Servicepals.Com Limited - Filleted accounts

Servicepals.Com Limited - Filleted accounts

SERVICEPALS.COM LIMITED - Company Information

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Registered number
04545702
Servicepals.Com Limited
Unaudited Filleted Accounts
30 September 2018
Servicepals.Com Limited
Registered number: 04545702
Balance Sheet
as at 30 September 2018
Notes 2018 2017
£ £
Fixed assets
Intangible assets 2 13,333 13,333
Tangible assets 3 3,308 3,308
16,641 16,641
Creditors: amounts falling due within one year 4 (58,553) (58,028)
Net current liabilities (58,553) (58,028)
Net liabilities (41,912) (41,387)
Capital and reserves
Called up share capital 100 100
Profit and loss account (42,012) (41,487)
Shareholders' funds (41,912) (41,387)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit 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 the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jack Knowles
Director
Approved by the board on 16 April 2019
Servicepals.Com Limited
Notes to the Accounts
for the year ended 30 September 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Platform & Software over 10 years
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Intangible fixed assets £
Platform and Software
Cost
At 1 October 2017 48,084
At 30 September 2018 48,084
Amortisation
At 1 October 2017 34,751
At 30 September 2018 34,751
Net book value
At 30 September 2018 13,333
At 30 September 2017 13,333
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
3 Tangible fixed assets
Computer Equipment
£
Cost
At 1 October 2017 77,148
At 30 September 2018 77,148
Depreciation
At 1 October 2017 73,840
At 30 September 2018 73,840
Net book value
At 30 September 2018 3,308
At 30 September 2017 3,308
4 Creditors: amounts falling due within one year 2018 2017
£ £
Bank loans and overdrafts - 1,624
Trade creditors 500 500
Taxation and social security costs - (256)
Other creditors 58,053 56,160
58,553 58,028
5 Other information
Servicepals.Com Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Barn
173 Church Road
Northfield
Birmingham
B31 2LX
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