Ricson Services Limited Company Accounts

RICSON SERVICES LTD - Company Information

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COMPANY REGISTRATION NUMBER: 05080260

Ricson Services Limited

Filleted Unaudited Financial Statements

31 March 2017

Ricson Services Limited

Financial Statements

year ended 31st March 2017

Contents	Pages

Officers and professional advisers	1

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	4 to 6

Ricson Services Limited

Officers and Professional Advisers

The board of directors	Mr A Miles
	Mr S Miles
	Mr M A Taylor
	Mrs D Maiden

Company secretary	Mrs D Maiden

Registered office	1st Floor
	8 Sandridge Park
	Porters Wood
	St Albans
	AL3 6PH

Accountants	Gilberts
	Chartered Accountants
	Pendragon House
	65 London Road
	St Albans
	Hertfordshire
	AL1 1LJ

Ricson Services Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Ricson Services Limited

year ended 31st March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ricson Services Limited for the year ended 31st March 2017, which comprise the statement of financial position 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 at: www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Ricson Services Limited, as a body, in accordance with the terms of our engagement letter dated 24th November 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Ricson Services Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ricson Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ricson Services Limited 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 Ricson Services Limited. You consider that Ricson Services Limited 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 Ricson Services Limited. 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.

Gilberts Chartered Accountants Pendragon House , 65 London Road , St Albans , Hertfordshire , AL1 1LJ

20 November 2017

Ricson Services Limited

Statement of Financial Position

31 March 2017

	2017	2016
Note	£	£

Fixed assets

Tangible assets	5	8,153	15,306

Current assets

Debtors	6	75,063	155,606
Cash at bank and in hand		169,525	306,866
		----------	----------
		244,588	462,472

Creditors: amounts falling due within one year	7	141,832	371,704
		----------	----------
Net current assets		102,756	90,768
		----------	----------
Total assets less current liabilities		110,909	106,074
		----------	----------
Net assets		110,909	106,074
		----------	----------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	109,909	105,074
	----------	----------
Members funds	110,909	106,074
	----------	----------

These 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 statement of income and retained earnings has not been delivered.

For the year ending 31st 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 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 financial statements .

These financial statements were approved by the board of directors and authorised for issue on 20 November 2017 , and are signed on behalf of the board by:

Mr A Miles

Director

Company registration number: 05080260

Ricson Services Limited

Notes to the Financial Statements

year ended 31st March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, 8 Sandridge Park, Porters Wood, St Albans, AL3 6PH.

2. Statement of compliance

These 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 financial statements have been prepared on the historical cost basis 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 1st April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Revenue recognition

Turnover is the total amount receivable by the company, excluding VAT, for the provision of payroll and accountancy services for contract workers in the UK.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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	-	25%-33% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 9 (2016: 9 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 Apr 2016 and 31 Mar 2017	170,270	170,270
	----------	----------
Depreciation
At 1st April 2016	154,964	154,964
Charge for the year	7,153	7,153
	----------	----------
At 31st March 2017	162,117	162,117
	----------	----------
Carrying amount
At 31st March 2017	8,153	8,153
	----------	----------
At 31st March 2016	15,306	15,306
	----------	----------

6. Debtors

	2017	2016
	£	£
Trade debtors	43,386	101,565
Other debtors	31,677	54,041
	--------	----------
	75,063	155,606
	--------	----------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	20,183	162,130
Social security and other taxes	40,249	54,784
Other creditors	81,400	154,790
	----------	----------
	141,832	371,704
	----------	----------

8. Transition to FRS 102

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

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