SBB Business Advisory Services Limited Company accounts

SBB Business Advisory Services Limited Company accounts

SBB BUSINESS ADVISORY SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10257928
SBB Business Advisory Services Limited
Unaudited Financial Statements
30 June 2019
SBB Business Advisory Services Limited
Financial Statements
Year ended 30 June 2019
Contents
Page
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
SBB Business Advisory Services Limited
Directors' Report
Year ended 30 June 2019
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2019 .
Directors
The directors who served the company during the year were as follows:
S Buckley
B F Buckley
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 16 December 2019 and signed on behalf of the board by:
S Buckley
Director
Registered office:
2 Castle Business Village
Station Road
Hampton
Middlesex
TW12 2BX
SBB Business Advisory Services Limited
Statement of Income and Retained Earnings
Year ended 30 June 2019
2019
2018
Note
£
£
Turnover
68,747
73,210
--------
--------
Gross profit
68,747
73,210
Administrative expenses
51,481
73,867
--------
--------
Operating profit/(loss)
17,266
( 657)
Other interest receivable and similar income
4
3
--------
--------
Profit/(loss) before taxation
5
17,270
( 654)
Tax on profit/(loss)
3,539
218
--------
----
Profit/(loss) for the financial year and total comprehensive income
13,731
( 872)
--------
----
Dividends paid and payable
–
( 10,000)
Retained earnings at the start of the year
7,062
17,934
--------
--------
Retained earnings at the end of the year
20,793
7,062
--------
--------
All the activities of the company are from continuing operations.
SBB Business Advisory Services Limited
Statement of Financial Position
30 June 2019
2019
2018
Note
£
£
Fixed assets
Tangible assets
6
877
1,256
Current assets
Debtors
7
6,651
5,951
Cash at bank and in hand
25,177
14,641
--------
--------
31,828
20,592
Creditors: amounts falling due within one year
8
11,910
14,784
--------
--------
Net current assets
19,918
5,808
--------
-------
Total assets less current liabilities
20,795
7,064
--------
-------
Net assets
20,795
7,064
--------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
20,793
7,062
--------
-------
Shareholders funds
20,795
7,064
--------
-------
These financial statements have been prepared 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'.
For the year ending 30 June 2019 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 were approved by the board of directors and authorised for issue on 16 December 2019 , and are signed on behalf of the board by:
S Buckley
Director
Company registration number: 10257928
SBB Business Advisory Services Limited
Notes to the Financial Statements
Year ended 30 June 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 2 Castle Business Village, Station Road, Hampton, Middlesex, TW12 2BX.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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
-
20% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2018: 1 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2019
2018
£
£
Depreciation of tangible assets
379
379
----
----
6. Tangible assets
Equipment
£
Cost
At 1 July 2018 and 30 June 2019
1,894
-------
Depreciation
At 1 July 2018
638
Charge for the year
379
-------
At 30 June 2019
1,017
-------
Carrying amount
At 30 June 2019
877
-------
At 30 June 2018
1,256
-------
7. Debtors
2019
2018
£
£
Trade debtors
5,000
5,250
Other debtors
1,651
701
-------
-------
6,651
5,951
-------
-------
8. Creditors: amounts falling due within one year
2019
2018
£
£
Corporation tax
3,540
218
Social security and other taxes
323
1,171
Other creditors
8,047
13,395
--------
--------
11,910
14,784
--------
--------