Blink Ace Reporting Limited - Period Ending 2019-08-31
Blink Ace Reporting Limited - Period Ending 2019-08-31
Registration number:
Blink Ace Reporting Limited
for the Year Ended 31 August 2019
Accountants
The Station House
15 Station Road
St Ives
Cambridgeshire
PE27 5BH
Blink Ace Reporting Limited
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Blink Ace Reporting Limited
Company Information
Director |
Mr Paul David Warren |
Company secretary |
Sumit (Company Secretary) Limited |
Registered office |
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Accountants |
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Page 1 |
Blink Ace Reporting Limited
Director's Report for the Year Ended 31 August 2019
The director presents his report and the financial statements for the year ended 31 August 2019.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is the provision of consultancy services
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
Mr Paul David Warren
Director
Page 2 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Blink Ace Reporting Limited
for the Year Ended 31 August 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Blink Ace Reporting Limited for the year ended 31 August 2019 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Blink Ace Reporting Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Blink Ace Reporting Limited and state those matters that we have agreed to state to the Board of Directors of Blink Ace Reporting Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blink Ace Reporting Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Blink Ace Reporting Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Blink Ace Reporting Limited. You consider that Blink Ace Reporting Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Blink Ace Reporting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accountants
15 Station Road
St Ives
Cambridgeshire
PE27 5BH
Page 3 |
Blink Ace Reporting Limited
(Registration number: 08658934)
Balance Sheet as at 31 August 2019
Note |
2019 |
2018 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Mr Paul David Warren
Director
Page 4 |
Blink Ace Reporting Limited
Notes to the Financial Statements for the Year Ended 31 August 2019
General information |
The company is a private company limited by share capital, incorporated in UK.
The address of its registered office is:
United Kingdom
The accounts were authorised for issue on the date shown on the Director's report.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 5 |
Blink Ace Reporting Limited
Notes to the Financial Statements for the Year Ended 31 August 2019
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Debtors |
2019 |
2018 |
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Trade debtors |
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Other debtors |
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- |
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Page 6 |
Blink Ace Reporting Limited
Notes to the Financial Statements for the Year Ended 31 August 2019
Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2018 |
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Due within one year |
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Taxation and social security |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Dividends |
2019 |
2018 |
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£ |
£ |
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Interim dividend of £ |
100,000 |
80,000 |
Related party transactions |
Directors' remuneration
The director's remuneration for the year was as follows:
2019 |
2018 |
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Remuneration |
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Contributions paid to money purchase schemes |
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36,009 |
30,272 |
Summary of transactions with other related parties
As at the Balance Sheet date the amount due to P D Warren was £2,327 (2018 - £208).
Page 7 |
Blink Ace Reporting Limited
Notes to the Financial Statements for the Year Ended 31 August 2019
Parent and ultimate parent undertaking |
The ultimate controlling party is
Page 8 |