Cherwell Publishing Services Limited - Filleted accounts

CHERWELL PUBLISHING SERVICES LIMITED - Company Information

CHERWELL PUBLISHING SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2017

































Company Registration Number: 03657618

CHERWELL PUBLISHING SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017


CONTENTS									PAGES



Company information									1

Balance sheet									2

Notes to the financial statements									3 to 6

CHERWELL PUBLISHING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2017


DIRECTORS

N K Hardyman
R S H Hardyman


SECRETARY

N K Hardyman


REGISTERED OFFICE

Cranbrook House
287-291 Banbury Road
Oxford
OX2 7JQ


COMPANY REGISTRATION NUMBER

03657618 England and Wales

CHERWELL PUBLISHING SERVICES LIMITED

BALANCE SHEET
AS AT 31 March 2017


	Notes	2017			2016
		£			£

FIXED ASSETS
Tangible assets	7			4		5

CURRENT ASSETS
Stock		1,290			1,290
Debtors	8	3,600			4,620
Cash at bank and in hand		7,918			6,936


		12,808			12,846

CREDITORS: Amounts falling due within one year	9	3,558			3,656
CREDITORS: Amounts falling due within one year


NET CURRENT ASSETS				9,250		9,190


NET ASSETS				9,254		9,195


CAPITAL AND RESERVES
Called up share capital				100		100
Distributable profit and loss account				9,154		9,095


SHAREHOLDERS' FUNDS				9,254		9,195


These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board of directors


N K Hardyman			R S H Hardyman
Director			Director

Date approved by the board: 12 December 2017



NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017


1	GENERAL INFORMATION

	Cherwell Publishing Services Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	Cranbrook House
	287-291 Banbury Road
	Oxford
	OX2 7JQ

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

	Furniture, fittings, tools and equipment	Reducing balance basis at 25% per annum

	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Financial Instruments

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

	Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.


	Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.


	Work in progress

	Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises the cost of materials and direct labour relevant to the stage of construction.

	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost using the effective interest method.

3	TRANSITION TO FRS 102

	This is the first year in which the financial statements have been prepared under FRS 102. Note 10 gives an explanation of the effects of the transition.

4	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

5	EMPLOYEES

	The average number of persons employed by the company (including directors) during the year was:

		2017		2016
	Average number of employees	2		2


7	TANGIBLE ASSETS
			Furniture, fittings, tools and equipment
				£
	Cost
	At 1 April 2016			715


	At 31 March 2017			715


	Accumulated depreciation
	At 1 April 2016			710

	Charge for year			1


	At 31 March 2017			711


	Net book value
	At 1 April 2016			5


	At 31 March 2017			4


8	DEBTORS
		2017		2016
		£		£
	Trade debtors	3,600		4,620


9	CREDITORS: Amounts falling due within one year
		2017		2016
		£		£
	Trade creditors	1,440		-
	Corporation tax	765		1,678
	Other taxation and social security	362		757
	Other creditors	991		1,221


		3,558		3,656

	Included in other creditors are advances from the directors of £141 (2016 = £371). These advances are interest free and have no fixed date of repayment.

10	RECONCILIATIONS ON ADOPTION OF FRS 102

	These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102. The date of transition to FRS 102 is 1 April 2015.

	Profit and loss for the year ended 31 March 2016	£
	Profit for the year under former UK GAAP	6,711


	Profit for the year under FRS 102	6,711


	Balance sheet at 31 March 2016	£
	Equity under former UK GAAP	9,195


	Equity under FRS 102	9,195


	Balance sheet at 1 April 2015	£
	Equity under former UK GAAP	4,484


	Equity under FRS 102	4,484

Cherwell Publishing Services Limited 03657618 false 2016-04-01 2017-03-31 2017-03-31 VT Final Accounts (tagged by user) February 2017 true No description of principal activity 03657618 2015-04-01 2016-03-31 03657618 core:WithinOneYear 2016-03-31 03657618 core:ShareCapital 2016-03-31 03657618 core:RetainedEarningsAccumulatedLosses 2016-03-31 03657618 core:CurrentFinancialInstruments 2016-03-31 03657618 2016-04-01 2017-03-31 03657618 bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 03657618 bus:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 03657618 bus:Director1 2016-04-01 2017-03-31 03657618 bus:Director2 2016-04-01 2017-03-31 03657618 bus:CompanySecretary1 2016-04-01 2017-03-31 03657618 bus:RegisteredOffice 2016-04-01 2017-03-31 03657618 core:FurnitureFittingsToolsEquipment 2016-04-01 2017-03-31 03657618 bus:FRS102 2016-04-01 2017-03-31 03657618 bus:FullAccounts 2016-04-01 2017-03-31 03657618 2017-03-31 03657618 core:WithinOneYear 2017-03-31 03657618 core:ShareCapital 2017-03-31 03657618 core:RetainedEarningsAccumulatedLosses 2017-03-31 03657618 core:FurnitureFittingsToolsEquipment 2017-03-31 03657618 core:CurrentFinancialInstruments 2017-03-31 03657618 2016-03-31 03657618 core:FurnitureFittingsToolsEquipment 2016-03-31 iso4217:GBP xbrli:pure