Company Registration No. 07072750 (England and Wales)
Attraction Technology Ltd
Unaudited accounts
for the year ended 31 March 2021
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Attraction Technology Ltd
for the year ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Attraction Technology Ltd for the year ended
31 March 2021 as set out on pages
3 -
6 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Dove Accountants, Tax & Business Advisors
Chartered Certified Accountants
Suite 2, The Wellington
78 High Street
Uttoxeter
Staffordshire
ST14 7JD
23 December 2021
Attraction Technology Ltd
Statement of financial position
as at 31 March 2021
Tangible assets
14,950
12,611
Cash at bank and in hand
393,004
108,192
Creditors: amounts falling due within one year
(307,441)
(184,850)
Net current assets
198,521
61,951
Total assets less current liabilities
213,471
74,562
Creditors: amounts falling due after more than one year
(56,667)
(15,000)
Provisions for liabilities
Called up share capital
133
133
Share premium
231,292
231,292
Profit and loss account
(77,461)
(171,863)
Shareholders' funds
153,964
59,562
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2021 and were signed on its behalf by
M I Locker
Director
Company Registration No. 07072750
Attraction Technology Ltd
Notes to the Accounts
for the year ended 31 March 2021
Attraction Technology Ltd is a private company, limited by shares, registered in England and Wales, registration number 07072750. The registered office is Unit 10, Uttoxeter Business Centre, Town Meadows Way, Uttoxeter, ST14 8AZ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10 years on a straight line basis
Computer equipment
3 years on a straight line basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Attraction Technology Ltd
Notes to the Accounts
for the year ended 31 March 2021
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
102,536
72,364
Other debtors
10,422
66,245
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
8,333
-
Trade creditors
24,768
20,436
Taxes and social security
49,999
16,635
Other creditors
224,341
147,779
7
Creditors: amounts falling due after more than one year
2021
2020
Other creditors
15,000
15,000
Attraction Technology Ltd
Notes to the Accounts
for the year ended 31 March 2021
8
Transactions with related parties
The company has received a loan amounting to £15,000 (2020 - £15,000) from a director. The loan has no fixed repayment date, and the rate of interest charged is 0%. At the balance sheet date, the loan was still outstanding and is presented within creditors: amounts falling due after more than one year.
9
Average number of employees
During the year the average number of employees was 13 (2020: 11).
