Accounts filed on 30-11-2017

Accounts filed on 30-11-2017

OWENS & ASSOCIATES LIMITED - Company Information

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Registered number: 4978579
Owens & Associates Limited
ACCOUNTS
FOR THE YEAR ENDED 30/11/2017
Prepared By:
Owens & Associates Ltd
Chartered Certified Accountants
40A Market Square
St Neots
Cambs
PE19 2AF
Owens & Associates Limited
ACCOUNTS
FOR THE YEAR ENDED 30/11/2017
DIRECTORS
Mr J F Owens
REGISTERED OFFICE
40A Market Square
St Neots
Cambs
PE19 2AF
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 4978579
ACCOUNTANTS
Owens & Associates Ltd
Chartered Certified Accountants
40A Market Square
St Neots
Cambs
PE19 2AF
Owens & Associates Limited
ACCOUNTS
FOR THEYEARENDED30/11/2017
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Owens & Associates Limited
BALANCE SHEET AT 30/11/2017
20172016
Notes££
FIXED ASSETS
Intangible assets277,00078,000
Tangible assets320,09426,850
97,094104,850
CURRENT ASSETS
Debtors426,50039,067
Cash at bank and in hand8515
26,58539,082
CREDITORS: Amounts falling due within one year582,29385,872
NET CURRENT LIABILITIES(55,708)(46,790)
TOTAL ASSETS LESS CURRENT LIABILITIES41,38658,060
CREDITORS: Amounts falling due after more than one year637,21538,436
NET ASSETS4,17119,624
CAPITAL AND RESERVES
Called up share capital8101101
Profit and loss account4,07019,523
SHAREHOLDERS' FUNDS4,17119,624
For the year ending 30/11/2017 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 12/01/2018 and signed on their behalf by
.............................
Mr J F Owens
Director
Owens & Associates Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/11/2017
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentreducing balance 25%
Motor Carsreducing balance 25%
1c. Pension Costs
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
1d. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
2. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 01/12/2016160,000160,000
At 30/11/2017160,000160,000
Depreciation
At 01/12/201682,00082,000
For the year1,0001,000
At 30/11/201783,00083,000
Net Book Amounts
At 30/11/201777,00077,000
At 30/11/201678,00078,000
Owens & Associates Limited
3. TANGIBLE FIXED ASSETS
EquipmentMotor CarsTotal
£££
Cost
At 01/12/20165,55632,83938,395
Additions350-350
Disposals(1,164)-(1,164)
At 30/11/20174,74232,83937,581
Depreciation
At 01/12/20163,3358,21011,545
Disposals(857)-(857)
For the year6426,1576,799
At 30/11/20173,12014,36717,487
Net Book Amounts
At 30/11/20171,62218,47220,094
At 30/11/20162,22124,62926,850
4. DEBTORS 20172016
££
Amounts falling due within one year
Trade debtors26,50039,067
26,50039,067
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20172016
££
UK corporation tax10,15310,358
VAT11,43813,091
Directors current account2,0311,929
Bank loans and overdrafts14,32216,496
Bank Loan7,5967,596
Hire purchase6,0126,012
Trade creditors6,5456,146
Other creditors20,01821,133
Accruals4,1783,111
82,29385,872
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20172016
££
Loans >1yr22,97519,705
Hire purchase >1yr14,24018,731
37,21538,436
Owens & Associates Limited
7. EMPLOYEES
20172016
No.No.
Average number of employees4-
8. SHARE CAPITAL 20172016
££
Allotted, issued and fully paid:
1 Ordinary shares of £1 each11
100 Class A shares of £1 each100100
101101