SAW Accounting & Tax Advisory Limited - Accounts

SAW Accounting & Tax Advisory Limited - Accounts

SAW ACCOUNTING & TAX ADVISORY LIMITED - Company Information

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Registered Number: 06605016
England and Wales

 

 

 

SAW ACCOUNTING & TAX ADVISORY LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2018

End date: 31 December 2018

SAW Accounting & Tax Advisory Limited
Contents Page
For the year ended 31 December 2018
Report to the directors on the preparation of the unaudited statutory accounts of SAW Accounting & Tax Advisory Limited for the 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 accounts of SAW Accounting & Tax Advisory Limited for the year ended 31 December 2018 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of SAW Accounting & Tax Advisory Limited, as a body, in accordance with the terms of our engagement letter dated Our work has been undertaken solely to prepare for your approval the accounts of SAW Accounting & Tax Advisory Limited and state those matters that we have agreed to state to the Board of Directors of SAW Accounting & Tax Advisory Limited, 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/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SAW Accounting & Tax Advisory Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SAW Accounting & Tax Advisory Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SAW Accounting & Tax Advisory Limited. You consider that SAW Accounting & Tax Advisory 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 accounts of SAW Accounting & Tax Advisory 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 accounts
31 December 2018



....................................................
SAW Accounting & Tax Advisory Limited
223 Baldwins Lane
Birmingham
B280PZ
30 September 2019
1
 
 		 Notes
 		 2018
£		   2017
£
Fixed assets      
Tangible fixed assets 2 62,663    43,230 
Investments 3 789    0 
63,452    43,230 
Current assets      
Debtors: amounts falling due within one year 100,870    42,404 
Cash at bank and in hand 20,654    60,074 
121,524    102,478 
Creditors: amount falling due within one year (43,235)   (45,294)
Net current assets 78,289    57,184 
 
Total assets less current liabilities 141,741    100,414 
Creditors: amount falling due after more than one year (71,521)   (37,853)
Provisions for liabilities (30)   (30)
Net assets 70,190    62,531 
 

Capital and reserves 		     
Called up share capital 4 100    100 
Profit and loss account 70,090    62,431 
Shareholders funds 70,190    62,531 
 


For the year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. 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
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
Signed on behalf of the board of director


--------------------------------
Rana Jehanzaib Anis
Director

Date approved by the board: 30 September 2019
2
General Information
SAW Accounting & Tax Advisory Limited is a private company, limited by shares, registered in England and Wales, registration number 06605016, registration address 223, Baldwins Lane, Birmingham, B28 0PZ.

The presentation currency is £ sterling
1.

Accounting Policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change
attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. 
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 10% Reducing Balance
Computer Equipment 10% Reducing Balance
2.

Tangible fixed assets

Cost Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 January 2018 16,237    44,545    60,782 
Additions 30,142    23,253    53,395 
Disposals -    (24,300)   (24,300)
At 31 December 2018 46,379    43,498    89,877 
Depreciation
At 01 January 2018 4,821    12,731    17,552 
Charge for year 4,156    5,506    9,662 
On disposals -    -    - 
At 31 December 2018 8,977    18,237    27,214 
Net book values
Closing balance as at 31 December 2018 37,402    25,261    62,663 
Opening balance as at 01 January 2018 11,416    31,814    43,230 


3.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2018 -    - 
Additions 789    789 
Disposals -    - 
At 31 December 2018 789    789 

4.

Share Capital

Allotted
2018
£		   2017
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

3