Accura Accountants Limited - Accounts to registrar (filleted) - small 18.2

Accura Accountants Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 07644572 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2017 TO 28 FEBRUARY 2019

FOR

ACCURA ACCOUNTANTS LIMITED

ACCURA ACCOUNTANTS LIMITED (REGISTERED NUMBER: 07644572)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 September 2017 to 28 February 2019




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ACCURA ACCOUNTANTS LIMITED

COMPANY INFORMATION
for the Period 1 September 2017 to 28 February 2019







DIRECTORS: A.S. Bradstock
B M Leighton
S Patel
Miss R J Boorman
G A Chajet





REGISTERED OFFICE: Langley House
Park Road
London
N2 8EY





REGISTERED NUMBER: 07644572 (England and Wales)






ACCURA ACCOUNTANTS LIMITED (REGISTERED NUMBER: 07644572)

STATEMENT OF FINANCIAL POSITION
28 February 2019

28.2.19 31.8.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 436,500 465,600
Tangible assets 5 31,199 37,701
467,699 503,301

CURRENT ASSETS
Stocks 415,000 467,500
Debtors 6 727,218 826,449
Cash at bank 2,229 130
1,144,447 1,294,079
CREDITORS
Amounts falling due within one year 7 813,810 847,875
NET CURRENT ASSETS 330,637 446,204
TOTAL ASSETS LESS CURRENT
LIABILITIES

798,336

949,505

CREDITORS
Amounts falling due after more than one
year

8

(218,274

)

(483,806

)

PROVISIONS FOR LIABILITIES (1,638 ) (1,418 )
NET ASSETS 578,424 464,281

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 576,424 462,281
578,424 464,281

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ACCURA ACCOUNTANTS LIMITED (REGISTERED NUMBER: 07644572)

STATEMENT OF FINANCIAL POSITION - continued
28 February 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 28 October 2019 and were signed on its behalf by:





A.S. Bradstock - Director


ACCURA ACCOUNTANTS LIMITED (REGISTERED NUMBER: 07644572)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 September 2017 to 28 February 2019

1. STATUTORY INFORMATION

Accura Accountants Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised once the
service has been provided

Under FRS 102 Section 1A, revenue is required to be recognised from tea provision of services on tea
completion method where is can be measured reliably. Therefore the work in progress figure represents
recoverable unbilled work that has been recognised within the profit and loss account.


Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to
related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other
accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently
amortised cost using the effective interest method. Debt instruments that are payable or receivable within one
year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount
of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for
objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised
in the Statement of Comprehensive Income.


ACCURA ACCOUNTANTS LIMITED (REGISTERED NUMBER: 07644572)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 September 2017 to 28 February 2019

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and
Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or
directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

Impairment of assets
A review of 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 reversals at each reporting date.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are
required to be recognised as part of the cost of stock or fixed assets.

The cost of any material unused holiday entitlement is recognised in the period in which the employee's services
are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to
terminate the employment or to provide termination benefits


3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 29 (2017 - 30 ) .

ACCURA ACCOUNTANTS LIMITED (REGISTERED NUMBER: 07644572)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 September 2017 to 28 February 2019

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2017
and 28 February 2019 2,532,000
AMORTISATION
At 1 September 2017 2,066,400
Charge for period 29,100
At 28 February 2019 2,095,500
NET BOOK VALUE
At 28 February 2019 436,500
At 31 August 2017 465,600

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2017 123,874
Additions 19,583
At 28 February 2019 143,457
DEPRECIATION
At 1 September 2017 86,173
Charge for period 26,085
At 28 February 2019 112,258
NET BOOK VALUE
At 28 February 2019 31,199
At 31 August 2017 37,701

ACCURA ACCOUNTANTS LIMITED (REGISTERED NUMBER: 07644572)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 September 2017 to 28 February 2019

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2017
and 28 February 2019 25,240
DEPRECIATION
At 1 September 2017 6,310
Charge for period 7,099
At 28 February 2019 13,409
NET BOOK VALUE
At 28 February 2019 11,831
At 31 August 2017 18,930

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.19 31.8.17
£    £   
Trade debtors 697,716 821,384
Other debtors 29,502 5,065
727,218 826,449

Included within other debtors are prepayments of £22,583 (31 August 2017: £5,065)

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.19 31.8.17
£    £   
Bank loans and overdrafts 219,655 159,388
Hire purchase contracts 6,000 3,600
Trade creditors 120,681 37,064
Taxation and social security 299,732 340,289
Other creditors 167,742 307,534
813,810 847,875

Included within other creditors are accrued expenses of £48,308 (31 August 2017: £30,772)

ACCURA ACCOUNTANTS LIMITED (REGISTERED NUMBER: 07644572)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 September 2017 to 28 February 2019

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.19 31.8.17
£    £   
Bank loans - 37,403
Hire purchase contracts 15,642 18,129
Other creditors 202,632 428,274
218,274 483,806

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.19 31.8.17
£    £   
Bank overdrafts 92,881 102,832
Bank loans 126,774 93,959
Hire purchase contracts 21,642 21,729
Funding Circle 112,102 158,533
353,399 377,053

Bank loans are secured by way of fixed and floating charges over all undertakings and all property and assets of
the company.

The liability in respect of the hire purchase agreement are secured against the assets to which they relate.

The loan from Funding Circle is secured by way of personal guarantee on the directors, B M Leighton and A S
Bradstock.

10. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £8,049 .

11. RELATED PARTY DISCLOSURES

During the period, total dividends of £15,000 (2017 - £25,000) were paid to the directors .

Included in other creditors due within one year is £44,265 (31 August 2017: £66,000), £3,200 (31 August 2017:
£5,000) and £2,500 (31 August 2017: £5,000) due to directors and shareholders, A S Bradstock, S Patel and R
Boorman respectively.