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REGISTERED NUMBER:
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MODERN ASSOCIATES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH JUNE 2017 |
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REGISTERED NUMBER:
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MODERN ASSOCIATES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH JUNE 2017 |
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MODERN ASSOCIATES LIMITED (REGISTERED NUMBER: 03760737) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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MODERN ASSOCIATES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
43-45 Devizes Road |
SWINDON |
Wiltshire |
SN1 4BG |
MODERN ASSOCIATES LIMITED (REGISTERED NUMBER: 03760737) |
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STATEMENT OF FINANCIAL POSITION |
30TH JUNE 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 3 |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of
the Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company
as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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MODERN ASSOCIATES LIMITED (REGISTERED NUMBER: 03760737) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2017 |
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1. | STATUTORY INFORMATION |
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Modern Associates Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 30th June 2017 are the first that are prepared in |
accordance with FRS 102 Section 1A. The previous financial statements were prepared in |
accordance with UK GAAP, the date of transition to FRS 102 Section 1A is 1st July 2015. |
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Preparation of consolidated financial statements |
The financial statements contain information about Modern Associates Limited as an individual |
company and do not contain consolidated financial information as the parent of a group. The |
company has taken the option under Section 398 of the Companies Act 2006 not to prepare |
consolidated financial statements. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard |
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose |
related party transactions with wholly owned subsidiaries within the group. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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3. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st July 2016 |
and 30th June 2017 |
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NET BOOK VALUE |
At 30th June 2017 |
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At 30th June 2016 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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5. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £202,813 (2016 - £134,688) were paid to the directors . |