The History Quill Ltd
The History Quill Ltd
Registered number: 12025890
Financial Statements
For the Period 28 June 2019 to 31 May 2020
The History Quill Ltd
Financial Statements
For the Period 28 June 2019 to 31 May 2020
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
The History Quill Ltd
Balance Sheet
As at
31 May 2020
Balance Sheet
Registered number:
12025890
For the period ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 31 May 2020 | |||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Intangible Assets | 3 |
|
|
|
|
|||
| CURRENT ASSETS | |||
| Debtors | 4 |
|
|
| Cash at bank and in hand |
|
||
|
|
|||
| Creditors: Amounts Falling Due Within One Year | 5 |
( |
|
| NET CURRENT ASSETS (LIABILITIES) |
( |
||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
||
| NET ASSETS |
|
||
| CAPITAL AND RESERVES | |||
| Called up share capital | 6 |
|
|
| Profit and Loss Account |
|
||
| SHAREHOLDERS' FUNDS | 118 | ||
Page 1
The History Quill Ltd
Balance Sheet (continued)
As at
31 May 2020
Director's responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 5 form part of these financial statements.
Page 2
The History Quill Ltd
Notes to the Financial Statements
For the Period 28 June 2019 to 31 May 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
These financial statements are presented in Sterling (£) and have been 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, for the provision of editing and coaching services. Turnover is reduced for estimated rebates and other similar allowances.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
1.4.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.5.
Taxation
The tax expense for the year represents the sum of the tax currently payable, and is based on the taxable profit for the year. Taxable profit differs from profit as reported in the statement of profit and loss because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
1.6.
Cash and cash equivalents
Cash and cash equivalents comprise cash in 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.
1.7.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
1.8.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.
Average Number of Employees
During the period the average number of employees, excluding directors without an employment contract, was NIL
Page 3
The History Quill Ltd
Notes to the Financial Statements (continued)
For the Period 28 June 2019 to 31 May 2020
3.
Intangible Assets
| Goodwill | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at |
|
||
| Additions |
|
||
| As at |
|
||
| Amortisation | |||
| As at |
|
||
| Provided during the period |
|
||
| As at |
|
||
| Net Book Value | |||
| As at |
|
||
| As at |
|
||
4.
Debtors
| 31 May 2020 | |
|---|---|
| £ | |
| Due within one year | |
| Prepayments and accrued income |
|
|
|
|
5.
Creditors: Amounts Falling Due Within One Year
| 31 May 2020 | |
|---|---|
| £ | |
| Trade creditors |
|
| Corporation tax |
|
| Other taxes and social security |
|
| Deferred income |
|
| Accruals |
|
| Director's loan account |
|
|
|
|
Page 4
The History Quill Ltd
Notes to the Financial Statements (continued)
For the Period 28 June 2019 to 31 May 2020
7.
Related Party Transactions
The director has provided the company with an interest-free loan, which is repayable on demand. At the balance sheet date the amount due to the director was £12,090.
8.
General Information
The History Quill Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12025890 . The registered office is 13 Howard Road, Dorking, RH4 3HR.
Page 5