Paul Linthwaite Associates Ltd 31/03/2019 iXBRL

Paul Linthwaite Associates Ltd 31/03/2019 iXBRL

PAUL LINTHWAITE ASSOCIATES LTD - Company Information

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Company registration number: 7981766
Paul Linthwaite Associates Ltd
Unaudited filleted financial statements
31 March 2019
Paul Linthwaite Associates Ltd
Statement of financial position
31 March 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 4 870 995
_______ _______
870 995
Current assets
Debtors 23,868 25,130
Cash at bank and in hand 33,114 20,100
_______ _______
56,982 45,230
Creditors: amounts falling due
within one year ( 4,733) ( 3,138)
_______ _______
Net current assets 52,249 42,092
_______ _______
Total assets less current liabilities 53,119 43,087
Provisions for liabilities ( 165) ( 189)
_______ _______
Net assets 52,954 42,898
_______ _______
Capital and reserves
Called up share capital 5 100 100
Profit and loss account 52,854 42,798
_______ _______
Shareholders funds 52,954 42,898
_______ _______
For the year ending 31 March 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 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 comprehensive income has not been delivered.
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:
Mr P.A. Linthwaite
Director
Company registration number: 7981766
Paul Linthwaite Associates Ltd
Notes to the financial statements
Year ended 31 March 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 Belvoir House, 1 Rous Road, Newmarket, Suffolk, CB8 8DH.
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 the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
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:
Plant and machinery - 20 % 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.
4. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 April 2018 2,867 2,867
Additions 92 92
_______ _______
At 31 March 2019 2,959 2,959
_______ _______
Depreciation
At 1 April 2018 1,872 1,872
Charge for the year 217 217
_______ _______
At 31 March 2019 2,089 2,089
_______ _______
Carrying amount
At 31 March 2019 870 870
_______ _______
At 31 March 2018 995 995
_______ _______
5. Called up share capital
Issued, called up and fully paid
2019 2018
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
6. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2019
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr P.A. Linthwaite 8,475 ( 1,071) 7,404
Mrs E.J. Linthwaite 9,995 - 9,995
_______ _______ _______
18,470 ( 1,071) 17,399
_______ _______ _______
2018
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr P.A. Linthwaite 9,042 ( 567) 8,475
Mrs E.J. Linthwaite 9,995 - 9,995
_______ _______ _______
19,037 ( 567) 18,470
_______ _______ _______