Atlantic Language Training Limited - Period Ending 2017-03-31

Atlantic Language Training Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2017

Registration number: 07386831

Atlantic Language Training Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 6

Atlantic Language Training Limited

Balance Sheet

31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	2,112	3,168
Current assets
Debtors	5	3,250	1,763
Cash at bank and in hand		4,158	893
		7,408	2,656
Creditors: Amounts falling due within one year	6	(3,802)	(3,612)
Net current assets/(liabilities)		3,606	(956)
Net assets		5,718	2,212
Capital and reserves
Called up share capital		2	2
Profit and loss account		5,716	2,210
Total equity		5,718	2,212

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 1

Atlantic Language Training Limited

Balance Sheet

31 March 2017

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 21 July 2017 and signed on its behalf by:
 

.........................................

Mrs D Buse

Director

.........................................

Mr D Cavrot

Director

Company Registration Number: 07386831

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

Atlantic Language Training Limited

Notes to the Financial Statements

Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
3-5 Moon Street
Bretonside
Plymouth
Devon
PL4 0AL

These financial statements were authorised for issue by the Board on 21 July 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Change in basis of accounting

The company's financial statements have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from previously extant UK GAAP to FRS102 as at 1 April 2015. There is no material impact on the reported financial position and financial performance.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Website	20% straight line

Page 3

Atlantic Language Training Limited

Notes to the Financial Statements

Year Ended 31 March 2017

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2016 - 2).

Page 4

Atlantic Language Training Limited

Notes to the Financial Statements

Year Ended 31 March 2017

4	Tangible assets

	Website £	Total £
Cost or valuation
At 1 April 2016	5,280	5,280
At 31 March 2017	5,280	5,280
Depreciation
At 1 April 2016	2,112	2,112
Charge for the year	1,056	1,056
At 31 March 2017	3,168	3,168
Carrying amount
At 31 March 2017	2,112	2,112
At 31 March 2016	3,168	3,168

5

Debtors

	2017  £	2016  £
Trade debtors	1,383	1,615
Intercompany - Atlantic Translations	1,610	-
Other debtors	2	2
Prepayments	255	146
	3,250	1,763

6

Creditors

	2017  £	2016  £
Due within one year
Trade creditors	1,644	2,408
Intercompany - Atlantic Translations	-	338
Accrued expenses	500	500
Corporation tax	1,658	366
	3,802	3,612

Page 5

Atlantic Language Training Limited

Notes to the Financial Statements

Year Ended 31 March 2017

7	Transition to FRS 102

The company transitioned to FRS102 from previously extant UK GAAP as at 1 April 2015.

There were no changes to the previously stated equity as at 1 April 2015 and 1 April 2016 or in the profit for the year ended 31 March 2016 as a result of the transition to FRS102.

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