WJF Traction Consulting Limited - Limited company accounts 17.3

WJF TRACTION CONSULTING LIMITED - Company Information

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REGISTERED NUMBER: 06370106 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

WJF TRACTION CONSULTING LIMITED

Page

Company Information

Report of the Director

Chartered Accountants' Report

Income Statement

Statement of Financial Position

Notes to the Financial Statements

DIRECTOR:

W J Fonseca

REGISTERED OFFICE:

75 Park Lane

Croydon

Surrey

CR9 1XS

REGISTERED NUMBER:

06370106 (England and Wales)

ACCOUNTANTS:

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

The director presents his report with the financial statements of the company for the year ended 30 September 2017.

PRINCIPAL ACTIVITY

The principal activity of the company during the year continued to be that of traction consultancy services.

DIRECTOR

W J Fonseca held office during the whole of the period from 1 October 2016 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

THIS REPORT WAS APPROVED BY THE BOARD:

W J Fonseca - Director

30 January 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of WJF Traction Consulting Limited for the year ended 30 September 2017 which comprise the

Income Statement, Statement of Financial Position and the related notes from the company's accounting records and

from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of WJF Traction Consulting Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of WJF Traction Consulting Limited and state those matters that we have agreed to state to the director of WJF Traction Consulting Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WJF Traction Consulting Limited and its director for our work or for this report.

It is your duty to ensure that WJF Traction Consulting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of WJF Traction Consulting Limited. You consider that WJF Traction Consulting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of WJF Traction Consulting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

31 January 2018

TURNOVER

156,354

144,548

Administrative expenses

70,998

58,658

OPERATING PROFIT

85,356

85,890

Interest receivable and similar income

216

Interest payable and similar expenses

(158

)

PROFIT BEFORE TAXATION

85,253

86,106

Tax on profit

17,670

17,968

PROFIT FOR THE FINANCIAL YEAR

67,583

68,138

FIXED ASSETS

Tangible assets

1,139

1,129

CURRENT ASSETS

Debtors

5,778

1,721

Cash in hand

94,816

68,600

100,594

70,321

CREDITORS

Amounts falling due within one year

97,843

62,634

NET CURRENT ASSETS

2,751

7,687

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,890

8,816

PROVISIONS FOR LIABILITIES

217

226

NET ASSETS

3,673

8,590

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

3,573

8,490

SHAREHOLDERS' FUNDS

3,673

8,590

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

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

The director acknowledges his 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 30 January 2018 and were signed by:

W J Fonseca - Director

1.	STATUTORY INFORMATION

WJF Traction Consulting 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 September 2017 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 1 October 2015.

Turnover

Turnover represents the amounts derived from providing traction consultancy services, net of Value Added Tax.

Tangible fixed assets

The cost of fixed assets is their purchase cost, together with any incidental expenses of acquisition. Depreciation

is provided so as to write off the cost of tangible fixed assets less their estimated residual values on a straight line

basis over the assets estimated economic life. The principal rates used are as follows:

Computer Equipment - 25%

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average monthly number of employees during the year was 2 (2016 - 2 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2017

2016

Depreciation - owned assets

710

570

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2017

2016

Current tax:

UK corporation tax

17,679

17,932

Deferred tax

)

Tax on profit

17,670

17,968

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

COST

At 1 October 2016

7,458

Additions

597

123

720

At 30 September 2017

597

7,581

8,178

DEPRECIATION

At 1 October 2016

6,329

Charge for year

612

710

At 30 September 2017

6,941

7,039

NET BOOK VALUE

At 30 September 2017

499

640

1,139

At 30 September 2016

1,129

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Trade debtors

4,050

Section 455 Tax

1,721

Other taxes & social security

5,778

1,721

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Corporation tax

35,611

17,932

Other creditors

30,300

300

Director's loan account

18,331

34,185

Other taxes & social security

9,524

6,368

Accruals

1,503

1,275

Childcare vouchers

2,574

97,843

62,634

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

100

Ordinary

£1

100

10.

RESERVES

Retained

earnings

At 1 October 2016

8,490

Profit for the year

67,583

Dividends

(72,500

)

At 30 September 2017

3,573