Samuels Corporate Limited Filleted accounts for Companies House (small and micro)

SAMUELS CORPORATE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03626791

Samuels Corporate Limited

Filleted Unaudited Financial Statements

30 June 2018

Samuels Corporate Limited

Statement of Financial Position

30 June 2018

	2018		2017
Note	£	£	£

Current assets

Debtors	5	18,546	18,453
Cash at bank and in hand		12,952	11,902
		--------	--------
		31,498	30,355

Creditors: amounts falling due within one year	6	29,685		17,289
		--------		--------
Net current assets			1,813	13,066
			-------	--------
Total assets less current liabilities			1,813	13,066
			-------	--------
Net assets			1,813	13,066
			-------	--------

Capital and reserves

Called up share capital	6	6
Profit and loss account	1,807	13,060
	-------	--------
Shareholders funds	1,813	13,066
	-------	--------

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 comprehensive income has not been delivered.

For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have 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 .

These financial statements were approved by the board of directors and authorised for issue on 28 February 2019 , and are signed on behalf of the board by:

Mr P T Samuels
Director

Company registration number: 03626791

Samuels Corporate Limited

Notes to the Financial Statements

Year ended 30 June 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Broomers House, Saucelands Lane, Shipley, Horsham, West Sussex, RH13 8PS, England.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

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:

	Equipment	-	25% reducing balance

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 3 (2017: 4 ).

5. Debtors

	2018	2017
	£	£
Trade debtors	10,500	14,906
Other debtors	8,046	3,547
	--------	--------
	18,546	18,453
	--------	--------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Social security and other taxes	2,606	15,757
Other creditors	27,079	1,532
	--------	--------
	29,685	17,289
	--------	--------

7. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under the FRSSE.