SERVICES FAMILY LTD
SERVICES FAMILY LTD
Registered number: 09079706
Unaudited Financial Statements
For The Year Ended 30 June 2019
Brooks & Partners Accountants Ltd
SERVICES FAMILY LTD
Unaudited Financial Statements
For The Year Ended 30 June 2019
Unaudited Financial Statements
| Contents | |
| Page | |
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| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—6 |
SERVICES FAMILY LTD
Statement of Financial Position
As at
30 June 2019
Statement of Financial Position
Registered number:
09079706
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.
| 2019 | 2018 as restated |
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 4 |
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| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Share premium account |
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| Income Statement |
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| SHAREHOLDERS' FUNDS | (118,593) | 21,578 | |||
Page 1
SERVICES FAMILY LTD
Statement of Financial Position (continued)
As at
30 June 2019
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act 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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
SERVICES FAMILY LTD
Notes to the Financial Statements
For The Year Ended 30 June 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes commission received. Commission is recognised on payment.
1.3.
Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are trademarks owned and in the process of development by the company. The cost of these are amortised to the income statement over their estimated economic life of 10 years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Computer Equipment |
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1.5.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 5 (2018: 4)
Page 3
SERVICES FAMILY LTD
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2019
4.
Intangible Assets
| Intellectual Property | |||
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| £ | |||
| Cost | |||
| As at |
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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5.
Tangible Assets
| Computer Equipment | |
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| Cost | |
| As at |
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| Additions |
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| As at |
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| Depreciation | |
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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Page 4
SERVICES FAMILY LTD
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2019
6.
Debtors
| 2019 | 2018 as restated |
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| VAT | - |
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7.
Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 as restated |
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| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
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| VAT |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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| Amounts owed to related parties |
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9.
Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £732 (2018: Nil) were due to the fund. They are included in Other Creditors.
Page 5
SERVICES FAMILY LTD
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2019
10.
Related Party Transactions
Included in creditors are loans of £51,908 (2018: £50,000) from two directors serving in the year.
Interest charged at 3% per annum.
These loans are unsecured and repayable on demand.
At the year end the company owed £51,908 (2018: £50,000) to companies owned and operated by two of the directors.
Interest charged at 3% per annum.
This loan is unsecured and repayable on demand.
During the year £9,000 (2018: Nil) was charged to the company for consultancy services provided by Mr C Butcher.
11.
General Information
SERVICES FAMILY LTD is a private company, limited by shares, incorporated in England & Wales, registered number 09079706 . The registered office is 22 St Peter's Street, Stamford, Lincolnshire, PE9 2PF.
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