Company Registration No. 12091594 (England and Wales)
FELLOWSHIP GROUP LTD
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 JULY 2020
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
FELLOWSHIP GROUP LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
FELLOWSHIP GROUP LTD
Company Registration No. 12091594
BALANCE SHEET
AS AT
31 JULY 2020
31 July 2020
- 1 -
2020
Notes
£
£
Current assets
Debtors
3
176
Cash at bank and in hand
6,390
6,566
Creditors: amounts falling due within one year
4
(38,190)
Net current liabilities
(31,624)
Capital and reserves
Called up share capital
5
2
Profit and loss reserves
(31,626)
Total equity
(31,624)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 July 2020 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 for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
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 by the board of directors and authorised for issue on 8 April 2021 and are signed on its behalf by:
D Morris
Director
FELLOWSHIP GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2020
- 2 -
1
Accounting policies
Company information
Fellowship Group Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Old Rectory, Church Street, Weybridge, Surrey, KT13 8DE.
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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention
.
The principal accounting policies adopted are set out below.
1.2
Going concern
The company has made a net loss of £31,626 and has net liabilities of £31,624. Whilst the current COVID-19 pandemic has created uncertainty over the future financial implications to the worldwide economy, the directors have confirmed that they will continue to support the company and are confident that it has adequate resources to continue in operational existence for the foreseeable future and meet its financial obligations. Therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements
true
1.3
Reporting period
The company was incorporated on 8 July 2019 and commenced trading on 1 August 2019. The first accounting period was from the incorporation date to 31 July 2020.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
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.
1.5
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
FELLOWSHIP GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2020
1
Accounting policies
(Continued)
- 3 -
1.6
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
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2020
Number
Total
2
3
Debtors
2020
Amounts falling due within one year:
£
Other debtors
176
4
Creditors: amounts falling due within one year
2020
£
Trade creditors
1,054
Other creditors
37,136
38,190
5
Called up share capital
2020
2020
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
2
2
6
Related party transactions
At the balance sheet date the company owed £14,998 to the directors. This loan is interest free.