ACCOUNTS - Final Accounts preparation

CLAYHALL ACCOUNTING LIMITED - Company Information

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Registered number: 09277366

CLAYHALL ACCOUNTING LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2020

CLAYHALL ACCOUNTING LIMITED

REGISTERED NUMBER: 09277366

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2020

	2020	2020	2019	2019
Note	£	£	£	£

Fixed assets
Tangible assets	4		1,094		161
			1,094		161
Current assets
Cash at bank and in hand		19,480		21,520
		19,480		21,520
Creditors: amounts falling due within one year	5	(2,724)		(3,386)
Net current assets			16,756		18,134
Total assets less current liabilities			17,850		18,295

Net assets			17,850		18,295

Capital and reserves
Called up share capital	100	100
Profit and loss account	17,750	18,195
	17,850	18,295

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 June 2021.

S Buitekant

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CLAYHALL ACCOUNTING LIMITED

REGISTERED NUMBER: 09277366

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2020

Director

The notes on pages 3 to 6 form part of these financial statements.

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CLAYHALL ACCOUNTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

1.	General information

Clayhall Accounting Limited is a private company limited by shares and registered in England and Wales. The address of the registered office and principal place of business is 22 Earlswood Gardens, Clayhall, Ilford, Essex IG5 0DF.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax.
Turnover comprises services delivered to clients during the financial period.

2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current 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 United Kingdom.

2.4

Tangible fixed assets

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.

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CLAYHALL ACCOUNTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Office equipment

20%

per annum straight line

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

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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CLAYHALL ACCOUNTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

Employees

The average monthly number of employees, including the director, during the year was as follows:

			2020	2019
			No.	No.

			1	1

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 November 2019	1,125
	Additions	1,218
	At 31 October 2020	2,343
	Depreciation
	At 1 November 2019	964
	Charge for the year on owned assets	285
	At 31 October 2020	1,249
	Net book value
	At 31 October 2020	1,094
	At 31 October 2019	161

5.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Corporation tax	1,553	2,612
Other creditors	1,171	774
	2,724	3,386

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CLAYHALL ACCOUNTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

6.	Related party transactions
	At the year end the director was owed £1,171 (2019 £654). No interest is charged.

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