Paul Starkey Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07917227 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

PAUL STARKEY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Starkey

REGISTERED OFFICE:

250 Hendon Way

London

NW4 3NL

REGISTERED NUMBER:

07917227 (England and Wales)

ACCOUNTANTS:

Harford Michaels Kaye Limited

Chartered Certified Accountants

250 Hendon Way

London

NW4 3NL

FIXED ASSETS

Tangible assets

4

3,200

1,360

CURRENT ASSETS

Debtors

5

1,335

1,924

Cash at bank

8,666

14,566

10,001

16,490

CREDITORS

Amounts falling due within one year

6

(9,051

)

(12,316

)

NET CURRENT ASSETS

950

4,174

TOTAL ASSETS LESS CURRENT LIABILITIES

4,150

5,534

PROVISIONS FOR LIABILITIES

7

(640

)

-

NET ASSETS

3,510

5,534

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

3,410

5,434

SHAREHOLDERS' FUNDS

3,510

5,534

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 19 December 2017 and were signed by:

P Starkey - Director

1.	STATUTORY INFORMATION

Paul Starkey Limited 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.

These financial statements for the year ended 31st March 2017 are the first financial statements that comply with FRS

102 Section 1A for small entities. The date of transition is 1st April 2015.

The transition to FRS 102 Section 1A for small entities has resulted in a small number of changes in accounting policies

to those used previously.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and

directors loans.

Directors loans (being repayable on demand), are measured at the undiscounted amount of the cash or other

consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the

Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance

sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions

are calculated on a discounted basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments

that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

2,307

Additions

2,906

At 31 March 2017

5,213

DEPRECIATION

At 1 April 2016

947

Charge for year

1,066

At 31 March 2017

2,013

NET BOOK VALUE

At 31 March 2017

3,200

At 31 March 2016

1,360

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,335

1,924

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

8,992

10,515

Other creditors

59

1,801

9,051

12,316

7.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Accelerated capital allowances

640

-

Deferred

tax

£

Charge to Income Statement during year

640

Balance at 31 March 2017

640

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 April 2016

5,434

Profit for the year

30,076

Dividends

(32,100

)

At 31 March 2017

3,410

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £32,100 were paid to the director .

As at the balance sheet date th company owed the director P Starkey £59 (2016 - £1,801).

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Starkey by virtue of his 100% shareholding in the company.

12.	FIRST YEAR ADOPTION

These financial statements for the year ended 31st March 2017 are the first financial statements that comply with FRS

102 Section 1A for small entities. The transition to FRS 102 Section 1A for small entities has resulted in a small number

of changes in accounting policies to those used previously.