Servicepals.Com Limited |
Notes to the Accounts |
for the year ended 30 September 2020 |
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1 |
Accounting policies |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold buildings |
over 50 years |
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Leasehold land and buildings |
over the lease term |
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Platform & Software |
over 10 years |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice 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. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice 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. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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2 |
Employees |
2020 |
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2019 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 October 2019 |
48,084 |
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At 30 September 2020 |
48,084 |
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Amortisation |
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At 1 October 2019 |
34,751 |
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At 30 September 2020 |
34,751 |
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Net book value |
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At 30 September 2020 |
13,333 |
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At 30 September 2019 |
13,333 |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
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4 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 October 2019 |
77,148 |
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At 30 September 2020 |
77,148 |
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Depreciation |
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At 1 October 2019 |
73,840 |
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At 30 September 2020 |
73,840 |
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Net book value |
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At 30 September 2020 |
3,308 |
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At 30 September 2019 |
3,308 |
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5 |
Creditors: amounts falling due within one year |
2020 |
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2019 |
£ |
£ |
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Trade creditors |
500 |
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500 |
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Other creditors |
1,141 |
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58,353 |
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1,641 |
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58,853 |
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6 |
Other information |
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Servicepals.Com Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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The Barn |
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173 Church Road |
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Northfield |
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Birmingham |
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B31 2LX |