Company Registration No. 07832656 (England and Wales)
APASSOC Ltd
Unaudited accounts
for the year ended 31 March 2017
APASSOC Ltd
Unaudited accounts
Contents
APASSOC Ltd
Company Information
for the year ended 31 March 2017
Director
Andrew Neil Pritchard
Company Number
07832656 (England and Wales)
Registered Office
Forest Cottage
New Barn Lane
Buriton
Petersfield
GU31 5SL
Accountants
Mad About Book-Keeping
The Parade
Petersfield Road
Whitehill
Hampshire
GU35 9AR
APASSOC Ltd
Statement of financial position
as at 31 March 2017
Intangible assets
50,000
50,000
Cash at bank and in hand
8
2,770
Creditors: amounts falling due within one year
(46,065)
(52,583)
Net current liabilities
(46,057)
(49,813)
Called up share capital
100
100
Profit and loss account
3,843
87
Shareholders' funds
3,943
187
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 21 December 2017.
Andrew Neil Pritchard
Director
Company Registration No. 07832656
APASSOC Ltd
Notes to the Accounts
for the year ended 31 March 2017
APASSOC Ltd is a private company, limited by shares, registered in England and Wales, registration number 07832656. The registered office is Forest Cottage, New Barn Lane, Buriton, Petersfield, GU31 5SL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Income from participating interest
Income from participating interests arises from being a member of a LLP carrying out a trade of providing English language programme courses for students from abroad.
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Investments in participating interests
Investments held as fixed assets are shown at cost less provision for impairment.
APASSOC Ltd
Notes to the Accounts
for the year ended 31 March 2017
4
Intangible fixed assets
Goodwill
Participating interests
The following associate accounted for in excess of 15% of the company's gross assets, gross liabilities, turnover or (on a three year average) operating results:
Elizabeth Johnson Organisation LLP
Share of Turnover £116,967 (2016 - £203,055)
Share of profit before tax £11,568 (2016 - £29,027)
Share of taxation £0 (2016 - £0)
Share of profit after tax £11,568 (2016 - £29,027)
Share of assets
Fixed Assets £183 (2016 - £97)
Current Assets £7,956 (2016 - £21,656)
Share of liabilities
Due within one year or less (11,638) (2016 - (£22,022))
Share of net liabilities (£3,179) (2016 - (£269))
6
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
2,145
5,701
Other creditors
27,932
22,737
Loans from directors
15,388
23,545
APASSOC Ltd
Notes to the Accounts
for the year ended 31 March 2017
Allotted, called up and fully paid:
65 A Ordinary shares of £1 each
65
65
20 B Ordinary shares of £1 each
20
20
5 C Ordinary shares of £1 each
5
5
5 D Ordinary shares of £1 each
5
5
5 E Ordinary shares of £1 each
5
5
8
Transactions with related parties
Income of £11,568 (2016 - £29,027) arose from Elizabeth Johnson Organisation LLP, a limited liability partnership in which the company is a member. At the year end the company owed Elizabeth Johnson Organisation £27,932 (2015 - £22,737)
At the year end, the Director Mr A N Pritchard was owed £15.388 (2016 - £23,545). The loan to the company is unsecured and interest free with no fixed date of repayment
In the year dividends of £5,000 (2016 - £23,000) were paid in respect of Class A shares
Mr A N Pritchard is the controlling party of the company.
10
Average number of employees
During the year the average number of employees was 0 (2016: 0).
