Annuity Options Limited - Accounts to registrar (filleted) - small 18.2

Annuity Options Limited - Accounts to registrar (filleted) - small 18.2

VICTORIOUS GROUP OF COMPANIES LTD - Company Information

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REGISTERED NUMBER: 07333235 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

FOR

ANNUITY OPTIONS LIMITED
ANNUITY OPTIONS LIMITED (REGISTERED NUMBER: 07333235)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ANNUITY OPTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2020







DIRECTOR: Mr M J Hazledine





REGISTERED OFFICE: 139-141 Watling Street
Gillingham
Kent
ME7 2YY





REGISTERED NUMBER: 07333235 (England and Wales)





ACCOUNTANTS: Stephen Hill Partnership Limited
139-141 Watling Street
Gillingham
Kent
ME7 2YY
Page 1
ANNUITY OPTIONS LIMITED (REGISTERED NUMBER: 07333235)

BALANCE SHEET
31 AUGUST 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 380 -

CURRENT ASSETS
Debtors 5 1,430 1,132
Cash at bank 16,031 3,686
17,461 4,818
CREDITORS
Amounts falling due within one year 6 9,046 3,828
NET CURRENT ASSETS 8,415 990
TOTAL ASSETS LESS CURRENT
LIABILITIES
8,795
990

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8,695 890
SHAREHOLDERS' FUNDS 8,795 990

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 6 October 2020 and were signed by:





Mr M J Hazledine - Director


The notes form part of these financial statements

Page 2
ANNUITY OPTIONS LIMITED (REGISTERED NUMBER: 07333235)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020

1. STATUTORY INFORMATION

Annuity Options 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
and value added tax.

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 - 20% on cost
Computer equipment - 33% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any
accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the
asset to the location and condition necessary for it to be capable of operating in the manner intended by
management.

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if
appropriate, or if there is an indication of significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying value amount and are
recognised in the Income Statement.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans
to related parties.

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.

Page 3 continued...
ANNUITY OPTIONS LIMITED (REGISTERED NUMBER: 07333235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2020

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2019 174 - 174
Additions - 567 567
At 31 August 2020 174 567 741
DEPRECIATION
At 1 September 2019 174 - 174
Charge for year - 187 187
At 31 August 2020 174 187 361
NET BOOK VALUE
At 31 August 2020 - 380 380
At 31 August 2019 - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 1,430 1,132

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Taxation and social security 1,665 -
Other creditors 7,381 3,828
9,046 3,828

Page 4