Registration number:
Assura Protect Limited
for the Year Ended 30 June 2019
Chartered Accountants
First Floor
Spitalfields House
Stirling Way
Borehamwood
Herts
WD6 2FX
Assura Protect Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Assura Protect Limited
Company Information
Directors |
C J Donley A Enciu |
Registered office |
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Accountants |
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Page 1 |
Assura Protect Limited
(Registration number: 08403633)
Balance Sheet as at 30 June 2019
Note |
2019 |
2018 |
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Fixed assets |
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Intangible 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 liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
|
Profit and loss account |
(448,174) |
(368,122) |
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Total equity |
(448,074) |
(368,022) |
For the financial year ending 30 June 2019 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
.........................................
Director
Page 2 |
Assura Protect Limited
Statement of Changes in Equity for the Year Ended 30 June 2019
Share capital |
Profit and loss account |
Total |
|
At 1 July 2018 |
|
( |
( |
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 30 June 2019 |
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( |
( |
Share capital |
Profit and loss account |
Total |
|
At 1 July 2017 |
|
( |
( |
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 30 June 2018 |
|
( |
( |
Page 3 |
Assura Protect Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The company changed its name from CJTD Investments Limited to Assura Protect Limited in January 2018.
The address of its registered office is:
The principal place of business is:
86 Gloucester Place
London
W1U 6HP
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.
Going concern
The company's financial statement at 30 June 2019 is showing a net liabilities of £448,074. The financial statements have been prepared on a going concern basis, the applicability of which is dependent upon the continued financial support of the company's directors.
Page 4 |
Assura Protect Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2019
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. |
The estimates and underlying assumptions are review on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
Judgements in respect of recognition of revenue has had the most significant effects on amounts recognized in the financial statements. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, 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.
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 |
33.3% per annum straight line basis |
Goodwill
Goodwill arising on the acquisition relates to the purchase of client bank data to provide a complete insurance brokerage and wealth management services. 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 of 5 years.
Page 5 |
Assura Protect Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2019
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.
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 6 |
Assura Protect Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2019
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 July 2018 |
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At 30 June 2019 |
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Amortisation |
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At 1 July 2018 |
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Amortisation charge |
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At 30 June 2019 |
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Carrying amount |
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At 30 June 2019 |
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At 30 June 2018 |
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Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 July 2018 |
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At 30 June 2019 |
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Depreciation |
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At 1 July 2018 |
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Charge for the year |
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At 30 June 2019 |
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Carrying amount |
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At 30 June 2019 |
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At 30 June 2018 |
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Page 7 |
Assura Protect Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2019
Debtors |
2019 |
2018 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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Ordinary share of £1 each |
100 |
100 |
100 |
100 |
Page 8 |