Neil Tully Associates Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05863023 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

NEIL TULLY ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N M Tully

Ms J Beruter

REGISTERED OFFICE:

62 Chaucer Road

Herne Hill

London

SE24 0NU

REGISTERED NUMBER:

05863023 (England and Wales)

ACCOUNTANTS:

Mitchell Glanville (Bristol) Limited

The Garden Suite

23 Westfield Park

Redland

Bristol

BS6 6LT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,210

3,248

1,210

3,248

CURRENT ASSETS

Debtors

6

92,190

100,737

Cash at bank

51,768

43,948

143,958

144,685

CREDITORS

Amounts falling due within one year

7

59,135

70,521

NET CURRENT ASSETS

84,823

74,164

TOTAL ASSETS LESS CURRENT LIABILITIES

86,033

77,412

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

8

86,031

77,410

SHAREHOLDERS' FUNDS

86,033

77,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18 January 2018 and were signed on its behalf by:

Ms J Beruter - Director

1.	STATUTORY INFORMATION

Neil Tully Associates 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.

Turnover

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

tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

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 etc

-

25% on cost and 20% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2016

and 30 April 2017

250,000

AMORTISATION

At 1 May 2016

and 30 April 2017

250,000

NET BOOK VALUE

At 30 April 2017

-

At 30 April 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2016

and 30 April 2017

2,324

57,762

60,086

DEPRECIATION

At 1 May 2016

1,550

55,288

56,838

Charge for year

193

1,845

2,038

At 30 April 2017

1,743

57,133

58,876

NET BOOK VALUE

At 30 April 2017

581

629

1,210

At 30 April 2016

774

2,474

3,248

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

as restated

£

£

Trade debtors

86,190

94,737

Other debtors

6,000

6,000

92,190

100,737

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

as restated

£

£

Taxation and social security

54,665

67,627

Other creditors

4,470

2,894

59,135

70,521

8.

RESERVES

Retained

earnings

£

At 1 May 2016

77,410

Profit for the year

98,621

Dividends

(90,000

)

At 30 April 2017

86,031

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2017 and 30 April 2016:

2017

2016

as restated

£

£

N M Tully and Ms J Beruter

Balance outstanding at start of year

764

471

Amounts advanced

91,280

102,280

Amounts repaid

(89,709

)

(101,987

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,335

764

Dividends of £90,000 (2016: £101,000) were paid to the directors during the year.

10.	ULTIMATE CONTROLLING PARTY

The company is under the joint control of N Tully and J Beruter.