false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2016-08-01
Sage Accounts Production Advanced 2017 Update 3 - FRS
200,000
80,000
40,000
120,000
80,000
120,000
xbrli:pure
xbrli:shares
iso4217:GBP
09115286
2016-08-01
2017-07-31
09115286
2017-07-31
09115286
2016-07-31
09115286
2015-08-01
2016-07-31
09115286
2016-07-31
09115286
core:NetGoodwill
2016-08-01
2017-07-31
09115286
bus:RegisteredOffice
2016-08-01
2017-07-31
09115286
bus:LeadAgentIfApplicable
2016-08-01
2017-07-31
09115286
bus:Director1
2016-08-01
2017-07-31
09115286
core:NetGoodwill
2016-07-31
09115286
core:NetGoodwill
2017-07-31
09115286
core:WithinOneYear
2017-07-31
09115286
core:WithinOneYear
2016-07-31
09115286
core:UKTax
2016-08-01
2017-07-31
09115286
core:UKTax
2015-08-01
2016-07-31
09115286
core:ShareCapital
2017-07-31
09115286
core:ShareCapital
2016-07-31
09115286
core:RetainedEarningsAccumulatedLosses
2017-07-31
09115286
core:RetainedEarningsAccumulatedLosses
2016-07-31
09115286
core:NetGoodwill
2016-07-31
09115286
bus:FRS102
2016-08-01
2017-07-31
09115286
bus:AuditExemptWithAccountantsReport
2016-08-01
2017-07-31
09115286
bus:FullAccounts
2016-08-01
2017-07-31
09115286
bus:SmallCompaniesRegimeForAccounts
2016-08-01
2017-07-31
09115286
bus:PrivateLimitedCompanyLtd
2016-08-01
2017-07-31
09115286
core:KeyManagementIndividualGroup1
2016-08-01
2017-07-31
09115286
core:KeyManagementIndividualGroup1
2017-07-31
09115286
core:OtherRelatedParties
2016-08-01
2017-07-31
09115286
core:OtherRelatedParties
2017-07-31
COMPANY REGISTRATION NUMBER:
09115286
UNAUDITED FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 JULY 2017
Officers and professional advisers
|
1
|
|
|
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
|
2
|
|
|
Statement of financial position
|
3 to 4
|
|
|
Notes to the financial statements
|
5 to 8
|
|
|
OFFICERS AND PROFESSIONAL ADVISERS
|
|
Registered office
|
Barrow House
|
|
26 Barrow Street
|
|
St Helens
|
|
Merseyside
|
|
England
|
|
WA10 1RX
|
|
|
Accountants
|
ERC Accountants & Business Advisers Limited
|
|
Chartered accountant
|
|
Hanover Buildings
|
|
11-13 Hanover Street
|
|
Liverpool
|
|
L1 3DN
|
|
|
CHARTERED ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
STEVEN N CROOK LIMITED
|
|
YEAR ENDED 31 JULY 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Steven N Crook Limited for the year ended 31 July 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Steven N Crook Limited in accordance with the terms of our engagement letter dated 21 June 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Steven N Crook Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Steven N Crook Limited and its director for our work or for this report.
It is your duty to ensure that Steven N Crook Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Steven N Crook Limited. You consider that Steven N Crook 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 financial statements of Steven N Crook 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 financial statements.
ERC Accountants & Business Advisers Limited
Chartered accountant
Hanover Buildings
11-13 Hanover Street
Liverpool
L1 3DN
23 May 2018
STATEMENT OF FINANCIAL POSITION
|
|
31 July 2017
FIXED ASSETS
Intangible assets
|
5
|
|
80,000
|
120,000
|
|
|
|
|
|
CURRENT ASSETS
Debtors
|
6
|
190,521
|
|
257,160
|
Cash at bank and in hand
|
5,912
|
|
60,283
|
|
----------
|
|
----------
|
|
196,433
|
|
317,443
|
|
|
|
|
|
CREDITORS: Amounts falling due within one year
|
7
|
415,947
|
|
476,965
|
|
----------
|
|
----------
|
NET CURRENT LIABILITIES
|
|
219,514
|
159,522
|
|
|
----------
|
----------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
(
139,514)
|
(
39,522)
|
|
|
|
|
|
PROVISIONS
Taxation including deferred tax
|
|
(
3,708)
|
–
|
|
|
----------
|
---------
|
NET LIABILITIES
|
|
(
135,806)
|
(
39,522)
|
|
|
----------
|
---------
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital
|
|
1
|
1
|
Profit and loss account
|
|
(
135,807)
|
(
39,523)
|
|
|
----------
|
---------
|
SHAREHOLDERS DEFICIT
|
|
(
135,806)
|
(
39,522)
|
|
|
----------
|
---------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 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
.
STATEMENT OF FINANCIAL POSITION (continued)
|
|
31 July 2017
These financial statements were approved by the
board of directors
and authorised for issue on
23 May 2018
, and are signed on behalf of the board by:
Company registration number:
09115286
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 JULY 2017
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Barrow House, 26 Barrow Street, St Helens, Merseyside, WA10 1RX, England.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis, despite the fact that liabilities exceed assets. The director has agreed not to seek repayment of his loan until the company has sufficient funds to do so. He therefore considers that it is appropriate to prepare the accounts on the going concern basis.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill
|
-
|
20% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
TAX ON (LOSS)/PROFIT
Major components of tax (income)/expense
Current tax:
UK current tax expense
|
–
|
10,119
|
Adjustments in respect of prior periods
|
(
10,119)
|
–
|
|
---------
|
---------
|
Total current tax
|
(
10,119)
|
10,119
|
|
---------
|
---------
|
|
|
|
Deferred tax:
Origination and reversal of timing differences
|
(
3,708)
|
–
|
|
---------
|
---------
|
Tax on (loss)/profit
|
(
13,827)
|
10,119
|
|
---------
|
---------
|
|
|
|
5.
INTANGIBLE ASSETS
Cost
|
|
At 1 August 2016 and 31 July 2017
|
200,000
|
|
----------
|
Amortisation
|
|
At 1 August 2016
|
80,000
|
Charge for the year
|
40,000
|
|
----------
|
At 31 July 2017
|
120,000
|
|
----------
|
Carrying amount
|
|
At 31 July 2017
|
80,000
|
|
----------
|
At 31 July 2016
|
120,000
|
|
----------
|
|
|
6.
DEBTORS
Other debtors
|
190,521
|
257,160
|
|
----------
|
----------
|
|
|
|
7.
CREDITORS:
Amounts falling due within one year
Trade creditors
|
85
|
–
|
Corporation tax
|
–
|
10,119
|
Other creditors
|
415,862
|
466,846
|
|
----------
|
----------
|
|
415,947
|
476,965
|
|
----------
|
----------
|
|
|
|
8.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
No director received advances, credits or guarantees during the current or previous accounting periods.
9.
RELATED PARTY TRANSACTIONS
The following related party transactions were undertaken during the year:
A director and shareholder
withdrew £87,203 and introduced £36,159
(2016: withdrew £4,000 and introduced £5,505). At the balance sheet date the amount payable was £ 414,602
(2016: £465,646). A partnership considered a related party by virtue of the company's 25% interest
received £24,147, had expenses of £32,224 and had a loss split of £68,681
(2016: transferred £48,000, paid expenses of £5,505 and had a profit split of £51,809). At the balance sheet date, the amount owed to the related party was £ 180,402
(2016: £257,160). No dividends were paid to the directors in respect of their shareholdings. No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
10.
TRANSITION TO FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 August 2015.
No transitional adjustments were required in equity or profit or loss for the year.