Asset Recovery & Insolvency Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08959246 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

ASSET RECOVERY & INSOLVENCY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S J Woodhams

Mrs K A L Woodhams

REGISTERED OFFICE:

c/o Khan Morris Accountants Ltd

Empress Heights

College Street

Southampton

Hampshire

SO14 3LA

REGISTERED NUMBER:

08959246 (England and Wales)

ACCOUNTANTS:

Khan Morris Accountants Limited

Empress Heights

College Street

Southampton

Hampshire

SO14 3LA

FIXED ASSETS

Intangible assets

4

-

25,000

Tangible assets

5

10,070

12,615

10,070

37,615

CURRENT ASSETS

Debtors

6

91,192

62,436

Cash at bank

18,386

18,091

109,578

80,527

CREDITORS

Amounts falling due within one year

7

96,739

95,552

NET CURRENT ASSETS/(LIABILITIES)

12,839

(15,025

)

TOTAL ASSETS LESS CURRENT LIABILITIES

22,909

22,590

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

22,809

22,490

SHAREHOLDERS' FUNDS

22,909

22,590

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 December 2017 and were signed on its behalf by:

Mr S J Woodhams - Director

Mrs K A L Woodhams - Director

1.	STATUTORY INFORMATION

Asset Recovery & Insolvency Ltd is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

100,000

AMORTISATION

At 1 April 2016

75,000

Amortisation for year

25,000

At 31 March 2017

100,000

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

25,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

COST

At 1 April 2016

19,142

-

19,142

Additions

-

765

765

At 31 March 2017

19,142

765

19,907

DEPRECIATION

At 1 April 2016

6,527

-

6,527

Charge for year

3,155

155

3,310

At 31 March 2017

9,682

155

9,837

NET BOOK VALUE

At 31 March 2017

9,460

610

10,070

At 31 March 2016

12,615

-

12,615

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

31,314

48,632

Amounts owed by group undertakings

57,840

12,518

Other debtors

2,038

1,286

91,192

62,436

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

18,361

3,925

Trade creditors

-

240

Taxation and social security

9,324

25,303

Other creditors

69,054

66,084

96,739

95,552

8.	SECURED DEBTS

National Westminster Bank PLC have a floating charge over all of the property or undertaking of the

company.

Full details of all charges can be found on Companies House website.