David Singer Consultants Ltd 31/12/2018 iXBRL

David Singer Consultants Ltd 31/12/2018 iXBRL

DAVID SINGER CONSULTANTS LIMITED - Company Information

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Company registration number: 00580602
David Singer Consultants Ltd
Unaudited filleted financial statements
31 December 2018
David Singer Consultants Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
David Singer Consultants Ltd
Directors and other information
Directors Mr David Singer
Mrs Elizabeth Jane Singer
Secretary Elizabeth Jane Singer
Company number 00580602
Registered office Ardmay House
Broadgate
Wrangle
Boston
PE22 9BJ
Business address Ardmay House
Broadgate
Wrangle
BOSTON
PE22 9BJ
Accountants Lister & Co
75 High Street
Boston
Lincs
PE21 8SX
David Singer Consultants Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of David Singer Consultants Ltd
Year ended 31 December 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of David Singer Consultants Ltd for the year ended 31 December 2018 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of David Singer Consultants Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of David Singer Consultants Ltd and state those matters that we have agreed to state to the board of directors of David Singer Consultants Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than David Singer Consultants Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that David Singer Consultants Ltd 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 David Singer Consultants Ltd. You consider that David Singer Consultants Ltd 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 David Singer Consultants Ltd. 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.
Lister & Co
ACCA
75 High Street
Boston
Lincs
PE21 8SX
23 May 2019
David Singer Consultants Ltd
Statement of financial position
31 December 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 32,552 34,550
_______ _______
32,552 34,550
Current assets
Stocks 88,770 145,039
Cash at bank and in hand 94,355 27,770
_______ _______
183,125 172,809
Creditors: amounts falling due
within one year 6 ( 111,664) ( 91,646)
_______ _______
Net current assets 71,461 81,163
_______ _______
Total assets less current liabilities 104,013 115,713
_______ _______
Net assets 104,013 115,713
_______ _______
Capital and reserves
Called up share capital 7 3,000 3,000
Profit and loss account 101,013 112,713
_______ _______
Shareholders funds 104,013 115,713
_______ _______
For the year ending 31 December 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 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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 May 2019 , and are signed on behalf of the board by:
Mr David Singer Mrs Elizabeth Jane Singer
Director Director
Company registration number: 00580602
David Singer Consultants Ltd
Notes to the financial statements
Year ended 31 December 2018
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Ardmay House, Broadgate, Wrangle, Boston, PE22 9BJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at fair value of the consideration received or receivable. All income is in respect of rental activity and adjusted for cut-off to reflect the accounting period.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Freehold property - 2.5 % straight line
Plant and machinery - 15 % reducing balance
Office equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Work in progress is valued at the lower of cost and net realisable value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2017: 3 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 January 2018 and 31 December 2018 74,159 1,050 416 75,625
_______ _______ _______ _______
Depreciation
At 1 January 2018 40,569 247 259 41,075
Charge for the year 1,854 120 24 1,998
_______ _______ _______ _______
At 31 December 2018 42,423 367 283 43,073
_______ _______ _______ _______
Carrying amount
At 31 December 2018 31,736 683 133 32,552
_______ _______ _______ _______
At 31 December 2017 33,590 803 157 34,550
_______ _______ _______ _______
6. Creditors: amounts falling due within one year
2018 2017
£ £
Accruals and deferred income 960 960
Corporation tax 8 4
Social security and other taxes 1,522 1,770
Director loan accounts 96,799 84,952
Other creditors 12,375 3,960
_______ _______
111,664 91,646
_______ _______
7. Called up share capital
Issued, called up and fully paid
2018 2017
No £ No £
Ordinary shares shares of £ 1.00 each 3,000 3,000 3,000 3,000
_______ _______ _______ _______