Company Registration No. 02491770 (England and Wales)
PETER STEWART ASSOCIATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
PAGES FOR FILING WITH REGISTRAR
PETER STEWART ASSOCIATES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PETER STEWART ASSOCIATES LIMITED (REGISTERED NUMBER: 02491770)
BALANCE SHEET
AS AT 30 APRIL 2018
30 April 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,004
10,569
Current assets
Debtors
4
23,603
52,044
Cash at bank and in hand
172,000
119,042
195,603
171,086
Creditors: amounts falling due within one year
5
(56,291)
(51,847)
Net current assets
139,312
119,239
Total assets less current liabilities
147,316
129,808
Provisions for liabilities
(1,361)
(2,008)
Net assets
145,955
127,800
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
145,855
127,700
Total equity
145,955
127,800
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 year ended 30 April 2018 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 year 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.
PETER STEWART ASSOCIATES LIMITED (REGISTERED NUMBER: 02491770)
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2018
30 April 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 June 2018 and are signed on its behalf by:
M J Brown
M J T Brennan
Director
Director
PETER STEWART ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
- 3 -
1
Accounting policies
Company information
Peter Stewart Associates Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
5th Floor, 34 Threadneedle Street, London, EC2R 8AY.
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 £
1
.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
10% on cost
Fixtures, fittings & equipment
20% on cost
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 5 (2017 - 6).
PETER STEWART ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
- 4 -
3
Tangible fixed assets
Leasehold improvements
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 May 2017
42,901
120,551
163,452
Additions
-
2,141
2,141
At 30 April 2018
42,901
122,692
165,593
Depreciation and impairment
At 1 May 2017
42,901
109,982
152,883
Depreciation charged in the year
-
4,706
4,706
At 30 April 2018
42,901
114,688
157,589
Carrying amount
At 30 April 2018
-
8,004
8,004
At 30 April 2017
-
10,569
10,569
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
19,231
22,890
Amounts owed by group undertakings
1,548
1,548
Other debtors
2,824
27,606
23,603
52,044
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
4,594
-
Corporation tax
41,684
42,185
Other taxation and social security
471
1,087
Other creditors
9,542
8,575
56,291
51,847
6
Related party transactions
Transactions with related parties
PETER STEWART ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
6
Related party transactions
(Continued)
- 5 -
As at the balance sheet date, the company was owed £1,548
(2017 - £1,548)
from Peter Stewart Associates Investment Research Limited, a fellow group company. This balance is included within other debtors.