COMPANY REGISTRATION NUMBER:
Prior + Partners Limited
for the Year Ended 30 November 2018
Prior + Partners Limited
Contents
Statement of Financial Position |
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Notes to the Financial Statements |
Prior + Partners Limited
(Registration number: 10463462)
Statement of Financial Position as at 30 November 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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- |
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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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Share premium reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 November 2018 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 Statement of Comprehensive Income has been taken.
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Prior + Partners Limited
(Registration number: 10463462)
Statement of Financial Position as at 30 November 2018 (continued)
Approved and authorised by the
Director
Director
Company registration number: :10463462
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Prior + Partners Limited
Notes to the Financial Statements for the Year Ended 30 November 2018
General information |
The company is a private company limited by share capital, incorporated in England.
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.
Key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.
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.
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Prior + Partners Limited
Notes to the Financial Statements for the Year Ended 30 November 2018 (continued)
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Accounting policies (continued) |
Depreciation
Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office Equipment |
33% straight line |
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
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Prior + Partners Limited
Notes to the Financial Statements for the Year Ended 30 November 2018 (continued)
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 December 2017 |
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Additions |
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At 30 November 2018 |
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Depreciation |
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At 1 December 2017 |
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Charge for the year |
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At 30 November 2018 |
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Carrying amount |
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At 30 November 2018 |
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At 30 November 2017 |
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Debtors |
2018 |
2017 |
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Trade debtors |
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Prepayments |
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- |
Other debtors |
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Prior + Partners Limited
Notes to the Financial Statements for the Year Ended 30 November 2018 (continued)
Creditors |
Creditors: amounts falling due within one year
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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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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750 |
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750 |
Allotted, called up and not fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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- |
- |
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200 |
Related party transactions |
No transactions with related parties were undertaken such as are required to be disclosed under FRS102 1A
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