UKAF Consultancy Limited 31/01/2020 iXBRL

UKAF CONSULTANCY LIMITED - Company Information

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Company registration number: 09376912

UKAF Consultancy Limited

Unaudited filleted financial statements

31 January 2020

UKAF Consultancy Limited

Contents

Statement of financial position

Notes to the financial statements

UKAF Consultancy Limited

Statement of financial position

31 January 2020

		2020		2019
	Note	£	£	£	£

Current assets
Cash at bank and in hand		55		84
		_______		_______
		55		84
Creditors: amounts falling due
within one year	5	( 51,545)		( 48,435)
		_______		_______
Net current liabilities			( 51,490)		( 48,351)
			_______		_______
Total assets less current liabilities			( 51,490)		( 48,351)

			_______		_______
Net liabilities			( 51,490)		( 48,351)
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			( 51,590)		( 48,451)
			_______		_______
Shareholders deficit			( 51,490)		( 48,351)
			_______		_______

For the year ending 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 29 January 2021 , and are signed on behalf of the board by:

Mr Stephen Taylor

Director

Company registration number: 09376912

UKAF Consultancy Limited

Notes to the financial statements

Year ended 31 January 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Deansfield House, 98 Lancaster Road, Newcastle Under Lyme, Staffordshire, ST5 1DS.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities.The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of consideration recieved or receivable for goods supplied and services rendered, net of discounts and Value Added Tax

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instruments.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).

5. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	7,200	5,400
Other creditors	3,644	3,644
Director loan account	39,501	37,591
Accruals	1,200	1,800
	_______	_______
	51,545	48,435
	_______	_______

6. Events after the end of the reporting period

The directors have considered the impact of the COVID-19 crisis on the business operations and the impact on the financial performance of the company. The company has made a successful application to its principle bankers to obtain £50,000 funding under the Government's Coronavirus bounce back loan scheme.As a result of the above, the directors believe that the company is well placed to manage its business risks sucessfuly despite the uncertain economic outlook.

7. Related party transactions

Mr S Taylor is a related party to the company by virtue of his directorship and shareholding in the company.During the year Mr S Taylor introduced funds into the company in the sum of £1,911 (2019: £15,747)At the year end the company owed Mr S Taylor the sum of £39,501 (2019: £37,951)

8. Going concern

As reflected within these financial statements, the company has reported a loss of £3,139 (2019: £17,397) and has deficiency of assets of £51,590 (2019: £48,351). These losses have been incurred investigating the viability of an overseas project in the oil & gas sector which the director is of the opinion will generate substantial profits in the foreseeable future. The company meets its day to day working capital requirements through ongoing financial support from the company director. The financial statements have been prepared on a going concern basis, the validity of which depends upon the company's ability to continue to receive the financial support of the company director. The financial statements do not include any adjustments that would result from a failure to obtain such support.