SSS.Shoushi Limited Company Accounts

SSS.Shoushi Limited Company Accounts

SSS.SHOUSHI LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09658011
SSS.SHOUSHI LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 July 2017
SSS.SHOUSHI LIMITED
FINANCIAL STATEMENTS
PERIOD FROM 1 JULY 2016 TO 31 JULY 2017
CONTENTS
PAGES
Officers and professional advisers
1
Statement of financial position
2 to 3
Statement of changes in equity
4
Notes to the financial statements
5 to 7
SSS.SHOUSHI LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
DIRECTOR
Dr A S Shoushi
REGISTERED OFFICE
18 Well Lane
Rothwell
Kettering
Northamptonshire
NN14 6DQ
ACCOUNTANTS
Meadows & Co Limited
Chartered Accountants
Headlands House
1 Kings Court
Kettering Parkway
Kettering
NN15 6WJ
SSS.SHOUSHI LIMITED
STATEMENT OF FINANCIAL POSITION
31 July 2017
31 Jul 17
30 Jun 16
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
–
687
CURRENT ASSETS
Debtors
6
–
13,630
Cash at bank and in hand
46,644
7,892
--------
--------
46,644
21,522
CREDITORS: amounts falling due within one year
7
20,253
14,434
--------
--------
NET CURRENT ASSETS
26,391
7,088
--------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
26,391
7,775
--------
-------
NET ASSETS
26,391
7,775
--------
-------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
26,291
7,675
--------
-------
MEMBERS FUNDS
26,391
7,775
--------
-------
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 comprehensive income has not been delivered.
For the period ending 31 July 2017 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 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 financial statements .
SSS.SHOUSHI LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 July 2017
These financial statements were approved by the board of directors and authorised for issue on 1 November 2017 , and are signed on behalf of the board by:
Dr A S Shoushi
Director
Company registration number: 09658011
SSS.SHOUSHI LIMITED
STATEMENT OF CHANGES IN EQUITY
PERIOD FROM 1 JULY 2016 TO 31 JULY 2017
Called up share capital
Profit and loss account
Total
£
£
£
AT 25 JUNE 2015
–
–
–
Profit for the period
51,846
51,846
----
--------
--------
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
–
51,846
51,846
Issue of shares
100
–
100
Dividends paid and payable
–
( 44,171)
( 44,171)
----
--------
--------
TOTAL INVESTMENTS BY AND DISTRIBUTIONS TO OWNERS
100
( 44,171)
( 44,071)
AT 30 JUNE 2016
100
7,675
7,775
Profit for the period
55,473
55,473
----
--------
--------
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
–
55,473
55,473
Dividends paid and payable
–
( 36,857)
( 36,857)
----
--------
--------
TOTAL INVESTMENTS BY AND DISTRIBUTIONS TO OWNERS
–
( 36,857)
( 36,857)
----
--------
--------
AT 31 JULY 2017
100
26,291
26,391
----
--------
--------
SSS.SHOUSHI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 JULY 2016 TO 31 JULY 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 18 Well Lane, Rothwell, Kettering, Northamptonshire, NN14 6DQ.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The 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 25 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
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.
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% straight line
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 2 (2016: 2 ).
5. TANGIBLE ASSETS
Equipment
Total
£
£
Cost
At 1 July 2016
1,030
1,030
Additions
353
353
Disposals
( 1,383)
( 1,383)
-------
-------
At 31 July 2017
–
–
-------
-------
Depreciation
At 1 July 2016
343
343
Disposals
( 343)
( 343)
-------
-------
At 31 July 2017
–
–
-------
-------
Carrying amount
At 31 July 2017
–
–
-------
-------
At 30 June 2016
687
687
-------
-------
6. DEBTORS
31 Jul 17
30 Jun 16
£
£
Trade debtors
–
7,212
Other debtors
–
6,418
----
--------
–
13,630
----
--------
7. CREDITORS: amounts falling due within one year
31 Jul 17
30 Jun 16
£
£
Corporation tax
13,771
12,934
Other creditors
6,482
1,500
--------
--------
20,253
14,434
--------
--------
8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the period the company undertook the following transactions with the director:
2017 2016
£ £
Opening balance 6,417 –
Closing balance (4,953) 6,417
Total advances – 17,555
Total repaid 11,370 11,138
Maximum outstanding 6,417 7,687
9. TRANSITION TO FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 25 June 2015.
No transitional adjustments were required in equity or profit or loss for the period.