Northwest Door Security Limited Company Accounts

Northwest Door Security Limited Company Accounts

NORTHWEST DOOR SECURITY LTD - Company Information

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COMPANY REGISTRATION NUMBER: 07999326
NORTHWEST DOOR SECURITY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2017
NORTHWEST DOOR SECURITY LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2017
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
NORTHWEST DOOR SECURITY LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2017
2017
2016
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
1,000
1,200
CURRENT ASSETS
Debtors
6
12,923
10,923
CREDITORS: amounts falling due within one year
7
13,832
12,084
--------
--------
NET CURRENT LIABILITIES
909
1,161
-------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
91
39
----
----
NET ASSETS
91
39
----
----
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
89
37
----
----
SHAREHOLDERS FUNDS
91
39
----
----
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 statement of income and retained earnings has not been delivered.
For the year 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 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 .
NORTHWEST DOOR SECURITY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2017
These financial statements were approved by the board of directors and authorised for issue on 14 December 2017 , and are signed on behalf of the board by:
W. Raza
Director
Company registration number: 07999326
NORTHWEST DOOR SECURITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 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 Guardian House, 42 Preston New Road, Blackburn, Lancashire, BB2 6AH.
2. STATEMENT OF COMPLIANCE
These 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
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
(c) Revenue recognition
The turnover shown in the profit and loss account represents the invoice value of goods supplied and services provided during the year, exclusive of Value Added Tax.
(d) Taxation
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.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) 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
-
10% per annum reducing balance
(g) Financial instruments
Basic financial instruments are recognised at amortised cost.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2016: 2 ).
5. TANGIBLE ASSETS
Equipment
Total
£
£
Cost
At 1 April 2016 and 31 March 2017
2,000
2,000
-------
-------
Depreciation
At 1 April 2016
800
800
Charge for the year
200
200
-------
-------
At 31 March 2017
1,000
1,000
-------
-------
Carrying amount
At 31 March 2017
1,000
1,000
-------
-------
At 31 March 2016
1,200
1,200
-------
-------
6. DEBTORS
2017
2016
£
£
Trade debtors
673
–
Other debtors
12,250
10,923
--------
--------
12,923
10,923
--------
--------
7. CREDITORS: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
6,818
5,328
Trade creditors
3,847
3,182
Accruals and deferred income
2,000
2,120
Corporation tax
688
1,260
Social security and other taxes
479
194
--------
--------
13,832
12,084
--------
--------
8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
There are no transactions with directors that require disclosure under FRS 102.
9. RELATED PARTY TRANSACTIONS
The company was under the control of the director, Mr W. Raza , throughout the year. During the year the company paid dividends to the directors amounting to £2,500.
10. TRANSITION TO FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.