UKAF Consultancy Limited 31/01/2021 iXBRL

UKAF Consultancy Limited 31/01/2021 iXBRL

UKAF CONSULTANCY LIMITED - Company Information

Print Friendly Version

31/01/2021 2021-01-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2020-02-01 Sage Accounts Production 2020 Update 1 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 09376912 2020-02-01 2021-01-31 09376912 2021-01-31 09376912 2019-02-01 2020-01-31 09376912 2020-01-31 09376912 bus:Director2 2020-02-01 2021-01-31 09376912 core:WithinOneYear 2021-01-31 09376912 core:WithinOneYear 2020-01-31 09376912 core:AfterOneYear 2021-01-31 09376912 core:ShareCapital 2021-01-31 09376912 core:ShareCapital 2020-01-31 09376912 core:RetainedEarningsAccumulatedLosses 2021-01-31 09376912 core:RetainedEarningsAccumulatedLosses 2020-01-31 09376912 bus:SmallEntities 2020-02-01 2021-01-31 09376912 bus:AuditExempt-NoAccountantsReport 2020-02-01 2021-01-31 09376912 bus:FullAccounts 2020-02-01 2021-01-31 09376912 bus:SmallCompaniesRegimeForAccounts 2020-02-01 2021-01-31 09376912 bus:PrivateLimitedCompanyLtd 2020-02-01 2021-01-31 09376912 core:AllAssociates 2020-02-01 2021-01-31
Company registration number: 09376912
UKAF Consultancy Limited
Unaudited filleted financial statements
31 January 2021
UKAF Consultancy Limited
Contents
Statement of financial position
Notes to the financial statements
UKAF Consultancy Limited
Statement of financial position
31 January 2021
2021 2020
Note £ £ £ £
Current assets
Cash at bank and in hand 29 55
_______ _______
29 55
Creditors: amounts falling due
within one year 5 ( 36,105) ( 51,545)
_______ _______
Net current liabilities ( 36,076) ( 51,490)
_______ _______
Total assets less current liabilities ( 36,076) ( 51,490)
Creditors: amounts falling due
after more than one year 6 ( 47,500) -
_______ _______
Net liabilities ( 83,576) ( 51,490)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 83,676) ( 51,590)
_______ _______
Shareholders deficit ( 83,576) ( 51,490)
_______ _______
For the year ending 31 January 2021 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 October 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 2021
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 3 (2020: 2 ).
5. Creditors: amounts falling due within one year
2021 2020
£ £
Bank loans and overdrafts 2,500 -
Trade creditors 8,400 7,200
Other creditors 3,594 3,644
Director loan account 20,411 39,501
Accruals 1,200 1,200
_______ _______
36,105 51,545
_______ _______
6. Creditors: amounts falling due after more than one year
2021 2020
£ £
Bank loans and overdrafts 47,500 -
_______ _______
7. Related party transactions
Mr S Taylor and Mr D Nabavi are a related party to the company by virtue of their directorship in the company.Mr S Taylor is a related party to the company by virtue of their shareholding in the company.During the year the directors withdrew net funds from the company in the sum of £19,091 (2020: Introduced £1,911) At the year end the company owed Mr S Taylor the sum of £20,411 (2020: £39,501)
8. Current year material events
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.
9. Going concern
As reflected within these financial statements, the company has reported a loss of £32,086 (2020: £3,139) and has deficiency of assets of £83,676 (2020: £51,590). 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.