C & D F Mather Direct Sales Management & Consultancy Ltd Company Accounts

C & D F Mather Direct Sales Management & Consultancy Ltd Company Accounts

C & D F MATHER DIRECT SALES, MANAGEMENT & CONSULTANCY LTD - Company Information

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COMPANY REGISTRATION NUMBER: 09278504
C & D F Mather Direct Sales Management & Consultancy Ltd
Filleted Unaudited Financial Statements
31 October 2017
C & D F Mather Direct Sales Management & Consultancy Ltd
Financial Statements
Year ended 31 October 2017
Contents
Page
Report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
C & D F Mather Direct Sales Management & Consultancy Ltd
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of C & D F Mather Direct Sales Management & Consultancy Ltd
Year ended 31 October 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 C & D F Mather Direct Sales Management & Consultancy Ltd for the year ended 31 October 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of C & D F Mather Direct Sales Management & Consultancy Ltd, as a body, in accordance with the terms of our engagement letter dated 1 November 2015. Our work has been undertaken solely to prepare for your approval the financial statements of C & D F Mather Direct Sales Management & Consultancy Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C & D F Mather Direct Sales Management & Consultancy Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that C & D F Mather Direct Sales Management & Consultancy 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 C & D F Mather Direct Sales Management & Consultancy Ltd. You consider that C & D F Mather Direct Sales Management & Consultancy 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 C & D F Mather Direct Sales Management & Consultancy 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.
G&T ACCOUNTANCY SERVICES LTD Chartered accountant
Denby Dale Business Park Wakefield Road Denby Dale Huddersfield West Yorkshire HD8 8QH
5 December 2017
C & D F Mather Direct Sales Management & Consultancy Ltd
Statement of Financial Position
31 October 2017
2017
2016
Note
£
£
£
Fixed assets
Tangible assets
4
407
110
Current assets
Cash at bank and in hand
44,860
25,221
Creditors: amounts falling due within one year
5
22,333
25,295
--------
--------
Net current assets/(liabilities)
22,527
( 74)
--------
----
Total assets less current liabilities
22,934
36
Provisions
Taxation including deferred tax
77
–
--------
----
Net assets
22,857
36
--------
----
Capital and reserves
Called up share capital
2
2
Profit and loss account
22,855
34
--------
----
Members funds
22,857
36
--------
----
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 income statement has not been delivered.
For the year ending 31 October 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 .
C & D F Mather Direct Sales Management & Consultancy Ltd
Statement of Financial Position (continued)
31 October 2017
These financial statements were approved by the board of directors and authorised for issue on 5 December 2017 , and are signed on behalf of the board by:
Mr C Mather
Director
Company registration number: 09278504
C & D F Mather Direct Sales Management & Consultancy Ltd
Notes to the Financial Statements
Year ended 31 October 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 35 Lee Road, Wirral, CH47 3DN, England.
2. 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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
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 represents the value of goods sold and services provided net of value added tax.
Taxation
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.
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. 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.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 November 2016
325
325
Additions
603
603
----
----
At 31 October 2017
928
928
----
----
Depreciation
At 1 November 2016
215
215
Charge for the year
306
306
----
----
At 31 October 2017
521
521
----
----
Carrying amount
At 31 October 2017
407
407
----
----
At 31 October 2016
110
110
----
----
5. Creditors: amounts falling due within one year
2017
2016
£
£
Corporation tax
13,876
15,018
Social security and other taxes
6,004
4,002
Other creditors
2,453
6,275
--------
--------
22,333
25,295
--------
--------