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No description of principal activity
2016-02-01
Sage Accounts Production Advanced 2017 Update 3 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
08858078
2016-02-01
2017-03-31
08858078
2017-03-31
08858078
2016-01-31
08858078
2015-02-01
2016-01-31
08858078
2016-01-31
08858078
core:PlantMachinery
2016-02-01
2017-03-31
08858078
core:FurnitureFittings
2016-02-01
2017-03-31
08858078
bus:Director1
2016-02-01
2017-03-31
08858078
bus:Director2
2016-02-01
2017-03-31
08858078
core:WithinOneYear
2017-03-31
08858078
core:WithinOneYear
2016-01-31
08858078
core:AfterOneYear
2017-03-31
08858078
core:AfterOneYear
2016-01-31
08858078
core:ShareCapital
2017-03-31
08858078
core:ShareCapital
2016-01-31
08858078
core:RetainedEarningsAccumulatedLosses
2017-03-31
08858078
core:RetainedEarningsAccumulatedLosses
2016-01-31
08858078
bus:FRS102
2016-02-01
2017-03-31
08858078
bus:AuditExempt-NoAccountantsReport
2016-02-01
2017-03-31
08858078
bus:AbridgedAccounts
2016-02-01
2017-03-31
08858078
bus:SmallCompaniesRegimeForAccounts
2016-02-01
2017-03-31
08858078
bus:PrivateLimitedCompanyLtd
2016-02-01
2017-03-31
08858078
core:ComputerEquipment
2016-02-01
2017-03-31
|
Statement of Consent to Prepare Abridged Financial Statements |
|
All of the members of Boston Hale Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
08858078
|
Filleted Unaudited Abridged Financial Statements |
|
|
Abridged Financial Statements |
|
Period from 1 February 2016 to 31 March 2017
|
Abridged statement of financial position |
1 |
|
|
|
Notes to the abridged financial statements |
3 |
|
|
|
Abridged Statement of Financial Position |
|
31 March 2017
|
31 Mar 17 |
31 Jan 16 |
|
Note |
£ |
£ |
£ |
|
|
|
|
Fixed assets
|
Tangible assets |
5 |
|
114,315 |
142,061 |
|
|
|
|
|
Current assets
|
Debtors |
1,284,268 |
|
904,160 |
|
Cash at bank and in hand |
123,653 |
|
10,998 |
|
------------ |
|
--------- |
|
1,407,921 |
|
915,158 |
|
|
|
|
|
Creditors: amounts falling due within one year |
1,173,573 |
|
650,339 |
|
------------ |
|
--------- |
|
Net current assets |
|
234,348 |
264,819 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
348,663 |
406,880 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
|
24,167 |
37,500 |
|
|
--------- |
--------- |
|
Net assets |
|
324,496 |
369,380 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
521,773 |
521,772 |
|
Profit and loss account |
|
(
197,277) |
(
152,392) |
|
|
--------- |
--------- |
|
Shareholders funds |
|
324,496 |
369,380 |
|
|
--------- |
--------- |
|
|
|
|
These abridged 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 abridged statement of comprehensive income has not been delivered.
For the period ending 31 March 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 abridged financial statements for the period 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 abridged financial statements
.
|
Abridged Statement of Financial Position (continued) |
|
31 March 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
21 December 2017
, and are signed on behalf of the board by:
|
Mr G Hale |
Mr S P Hale |
|
Director |
Director |
|
|
Company registration number:
08858078
|
Notes to the Abridged Financial Statements |
|
Period from 1 February 2016 to 31 March 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 1-3 Pemberton Row, London, England, EC4A 3BG.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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:
|
Office Move |
- |
20% straight line |
|
IT Hardware & Software |
- |
33% straight line |
|
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Hedge accounting
Hedge accounting is used where the hedging relationship is designated, documented and expected to be highly effective, and is only used for specific risks, as defined by FRS 102 section 12. Where the hedged risk is the exposure to a fixed interest rate risk or foreign exchange risk of a debt instrument measured at amortised cost or the price risk of a commodity that it holds or has a firm commitment, the hedging instrument is recognised as an asset or liability with the change in fair value being recognised in profit or loss. The change in fair value of the hedged item related to the hedged risk is recognised in profit or loss and as an adjustment to the carrying amount of the hedged item. Where the hedged risk is the variable interest rate risk or foreign exchange risk in a debt instrument measured at amortised cost, the foreign exchange risk or interest rate risk in a firm commitment or highly probably forecast transaction, the commodity price risk in a highly probable forecast transaction or the foreign exchange risk in a net investment in a foreign operation, then the financial instrument is initially and subsequently recognised at fair value at each reporting date. Movements in fair value are recognised in other comprehensive income, to the extent that the hedge is effective. Any ineffective movements are recognised in profit or loss. Where the hedged risk is the variable or fixed interest rate risk of a debt instrument measured at amortised cost, the periodic net cash settlements on the interest rate swap are recognised in profit or loss in the period in which the net settlements accrue. Hedge accounting is discontinued where the hedging instrument expires, is sold or terminated, the hedge no longer meets the criteria for hedge accounting, the forecast transaction is no longer highly probable in a hedge of a forecast transaction, or the designation is revoked.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
19
(2016:
19
).
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 February 2016 |
163,837 |
|
Additions |
19,702 |
|
--------- |
|
At 31 March 2017 |
183,539 |
|
--------- |
|
Depreciation |
|
|
At 1 February 2016 |
24,090 |
|
Charge for the period |
45,134 |
|
--------- |
|
At 31 March 2017 |
69,224 |
|
--------- |
|
Carrying amount |
|
|
At 31 March 2017 |
114,315 |
|
--------- |
|
At 31 January 2016 |
139,747 |
|
--------- |
|
|
6.
Related party transactions
The company was under the control of the board of directors throughout the current year. The following undertakings are deemed to be related parties of the company as defined by Financial Reporting Standard 8, "Related Party Disclosures": Boston Hale Holdings Limited The balances at the year ended were: Amounts owed by related parties 2017 2016 £ £ Boston Hale Holdings Limted 60,078 176,134
