false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
2016-03-01
Sage Accounts Production Advanced 2017 Update 3 - FRS
525,000
105,000
26,250
131,250
393,750
420,000
xbrli:pure
xbrli:shares
iso4217:GBP
NI059553
2016-03-01
2017-02-28
NI059553
2017-02-28
NI059553
2016-02-29
NI059553
2015-03-01
2016-02-29
NI059553
2016-02-29
NI059553
core:NetGoodwill
2016-03-01
2017-02-28
NI059553
core:FurnitureFittings
2016-03-01
2017-02-28
NI059553
core:MotorVehicles
2016-03-01
2017-02-28
NI059553
bus:RegisteredOffice
2016-03-01
2017-02-28
NI059553
bus:LeadAgentIfApplicable
2016-03-01
2017-02-28
NI059553
bus:Director1
2016-03-01
2017-02-28
NI059553
bus:Director2
2016-03-01
2017-02-28
NI059553
core:NetGoodwill
2016-02-29
NI059553
core:NetGoodwill
2017-02-28
NI059553
core:FurnitureFittings
2016-02-29
NI059553
core:MotorVehicles
2016-02-29
NI059553
core:FurnitureFittings
2017-02-28
NI059553
core:MotorVehicles
2017-02-28
NI059553
core:WithinOneYear
2017-02-28
NI059553
core:WithinOneYear
2016-02-29
NI059553
core:ShareCapital
2017-02-28
NI059553
core:ShareCapital
2016-02-29
NI059553
core:RetainedEarningsAccumulatedLosses
2017-02-28
NI059553
core:RetainedEarningsAccumulatedLosses
2016-02-29
NI059553
core:NetGoodwill
2016-02-29
NI059553
core:FurnitureFittings
2016-02-29
NI059553
bus:FRS102
2016-03-01
2017-02-28
NI059553
bus:AuditExemptWithAccountantsReport
2016-03-01
2017-02-28
NI059553
bus:FullAccounts
2016-03-01
2017-02-28
NI059553
bus:SmallCompaniesRegimeForAccounts
2016-03-01
2017-02-28
NI059553
bus:PrivateLimitedCompanyLtd
2016-03-01
2017-02-28
COMPANY REGISTRATION NUMBER:
NI059553
Aiken Communications Limited (Formerly Aiken PR Limited)
|
|
Filleted Unaudited Financial Statements
|
|
Aiken Communications Limited (Formerly Aiken PR Limited)
|
|
Year ended 28 February 2017
Officers and professional advisers
|
1
|
|
|
Report to the board of directors on the preparation of the unaudited statutory financial statements
|
2
|
|
|
Statement of financial position
|
3
|
|
|
Notes to the financial statements
|
5
|
|
|
Aiken Communications Limited (Formerly Aiken PR Limited)
|
|
Officers and Professional Advisers
|
|
The board of directors
|
Mr G Finnegan
|
|
Mrs C Finnegan
|
|
|
Registered office
|
Aisling House
|
|
50 Stranmillis Embankment
|
|
Belfast
|
|
Antrim
|
|
Northern Ireland
|
|
BT9 5FL
|
|
|
Accountants
|
Maneely Mc Cann
|
|
Chartered accountant
|
|
Aisling House
|
|
50 Stranmillis Embankment
|
|
Belfast
|
|
BT9 5FL
|
|
|
Bankers
|
First Trust
|
|
31-35 High Street
|
|
Belfast
|
|
BT1 2AL
|
|
|
Aiken Communications Limited (Formerly Aiken PR Limited)
|
|
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Aiken Communications Limited (Formerly Aiken PR Limited)
|
|
Year ended 28 February 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 Aiken Communications Limited (Formerly Aiken PR Limited) for the year ended 28 February 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 Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. Our work has been undertaken in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie.
