Alpha Wolf Consulting Limited
Annual Report and Unaudited Financial Statements
For the year ended 31 March 2017
PAGES FOR FILING WITH REGISTRAR
Company Registration No. 07974866 (England and Wales)
Alpha Wolf Consulting Limited
Company Information
Director
Mr G.A. Watkins
Company number
07974866
Registered office
5 Reed Close
London
SE12 8UD
Accountants
Kingston Smith LLP
Devonshire House
60 Goswell Road
London
United Kingdom
EC1M 7AD
Alpha Wolf Consulting Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Alpha Wolf Consulting Limited
Balance Sheet
As at 31 March 2017
Page 1
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,040
3,739
Current assets
Cash at bank and in hand
21,837
7,308
Creditors: amounts falling due within one year
4
(9,544)
(9,840)
Net current assets/(liabilities)
12,293
(2,532)
Total assets less current liabilities
15,333
1,207
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
15,233
1,107
Total equity
15,333
1,207
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 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 12 December 2017
Mr G.A. Watkins
Director
Company Registration No. 07974866
Alpha Wolf Consulting Limited
Notes to the Financial Statements
For the year ended 31 March 2017
Page 2
1
Accounting policies
Company information
Alpha Wolf Consulting Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
5 Reed Close, London, SE12 8UD.
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 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 pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 March 2017 are the first financial statements of Alpha Wolf Consulting Limited prepared in accordance with Section 1A of FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2015. The reported financial position and financial performance for the previous period are not affected by transition to FRS 102.
1.2
Turnover
Turnover
represents fees receivable for the provision of consultancy services net of VAT and trade discounts.
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:
Fixtures, fittings & equipment
25% straight line
Computer equipment
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Impairment of fixed assets
At each reporting end date, the
company
reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Alpha Wolf Consulting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2017
1
Accounting policies
(Continued)
Page 3
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.5
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
Basic financial instruments are measured at cost. The company has no other financial instruments or basic financial instruments measured at fair value.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2017
2016
Number
Number
Total
-
1
Alpha Wolf Consulting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2017
Page 4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2016
8,528
Additions
921
At 31 March 2017
9,449
Depreciation and impairment
At 1 April 2016
4,789
Depreciation charged in the year
1,620
At 31 March 2017
6,409
Carrying amount
At 31 March 2017
3,040
At 31 March 2016
3,739
4
Creditors: amounts falling due within one year
2017
2016
£
£
Corporation tax
3,819
4,712
Other creditors
5,725
5,128
9,544
9,840
5
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary shares of 1p each
100
100
6
Related party transactions
During the year, the director Mr G. A. Watkins, personally paid business expenses on behalf of the company totalling £ 3,854 (2016: £4,307) and received dividends of £nil (2016: £35,000). At the year end the company owed £3,325 (2016: £328) to the director.
7
Control
The company is under the control of the sole director, Mr G. A. Watkins.