Registered number: 06558606
SERVICING STOP LIMITED
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 NOVEMBER 2016
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SERVICING STOP LIMITED
REGISTERED NUMBER:
06558606
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2016
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Creditors:
amounts falling due within one year
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Total assets less current liabilities
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Shareholders' (deficit)/funds
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act")
and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 November 2016 and of its loss for the period in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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SERVICING STOP LIMITED
ABBREVIATED BALANCE SHEET
(continued)
AS AT
30 NOVEMBER 2016
The abbreviated accounts, which 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, were approved and authorised for issue by the board and were signed on its behalf on
29 September 2017
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
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SERVICING STOP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 NOVEMBER 2016
1.
Accounting Policies
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015)
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At the year end, the Company had made a loss after tax of £392,473 and its liabilities exceeded its assets by £277,395.
At the time of approving, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the forseeable. Thus, the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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Turnover comprises revenue recognised by the company in respect of services supplied during the period, exclusive of Value Added Tax and trade discounts.
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Intangible fixed assets and amortisation
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Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and Loss Account over its estimated economic life.
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Amortisation - 5 year reducing balance
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Rentals under operating leases are charged to the Profit and Loss Account on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.
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The current period is for the 15 months to 30 November 2016 whilst the comparative was for the 12 months to August 2015.
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Page 3
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SERVICING STOP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 NOVEMBER 2016
2.
Intangible fixed assets
3.
Tangible fixed assets
Page 4
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SERVICING STOP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 NOVEMBER 2016
4.
Share capital
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Allotted, called up and fully paid
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102
Ordinary
shares of £
1
each
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98
Ordinary A
shares of £
1
each
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The shares have attached to them full voting, dividend and capital distribution rights.
All shares rank pari passu in all respects.
Page 5
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