Accountancy Services (Cheshire) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07312168 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

ACCOUNTANCY SERVICES (CHESHIRE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H J Smith

A D Smith

REGISTERED OFFICE:

205a Nantwich Road

Crewe

Cheshire

CW2 6DD

REGISTERED NUMBER:

07312168 (England and Wales)

ACCOUNTANTS:

Private Client Services (NW) Limited

205a Nantwich Road

Crewe

Cheshire

CW2 6DD

FIXED ASSETS

Intangible assets

4

131,955

141,400

Tangible assets

5

37,635

39,443

169,590

180,843

CURRENT ASSETS

Stocks

6

65,300

48,630

Debtors

7

34,078

36,792

Cash at bank and in hand

8,375

12,652

107,753

98,074

CREDITORS

Amounts falling due within one year

8

50,292

43,160

NET CURRENT ASSETS

57,461

54,914

TOTAL ASSETS LESS CURRENT LIABILITIES

227,051

235,757

CREDITORS

Amounts falling due after more than one year

9

40,000

40,000

NET ASSETS

187,051

195,757

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

186,951

195,657

SHAREHOLDERS' FUNDS

187,051

195,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 December 2019 and were signed on its behalf by:

H J Smith - Director

1.	STATUTORY INFORMATION

Accountancy Services (Cheshire) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten 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.

Fixtures and fittings

-

10% on cost

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

202,000

Additions

10,755

At 31 March 2019

212,755

AMORTISATION

At 1 April 2018

60,600

Amortisation for year

20,200

At 31 March 2019

80,800

NET BOOK VALUE

At 31 March 2019

131,955

At 31 March 2018

141,400

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2018

14,900

59,523

74,423

Additions

-

2,552

2,552

At 31 March 2019

14,900

62,075

76,975

DEPRECIATION

At 1 April 2018

11,117

23,863

34,980

Charge for year

1,485

2,875

4,360

At 31 March 2019

12,602

26,738

39,340

NET BOOK VALUE

At 31 March 2019

2,298

35,337

37,635

At 31 March 2018

3,783

35,660

39,443

6.

STOCKS

2019

2018

£

£

Stocks

65,300

48,630

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

36,801

39,934

Bad debt provision

(5,740

)

(5,740

)

Prepayments

3,017

2,598

34,078

36,792

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

548

210

Amounts owed to group undertakings

34,634

25,332

Tax

3,806

1,905

Social security and other taxes

227

227

VAT

3,861

4,376

Directors' current accounts

6,103

9,625

Accrued expenses

1,113

1,485

50,292

43,160

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Subordinated Directors Loans

40,000

40,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 April 2018

195,657

Profit for the year

6,294

Dividends

(15,000

)

At 31 March 2019

186,951