Red Leaf Accountancy Limited FILLETED ACCOUNTS COVER
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Company No. 07740247
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Red Leaf Accountancy Limited DIRECTORS REPORT REGISTRAR
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The Director presents his report and the accounts for the year ended 31 March 2018.
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Principal activities
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Director
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The Director who served at any time during the year was as follows:
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J.P. Kirkup
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Signed on behalf of the board
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J.P. Kirkup
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Director
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31 March 2018
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Red Leaf Accountancy Limited BALANCE SHEET REGISTRAR
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at
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Company No.
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Notes
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2018
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2017
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£
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£
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Fixed assets
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Tangible assets
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3
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Current assets
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Debtors
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4
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Cash at bank and in hand
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Creditors: Amount falling due within one year
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5
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(
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(
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Net current assets
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Total assets less current liabilities
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Creditors: Amounts falling due after more than one year
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6
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(
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(
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Provisions for liabilities
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Deferred taxation
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7
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(
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(
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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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8
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Total equity
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As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
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Approved by the board on 31 March 2018
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And signed on its behalf by:
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J.P. Kirkup
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Director
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Red Leaf Accountancy Limited NOTES TO THE ACCOUNTS REGISTRAR
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for the year ended 31 March 2018
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1
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Accounting policies
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Basis of preparation
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Turnover
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Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. |
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Taxation
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The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. |
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Tangible fixed assets and depreciation
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At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. |
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Furniture, fittings and equipment
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Trade and other debtors
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Trade and other creditors
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Provisions
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Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. |
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2
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Employees
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2018
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2017
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Number
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Number
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The average number of persons employed during the year :
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3
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Tangible fixed assets
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Fixtures, fittings and equipment
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Total
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£
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£
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Cost or revaluation
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At 1 April 2017
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Additions
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Disposals
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(
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(
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At 31 March 2018
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Depreciation
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At 1 April 2017
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Charge for the year
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At 31 March 2018
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Net book values
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At 31 March 2018
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At 31 March 2017
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4
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Debtors
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2018
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2017
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£
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£
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Trade debtors
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Other debtors
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Prepayments and accrued income
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5
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Creditors:
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amounts falling due within one year
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2018
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2017
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£
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£
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Bank loans and overdrafts
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Trade creditors
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Corporation tax
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Other taxes and social security
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Loans from directors
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Accruals and deferred income
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6
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Creditors:
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amounts falling due after more than one year
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2018
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2017
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£
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£
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Bank loans and overdrafts
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Other creditors
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7
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Provisions for liabilities
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Deferred taxation
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Accelerated Capital Allowances, Losses and Other Timing Differences
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Total
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£
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£
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At 1 April 2017
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751
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Charge to the profit and loss account for the period
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(143)
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(
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At 31 March 2018
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608
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2018
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2017
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£
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£
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Accelerated capital allowances
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8
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Reserves
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9
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Advances and credits to directors
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Included within Other debtors are the following loans to directors:
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Director
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Description
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At 1 April 2017
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Advanced
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Repaid
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At 31 March 2018
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£
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£
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£
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£
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10
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Related party disclosures
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Controlling party
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Immediate controlling party
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11
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Additional information
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Its registered number is:
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Its registered office is:
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