Registration number:
Article 36
(A company limited by guarantee)
for the Year Ended 31 December 2018
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG
Article 36
(Registration number: 07755941)
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Article 36
(Registration number: 07755941)
Company Information
Directors |
Mr Jonathan Fell Mr Richard Lloyd Ms Sapna Malik |
Company secretary |
Mr Richard Moyes |
Registered office |
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Bankers |
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Accountants |
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Page 1 |
Article 36
(Registration number: 07755941)
Balance Sheet as at 31 December 2018
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2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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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 assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Income and expenditure surplus |
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For the financial year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors' acknowledge their 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 Income and Expenditure account has been taken.
Approved and authorised by the
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Director
Page 2 |
Article 36
(Registration number: 07755941)
Notes to the Financial Statements for the Year Ended 31 December 2018
General information |
The company is a private company limited by guarantee incorporated in the United Kingdom.
The address of its registered office is:
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.
Income
Income represents amounts chargeable in respect of activities undertaken under grants and other services provided.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in surplus or deficit, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable surplus.
Page 3 |
Article 36
(Registration number: 07755941)
Notes to the Financial Statements for the Year Ended 31 December 2018
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:
Asset class |
Depreciation method and rate |
Office equipment |
25% straight line |
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 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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 4 |
Article 36
(Registration number: 07755941)
Notes to the Financial Statements for the Year Ended 31 December 2018
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 January 2018 |
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At 31 December 2018 |
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Depreciation |
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At 1 January 2018 |
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Charge for the year |
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At 31 December 2018 |
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Carrying amount |
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At 31 December 2018 |
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At 31 December 2017 |
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Debtors |
2018 |
2017 |
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Other debtors |
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Prepayments and accrued income |
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Total current trade and other debtors |
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Page 5 |
Article 36
(Registration number: 07755941)
Notes to the Financial Statements for the Year Ended 31 December 2018
Creditors |
Note |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accrued expenses |
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Corporation tax liability |
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Deferred income |
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Page 6 |