Endless_Stretch_Limited_31_Dec_2016_companies_house_set_of_accounts.html
Endless_Stretch_Limited_31_Dec_2016_companies_house_set_of_accounts.html
Statement of consent to prepare Abridged Financial Statements
Year ended 31 December 2016
All of the members of Endless Stretch Limited have consented to the preparation of the Abridged Statement of Financial Position and the Abridged Income Statement for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.
Company registration number:
Report to the directors on the preparation of the unaudited statutory abridged financial statements of Endless Stretch Limited
Year ended 31 December 2016
As described on the statement of financial position, the Board of Directors of Endless Stretch Limited are responsible for the preparation of the abridged financial statements for the year ended 31 December 2016 , which comprise the abridged income statement, abridged statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
Abridged Statement of Financial Position
| 2016 | 2015 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Intangible assets | 5 |
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| Tangible assets | 5 |
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| Current assets | |||||
| Debtors |
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| Cash at bank and in hand |
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| Creditors: amounts falling due within one year |
(
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) |
(
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) | |
| Net current liabilities |
(
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) |
(
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) | |
| Total assets less current liabilities | 4,070,737 | 4,529,287 | |||
| Creditors: amounts falling due after more than one year |
(
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) |
(
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) | |
| Net liabilities |
(
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(
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| Capital and reserves | |||||
| Called up share capital |
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| Profit and loss account |
(
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(
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) | |
| Shareholders deficit |
(
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) |
(
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) | |
For the year ending 31 December 2016 , 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 abridged financial statements for the year in question in accordance with section 476; The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These abridged financial statements were approved by the board of directors and authorised for issue on 29 September 2017 , and are signed on behalf of the board by:
| Director |
Company registration number:
09343058
Notes to the Abridged Financial Statements
Year ended 31 December 2016
1 General information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 77 Grey Street , Newcastle upon Tyne , NE1 6EF , United Kingdom.
2 Statement of compliance
These abridged financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The abridged financial statements are prepared in sterling, which is the functional currency of the company.
Going concern
Turnover
Revenue from rent is recognised on the quarter days; 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.
Goodwill
Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.
Intangible assets
Intangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are measured at the fair value at the acquisition date.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
| Goodwill |
Tangible assets
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
| Land and buildings | |
| Office equipment | |
| Fixtures and fittings |
4 Average number of employees
The average number of persons employed by the company during the year was 1 (2015: 1 ).
5 Fixed assets
| Intangible assets | Tangible assets | Total | ||||
|---|---|---|---|---|---|---|
| £ | £ | £ | ||||
| Cost | ||||||
| At |
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4,961,712 | |||
| Amortisation and depreciation | ||||||
| At |
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350,395 | |||
| Charge |
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321,144 | |||
| At |
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671,539 | |||
| Carrying amount | ||||||
| At |
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| At 31 December 2015 |
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