Resourcing Associates Limited Small abridged accounts

RESOURCING ASSOCIATES LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Resourcing Associates Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the period ending 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 05294791

Resourcing Associates Limited

Unaudited Abridged Financial Statements

31 December 2016

Resourcing Associates Limited

Abridged Financial Statements

Period from 1 July 2016 to 31 December 2016

Contents	Page

Director's report	1

Chartered certified accountants report to the director on the preparation of the unaudited statutory abridged financial statements	2

Abridged statement of income and retained earnings	3

Abridged statement of financial position	4

Notes to the abridged financial statements	5

The following pages do not form part of the abridged financial statements

Detailed abridged income statement	10

Notes to the detailed abridged income statement	11

Resourcing Associates Limited

Director's Report

Period from 1 July 2016 to 31 December 2016

The director presents his report and the unaudited abridged financial statements of the company for the period ended 31 December 2016 .

Directors

The directors who served the company during the period were as follows:

Mr S A Blair	(Appointed 26 September 2016)
Mr S M Levy	(Retired 26 September 2016)
Mrs M S Levy	(Retired 26 September 2016)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 17 November 2017 and signed on behalf of the board by:

Mr S A Blair
Director

Registered office:

Athene House

Suite J

86 The Broadway

Mill Hill

London

United Kingdom

NW7 3TD

Resourcing Associates Limited

Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of Resourcing Associates Limited

Period from 1 July 2016 to 31 December 2016

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 period ended 31 December 2016, which comprise the abridged statement of income and retained earnings, abridged statement of financial position 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.

JIGSOL BUSINESS SOLUTIONS LTD Chartered Certified Accountants

Athene House 86 The Broadway Mill Hill London NW7 3TD

17 November 2017

Resourcing Associates Limited

Abridged Statement of Income and Retained Earnings

Period from 1 July 2016 to 31 December 2016

	Period from
	1 Jul 16 to	Year to
	31 Dec 16	30 Jun 16
Note	£	£
Gross profit	110,055	–

Administrative expenses	5,046	–
	---------	----
Operating profit	105,009	–

		---------	----
Profit before taxation	4	105,009	–

Tax on profit	19,174	–
	---------	----
Profit for the financial period and total comprehensive income	85,835	–
	---------	----

Dividends paid and payable	( 85,000)	–

Retained earnings at the start of the period	14	14
	--------	----
Retained earnings at the end of the period	849	14
	--------	----

All the activities of the company are from continuing operations.

Resourcing Associates Limited

Abridged Statement of Financial Position

31 December 2016

	31 Dec 16		30 Jun 16
Note	£	£	£

Fixed assets

Tangible assets	6		1,043	–

Current assets

Debtors	5,320	–
Cash at bank and in hand	77,750	114
	--------	----
	83,070	114

Creditors: amounts falling due within one year	83,164		–
	--------		----
Net current (liabilities)/assets		( 94)	114
		-------	----
Total assets less current liabilities		949	114
		----	----

Capital and reserves

Called up share capital	100	100
Profit and loss account	849	14
	----	----
Members funds	949	114
	----	----

These abridged financial statements have been prepared 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'.

For the period ending 31 December 2016 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 period in question in accordance with section 476 ;

- The director acknowledges his 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 were approved by the board of directors and authorised for issue on 17 November 2017 , and are signed on behalf of the board by:

Mr S A Blair
Director

Company registration number: 05294791

Resourcing Associates Limited

Notes to the Abridged Financial Statements

Period from 1 July 2016 to 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Athene House, Suite J, 86 The Broadway, Mill Hill, London, NW7 3TD, United Kingdom.

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 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

		-	Fully written off in prior years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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:

	Equipment	-	33% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Profit before taxation

Profit before taxation is stated after charging:

	Period from
	1 Jul 16 to	Year to
	31 Dec 16	30 Jun 16
	£	£
Depreciation of tangible assets	206	–
	----	----

5. Intangible assets

	£
Cost
At 1 July 2016 and 31 December 2016	14,803
	--------
Amortisation
At 1 July 2016 and 31 December 2016	14,803
	--------
Carrying amount
At 31 December 2016	–
	--------

6. Tangible assets

	£
Cost
At 1 July 2016	4,748
Additions	1,249
Disposals	( 4,748)
	-------
At 31 December 2016	1,249
	-------
Depreciation
At 1 July 2016	4,748
Charge for the period	206
Disposals	( 4,748)
	-------
At 31 December 2016	206
	-------
Carrying amount
At 31 December 2016	1,043
	-------
At 30 June 2016	–
	-------

7. Related party transactions

The company was under the control of Mr S Blair throughout the current year. Mr S A Blair is the managing director . During the period the company paid net dividends of £42,500 (June 2016: £nil)to Mr S A Blair .

8. Transition to FRS 102

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

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

Resourcing Associates Limited

Management Information

Period from 1 July 2016 to 31 December 2016

The following pages do not form part of the abridged financial statements.

Resourcing Associates Limited

Detailed Abridged Income Statement

Period from 1 July 2016 to 31 December 2016

	Period from
	1 Jul 16 to	Year to
	31 Dec 16	30 Jun 16
	£	£
Turnover	115,369	–

Cost of sales

Direct costs	5,314	–

	---------	----
Gross profit	110,055	–

Overheads

Administrative expenses	5,046	–

	---------	----
Operating profit	105,009	–

	---------	----
Profit before taxation	105,009	–
	---------	----

Resourcing Associates Limited

Notes to the Detailed Abridged Income Statement

Period from 1 July 2016 to 31 December 2016

	Period from
	1 Jul 16 to	Year to
	31 Dec 16	30 Jun 16
	£	£

Administrative expenses

Rent rates and water	1,300	–
Insurance	82	–
Travel and subsistence	2,500	–
Telephone	526	–
Printing postage and stationery	243	–
Computer running costs	177	–
Depreciation of plant and machinery	206	–
Bank charges	12	–
	-------	----
	5,046	–
	-------	----