Monkey's Cousin Limited Small abridged accounts

MONKEY'S COUSIN LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Monkey's Cousin Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 January 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 07901325

Monkey's Cousin Limited

Unaudited Abridged Financial Statements

31 January 2017

HARPER SHELDON LIMITED

Chartered Accountants

Midway House

Staverton Technology Park

Herrick Way, Staverton

Cheltenham, Glos.

GL51 6TQ

Monkey's Cousin Limited

Abridged Financial Statements

Year ended 31 January 2017

Contents	Pages

Chartered accountants report to the director on the preparation of the unaudited statutory abridged financial statements	1

Abridged statement of financial position	2 to 3

Statement of changes in equity	4

Notes to the abridged financial statements	5 to 7

Monkey's Cousin Limited

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of Monkey's Cousin Limited

Year ended 31 January 2017

As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 31 January 2017, which comprise the abridged statement of financial position, statement of changes in equity and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

HARPER SHELDON LIMITED Chartered Accountants

Midway House Staverton Technology Park Herrick Way, Staverton Cheltenham, Glos. GL51 6TQ

4 July 2017

Monkey's Cousin Limited

Abridged Statement of Financial Position

31 January 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	6		4,195	5,593

Current assets

Debtors	10,004	40,720
Cash at bank and in hand	121,176	36,677
	---------	--------
	131,180	77,397

Creditors: amounts falling due within one year	124,880		82,879
	---------		--------
Net current assets/(liabilities)		6,300	( 5,482)
		--------	-------
Total assets less current liabilities		10,495	111
		--------	----
Net assets		10,495	111
		--------	----

Capital and reserves

Called up share capital	110	110
Profit and loss account	10,385	1
	--------	----
Members funds	10,495	111
	--------	----

These abridged 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 abridged statement of comprehensive income has not been delivered.

For the year ending 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

Monkey's Cousin Limited

Abridged Statement of Financial Position (continued)

31 January 2017

These abridged financial statements were approved by the board of directors and authorised for issue on 4 July 2017 , and are signed on behalf of the board by:

Mrs E Ford
Director

Company registration number: 07901325

Monkey's Cousin Limited

Statement of Changes in Equity

Year ended 31 January 2017

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1 February 2015	100	38,771	38,871

Profit for the year		49,705	49,705
	----	--------	--------
Total comprehensive income for the year	–	49,705	49,705

Issue of shares	10	–	10
Dividends paid and payable	–	( 88,475)	( 88,475)
	----	--------	--------
Total investments by and distributions to owners	10	( 88,475)	( 88,465)

At 31 January 2016	110	1	111

Profit for the year		43,734	43,734
	----	--------	--------
Total comprehensive income for the year	–	43,734	43,734

Dividends paid and payable	–	( 33,350)	( 33,350)
	----	--------	--------
Total investments by and distributions to owners	–	( 33,350)	( 33,350)

	----	--------	--------
At 31 January 2017	110	10,385	10,495
	----	--------	--------

Monkey's Cousin Limited

Notes to the Abridged Financial Statements

Year ended 31 January 2017

1. General information

The company is a private company limited by shares, registered in . The address of the registered office is Midway House, Staverton Technology Park, Herrick Way, Staverton, Gloucestershire, GL51 6TQ.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 February 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office equipment	-	20% straight line

4. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to 1 (2016: 1).

5. Profit before taxation

Profit before taxation is stated after charging:

	2017	2016
	£	£
Depreciation of tangible assets	1,398	1,844
	-------	-------

6. Tangible assets

	£
Cost
At 1 February 2016 and 31 January 2017	9,221
	-------
Depreciation
At 1 February 2016	3,628
Charge for the year	1,398
	-------
At 31 January 2017	5,026
	-------
Carrying amount
At 31 January 2017	4,195
	-------
At 31 January 2016	5,593
	-------

7. Director's advances, credits and guarantees

At the balance sheet date the company owed the director £39,345 (2016 £49,303) No interest has been charged on this loan.

8. Related party transactions

The company was controlled by Mrs E Ford , the director, during the current and preceeding year through majority ownership of the issued share capital. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standards for Small Entities.

9. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 February 2015.

No transitional adjustments were required in equity or profit or loss for the year.