David Ward-Perkins & Associates Ltd Filleted accounts for Companies House (small and micro)

David Ward-Perkins & Associates Ltd Filleted accounts for Companies House (small and micro)

DAVID WARD-PERKINS & ASSOCIATES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04420847
David Ward-Perkins & Associates Ltd
Filleted Unaudited Financial Statements
30 April 2019
David Ward-Perkins & Associates Ltd
Statement of Financial Position
30 April 2019
2019
2018
Note
£
£
£
Fixed assets
Tangible assets
5
745
994
Current assets
Debtors
6
31,987
31,548
Cash at bank and in hand
692
5,987
--------
--------
32,679
37,535
Creditors: amounts falling due within one year
7
32,633
33,817
--------
--------
Net current assets
46
3,718
----
-------
Total assets less current liabilities
791
4,712
----
-------
Net assets
791
4,712
----
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
789
4,710
----
-------
Shareholders funds
791
4,712
----
-------
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.
For the year ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
David Ward-Perkins & Associates Ltd
Statement of Financial Position (continued)
30 April 2019
These financial statements were approved by the board of directors and authorised for issue on 4 September 2019 , and are signed on behalf of the board by:
Mr D H Ward-Perkins
Director
Company registration number: 04420847
David Ward-Perkins & Associates Ltd
Notes to the Financial Statements
Year ended 30 April 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oakley House, Tetbury Road, Cirencester, Gloucestershire, GL7 1US.
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
The turnover shown in the profit and loss account represents amounts invoiced during the year inclusive of Value Added Tax. This is as a result of the client being registered for VAT under the Flat Rate Scheme.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2018: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 May 2018 and 30 April 2019
2,849
2,849
-------
-------
Depreciation
At 1 May 2018
1,855
1,855
Charge for the year
249
249
-------
-------
At 30 April 2019
2,104
2,104
-------
-------
Carrying amount
At 30 April 2019
745
745
-------
-------
At 30 April 2018
994
994
-------
-------
6. Debtors
2019
2018
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
29,994
29,994
Other debtors
1,993
1,554
--------
--------
31,987
31,548
--------
--------
7. Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
–
469
Social security and other taxes
–
554
Other creditors
32,633
32,794
--------
--------
32,633
33,817
--------
--------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2019
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr D H Ward-Perkins
( 30,404)
197
–
( 30,207)
--------
----
----
--------
2018
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr D H Ward-Perkins
( 20,406)
10,517
( 20,515)
( 30,404)
--------
--------
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