financial Statements for the Year Ended 31 January 2017
Profit and Loss Account for the year ended 31 January 2016
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Turnover |
108,048 |
- |
- |
108,048 |
|
Cost of sales |
(83,687) |
- |
- |
(83,687) |
|
Gross profit |
24,361 |
- |
- |
24,361 |
|
Administrative expenses |
(25,246) |
- |
- |
(25,246) |
|
Other operating income |
2,383 |
- |
- |
2,383 |
|
Operating profit |
1,498 |
- |
- |
1,498 |
|
Other interest receivable and similar income |
8 |
- |
- |
8 |
|
8 |
- |
- |
8 |
||
Profit before tax |
1,506 |
- |
- |
1,506 |
|
Taxation |
(340) |
- |
- |
(340) |
|
Profit for the financial year |
1,166 |
- |
- |
1,166 |
Page 12 |