PA Simmonds Ltd - Accounts to registrar - small 17.2
PA Simmonds Ltd - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2017 |
| FOR |
| PA SIMMONDS LTD |
| PA SIMMONDS LTD (REGISTERED NUMBER: 07122985) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| PA SIMMONDS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JANUARY 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 19 Goldington Road |
| Bedford |
| MK40 3JY |
| PA SIMMONDS LTD (REGISTERED NUMBER: 07122985) |
| BALANCE SHEET |
| 31 JANUARY 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| PA SIMMONDS LTD (REGISTERED NUMBER: 07122985) |
| BALANCE SHEET - continued |
| 31 JANUARY 2017 |
| 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 director on |
| PA SIMMONDS LTD (REGISTERED NUMBER: 07122985) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2017 |
| 1. | STATUTORY INFORMATION |
| PA Simmonds Limited is a private company, limited by shares, registered in England within the United |
| Kingdom. The company's registered number and registered office address can be found on the Company |
| Information page. |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to |
| the nearest £. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. |
| These policies have been consistently applied to all years presented unless otherwise stated. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents commissions due in respect of the period. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised |
| evenly over its estimated useful life of four years. |
| Intangible assets other than goodwill |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Other intangible assets are being amortised evenly over their estimated useful life of 4 years. This period has |
| been selected as the purchase of the asset in 2017 is expected to lead to increased income streams for 4 years. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Financial instruments |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
| transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
| administrative expenses. |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, |
| they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement |
| constitutes a finance transaction it is measured at present value. |
| 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 have been enacted or |
| substantively enacted by the balance sheet date. |
| PA SIMMONDS LTD (REGISTERED NUMBER: 07122985) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease |
| term. |
| Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis |
| over the period until the date rent is expected to be adjusted to the prevailing market rate. |
| Employee benefits |
| When employees have rendered service to the company, short-term employee benefits to which the employees |
| are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2016 |
| Additions |
| At 31 January 2017 |
| AMORTISATION |
| At 1 February 2016 |
| Charge for year |
| At 31 January 2017 |
| NET BOOK VALUE |
| At 31 January 2017 |
| At 31 January 2016 |
| PA SIMMONDS LTD (REGISTERED NUMBER: 07122985) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2016 |
| Additions |
| At 31 January 2017 |
| DEPRECIATION |
| At 1 February 2016 |
| Charge for year |
| At 31 January 2017 |
| NET BOOK VALUE |
| At 31 January 2017 |
| At 31 January 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other creditors |
| 9. | OTHER FINANCIAL COMMITMENTS |
| At the year end, the company had financial commitments under operating leases of £161,500 (2016: £201,000) |
| which are not included in the balance sheet. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PA SIMMONDS LTD |
| The following reproduces the text of the report prepared for the director and members in respect of the |
| company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
| only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
| primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of PA Simmonds Ltd for the year ended 31 January 2017 which comprise the Profit and Loss |
| Account, Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of PA Simmonds Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PA Simmonds Ltd and state those matters that we have agreed to state to the director of PA Simmonds Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PA Simmonds Ltd director for our work or for this report. |
| It is your duty to ensure that PA Simmonds Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PA Simmonds Ltd. You consider that PA Simmonds Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of PA Simmonds Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 19 Goldington Road |
| Bedford |
| MK40 3JY |