Access Potential Ltd - Accounts

Access Potential Ltd - Accounts

ACCESS POTENTIAL LTD - Company Information

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Registered number
05025347
Access Potential Ltd
Report and Accounts
31 January 2015
Access Potential Ltd
Registered number: 05025347
Directors' Report
The directors present their report and accounts for the year ended 31 January 2015.
Principal activities
The company's principal activity during the year continued to be developmental therapy.
Directors
The following persons served as directors during the year:
R J Allen
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 19 October 2015 and signed on its behalf.
R J Allen
Director
Access Potential Ltd
Accountants' Report
Accountants' report to the directors of
Access Potential Ltd
You consider that the company is exempt from an audit for the year ended 31 January 2015. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Angle TM Ltd
Accountants
3 Shaftesbury Close
West Moors
Bournemouth
Dorset
BH22 0DZ
19 October 2015
Access Potential Ltd
Profit and Loss Account
for the year ended 31 January 2015
Notes 2015 2014
£ £
Turnover 2 59,075 61,381
Cost of sales (2,557) (1,158)
Gross profit 56,518 60,223
Distribution costs - -
Administrative expenses (18,167) (19,143)
Other operating income - -
Operating profit 3 38,351 41,080
Exceptional items:
profit on the disposal of tangible fixed assets - -
profit on the disposal of investments - -
- -
38,351 41,080
Income from investments - -
Interest receivable 1 3
Interest payable 4 - -
Profit on ordinary activities before taxation 38,352 41,083
Tax on profit on ordinary activities 5 (7,688) (8,281)
Profit for the financial year 30,664 32,802
Access Potential Ltd
Balance Sheet
as at 31 January 2015
Notes 2015 2014
£ £
Fixed assets
Intangible assets 6 - -
Tangible assets 7 361 451
Investments 8 - -
361 451
Current assets
Stocks - -
Debtors 9 - -
Investments held as current assets 10 - -
Cash at bank and in hand 22,682 29,106
22,682 29,106
Creditors: amounts falling due within one year 11 (7,956) (19,134)
Net current assets 14,726 9,972
Total assets less current liabilities 15,087 10,423
Creditors: amounts falling due after more than one year 12 - -
Provisions for liabilities 14 - -
Net assets 15,087 10,423
Capital and reserves
Called up share capital 15 100 100
Share premium 16 - -
Revaluation reserve 17 - -
Capital redemption reserve 18 - -
Profit and loss account 19 14,987 10,323
Shareholders' funds 15,087 10,423
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
R J Allen
Director
Approved by the board on 19 October 2015
Access Potential Ltd
Notes to the Accounts
for the year ended 31 January 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% straight line
Motor vehicles 25% straight line
Stocks
Stock is valued at the lower of cost and net realisable value.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Turnover 2015 2014
Turnover attributable to geographical markets outside the UK 0.0% 0.0%
3 Operating profit 2015 2014
£ £
This is stated after charging:
Depreciation of owned fixed assets 1,250 1,160
Depreciation of assets held under finance leases and hire purchase contracts - -
Amortisation of goodwill - -
Directors' remuneration - -
Compensation to past directors for loss of office - -
Pension costs - -
Auditors' remuneration - -
Exceptional costs associated with introducing the Euro - -
Number of directors to whom benefits accrued under money purchase pension schemes - -
4 Interest payable 2015 2014
£ £
Interest payable - -
Non-equity dividends - -
- -
5 Taxation 2015 2014
£ £
UK corporation tax 7,688 8,281
Deferred tax - -
7,688 8,281
6 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2014 -
Additions -
Disposals -
At 31 January 2015 -
Amortisation
At 1 February 2014 -
Provided during the year -
On disposals -
At 31 January 2015 -
Net book value
At 31 January 2015 -
At 31 January 2014 -
7 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2014 - 1,611 - 1,611
Additions - - - -
Surplus on revaluation - - - -
Disposals - - - -
At 31 January 2015 - 1,611 - 1,611
Depreciation
At 1 February 2014 - 1,160 - 1,160
Charge for the year - 90 - 90
Surplus on revaluation - - - -
On disposals - - - -
At 31 January 2015 - 1,250 - 1,250
Net book value
At 31 January 2015 - 361 - 361
At 31 January 2014 - 451 - 451
8 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 February 2014 - - -
Additions - - -
Disposals - - -
At 31 January 2015 - - -
9 Debtors 2015 2014
£ £
Trade debtors - -
Amounts owed by group undertakings and undertakings in which the company has a participating interest - -
Deferred tax asset (see note 14) - -
Other debtors - -
- -
Amounts due after more than one year included above - -
10 Investments held as current assets 2015 2014
£ £
Listed investments - -
Unlisted investments - -
- -
Listed investments at market value - -
11 Creditors: amounts falling due within one year 2015 2014
£ £
Non-equity preference shares - -
Bank loans and overdrafts - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Corporation tax 7,688 8,281
Other taxes and social security costs - -
Other creditors 268 10,853
7,956 19,134
12 Creditors: amounts falling due after one year 2015 2014
£ £
Non-equity preference shares - -
Bank loans - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Other creditors - -
- -
13 Loans 2015 2014
£ £
Creditors include:
Amounts falling due for payment after more than five years - -
Secured bank loans - -
14 Provisions for liabilities
Deferred taxation: 2015 2014
£ £
Accelerated capital allowances - -
Tax losses carried forward - -
- -
2015 2014
£ £
At 1 February - -
Deferred tax charge in profit and loss account - -
At 31 January - -
15 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each - 100 100
B Ordinary shares £1 each - - -
100 100
Preference shares £1 each - - -
100 100
Nominal Number Amount
value £
Shares issued during the period:
Ordinary shares £1 each - -
B Ordinary shares £1 each - -
-
Preference shares £1 each - -
-
16 Share premium 2015
£
At 1 February 2014 -
Shares issued -
Expenses of issue -
At 31 January 2015 -
17 Revaluation reserve 2015
£
At 1 February 2014 -
Arising on revaluation during the year -
At 31 January 2015 -
18 Capital redemption reserve 2015
£
At 1 February 2014 -
Transfer from the profit and loss account -
At 31 January 2015 -
19 Profit and loss account 2015
£
At 1 February 2014 10,323
Prior year adjustments -
At 1 February 2014 10,323
Profit for the year 30,664
Dividends (26,000)
Transfer to capital redemption reserve -
At 31 January 2015 14,987
20 Dividends 2015 2014
£ £
Dividends for which the company became liable during the year:
Dividends paid 26,000 30,000
Dividends not paid - -
26,000 30,000
Analysis of dividends by type:
Non-equity dividends (note 4) - -
Equity dividends (note 19) - -
- -
Dividends proposed after the balance sheet date - -
21 Post balance sheet events
None.
22 Ultimate controlling party
The Company is controlled by the Director.
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