Maneely Mc Cann
Chartered accountant
Aisling House
50 Stranmillis Embankment
Belfast
BT9 5FL
28 November 2017
Aiken Communications Limited (Formerly Aiken PR Limited)
|
|
Statement of Financial Position
|
|
28 February 2017
Fixed assets
Intangible assets
|
5
|
393,750
|
420,000
|
Tangible assets
|
6
|
36,913
|
26,688
|
|
---------
|
---------
|
|
430,663
|
446,688
|
|
|
|
|
Current assets
Debtors
|
7
|
217,116
|
192,008
|
Cash at bank and in hand
|
121,461
|
38,392
|
|
---------
|
---------
|
|
338,577
|
230,400
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
137,545
|
85,767
|
|
---------
|
---------
|
Net current assets
|
201,032
|
144,633
|
|
---------
|
---------
|
Total assets less current liabilities
|
631,695
|
591,321
|
|
---------
|
---------
|
Net assets
|
631,695
|
591,321
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
1,000
|
1,000
|
Profit and loss account
|
630,695
|
590,321
|
|
---------
|
---------
|
Shareholder funds
|
631,695
|
591,321
|
|
---------
|
---------
|
|
|
|
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 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Aiken Communications Limited (Formerly Aiken PR Limited)
|
|
Statement of Financial Position (continued)
|
|
28 February 2017
These financial statements were approved by the
board of directors
and authorised for issue on
28 November 2017
, and are signed on behalf of the board by:
Company registration number:
NI059553
Aiken Communications Limited (Formerly Aiken PR Limited)
|
|
Notes to the Financial Statements
|
|
Year ended 28 February 2017
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Aisling House, 50 Stranmillis Embankment, Belfast, Antrim, BT9 5FL, Northern Ireland. The business address of the company is 418 Lisburn Road, Belfast, BT9 6GN
.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income 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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings
|
-
|
15% reducing balance
|
|
Motor vehicles
|
-
|
25% straight line
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
16
(2016:
16
).
5.
Intangible assets
|
Goodwill
|
|
£
|
Cost
|
|
At 1 March 2016 and 28 February 2017
|
525,000
|
|
---------
|
Amortisation
|
|
At 1 March 2016
|
105,000
|
Charge for the year
|
26,250
|
|
---------
|
At 28 February 2017
|
131,250
|
|
---------
|
Carrying amount
|
|
At 28 February 2017
|
393,750
|
|
---------
|
At 29 February 2016
|
420,000
|
|
---------
|
|
|
6.
Tangible assets
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 March 2016
|
60,732
|
29,000
|
89,732
|
Additions
|
16,739
|
–
|
16,739
|
|
--------
|
--------
|
---------
|
At 28 February 2017
|
77,471
|
29,000
|
106,471
|
|
--------
|
--------
|
---------
|
Depreciation
|
|
|
|
At 1 March 2016
|
34,044
|
29,000
|
63,044
|
Charge for the year
|
6,514
|
–
|
6,514
|
|
--------
|
--------
|
---------
|
At 28 February 2017
|
40,558
|
29,000
|
69,558
|
|
--------
|
--------
|
---------
|
Carrying amount
|
|
|
|
At 28 February 2017
|
36,913
|
–
|
36,913
|
|
--------
|
--------
|
---------
|
At 29 February 2016
|
26,688
|
–
|
26,688
|
|
--------
|
--------
|
---------
|
|
|
|
|
7.
Debtors
|
2017
|
2016
|
|
£
|
£
|
Trade debtors
|
207,402
|
182,462
|
Other debtors
|
9,714
|
9,546
|
|
---------
|
---------
|
|
217,116
|
192,008
|
|
---------
|
---------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2017
|
2016
|
|
£
|
£
|
Trade creditors
|
50,843
|
31,374
|
Corporation tax
|
54,938
|
28,570
|
Social security and other taxes
|
22,348
|
20,494
|
Other creditors
|
9,416
|
5,329
|
|
---------
|
--------
|
|
137,545
|
85,767
|
|
---------
|
--------
|
|
|
|