Sewing Online Limited - Accounts to registrar (filleted) - small 18.2
Sewing Online Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
REPORT OF THE DIRECTOR AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018 |
FOR |
SEWING ONLINE LIMITED |
SEWING ONLINE LIMITED (REGISTERED NUMBER: 05129717) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
SEWING ONLINE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants and Chartered Tax Advisers |
Basing House |
46 High Street |
Rickmansworth |
Hertfordshire |
WD3 1HP |
SEWING ONLINE LIMITED (REGISTERED NUMBER: 05129717) |
REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
The director presents her report with the financial statements of the company for the year ended 30 November 2018. |
DIRECTOR |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
ON BEHALF OF THE BOARD: |
SEWING ONLINE LIMITED (REGISTERED NUMBER: 05129717) |
BALANCE SHEET |
30 NOVEMBER 2018 |
30.11.18 | 30.11.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
SEWING ONLINE LIMITED (REGISTERED NUMBER: 05129717) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
1. | STATUTORY INFORMATION |
Sewing Online Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the net invoiced sale of goods and services. Turnover is recognised as goods and services |
are provided. |
Tangible fixed assets |
Computer equipment | - |
SEWING ONLINE LIMITED (REGISTERED NUMBER: 05129717) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of |
its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the |
contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there |
is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis |
or to realised the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction |
price including transaction costs and are subsequently carried at amortised costs using the effective interest |
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the |
present value of the future receipts discounted at a market rate of interest. Financial assets classified as |
receivable within one year are not amortised. |
Impairment of financial assets |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each |
balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash |
generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its |
recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued |
amount where the impairment loss is a revaluation decrease. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are |
settled, or when the company transfers the financial asset and substantially all the risks and rewards of |
ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the |
asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets |
of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless |
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value |
of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within |
one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year |
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction |
price and subsequently measured at amortised cost using the effective interest method. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Cash & cash equivalent |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and |
other short-term highly liquid investments that mature in no more than three months from the date of acquisition |
and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SEWING ONLINE LIMITED (REGISTERED NUMBER: 05129717) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2017 |
Additions |
At 30 November 2018 |
DEPRECIATION |
At 1 December 2017 |
Charge for year |
At 30 November 2018 |
NET BOOK VALUE |
At 30 November 2018 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.18 | 30.11.17 |
£ | £ |
Taxation and social security |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
During the year, dividends of £16,700 (2017: £11,000) were paid to the director and shareholders. |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SEWING ONLINE LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and |
the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Sewing Online Limited for the year ended 30 November 2018 which comprise the Income |
Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting |
records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Sewing Online Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sewing Online Limited and state those matters that we have agreed to state to the director of Sewing Online Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sewing Online Limited and its director for our work or for this report. |
It is your duty to ensure that Sewing Online Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sewing Online Limited. You consider that Sewing Online Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Sewing Online Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants and Chartered Tax Advisers |
Basing House |
46 High Street |
Rickmansworth |
Hertfordshire |
WD3 1HP |