Potted Wisdom Ltd - Accounts to registrar - small 17.1.1
Potted Wisdom Ltd - Accounts to registrar - small 17.1.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31st March 2017 |
| for |
| POTTED WISDOM LTD |
| POTTED WISDOM LTD (REGISTERED NUMBER: 09665662) |
| Contents of the Financial Statements |
| for the Year Ended 31st March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| POTTED WISDOM LTD |
| Company Information |
| for the Year Ended 31st March 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Pillar House |
| 113/115 Bath Road |
| Cheltenham |
| Gloucestershire |
| GL53 7LS |
| POTTED WISDOM LTD (REGISTERED NUMBER: 09665662) |
| Balance Sheet |
| 31st March 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| POTTED WISDOM LTD (REGISTERED NUMBER: 09665662) |
| Notes to the Financial Statements |
| for the Year Ended 31st March 2017 |
| 1. | STATUTORY INFORMATION |
| Potted Wisdom Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis, under the historical cost basis except for |
| the modification to a fair value basis where specified. |
| Turnover |
| Revenue from a contract to provide services is recognised in the period in which the services are provided and in |
| accordance with the stage of completion of the contract at the balance sheet date. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Cost is defined as the purchase cost less any residual value. |
| Depreciation is charged from the month of acquisition at the above rates. |
| The fair values of the assets are regularly reviewed by the directors and further adjustments to carrying values are |
| made where considered appropriate. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except |
| to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or |
| substantively enacted by the balance sheet date. |
| Short term debtors and creditors |
| Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising |
| from impairment are recognised in the profit and loss account. |
| Provisions |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past |
| event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be |
| reliably estimated. |
| POTTED WISDOM LTD (REGISTERED NUMBER: 09665662) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance |
| sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is |
| estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an |
| impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where |
| the impairment loss is a revaluation decrease. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st April 2016 |
| and 31st March 2017 |
| DEPRECIATION |
| At 1st April 2016 |
| Charge for year |
| At 31st March 2017 |
| NET BOOK VALUE |
| At 31st March 2017 |
| At 31st March 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 8. | FIRST YEAR ADOPTION |
| This year is the first year the company has presented its results under FRS 102 Section 1A. The last financial |
| statements prepared under the previous UK GAAP were for the year ended 31st March 2016. The date of |
| transition to FRS 102 Section 1A was 1st April 2015. |
| No material adjustments have been noted on transition to FRS 102 Section 1A |