Ashar Hassan Associates Limited - Accounts to registrar (filleted) - small 17.3
Ashar Hassan Associates Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| FOR |
| ASHAR HASSAN ASSOCIATES LIMITED |
| ASHAR HASSAN ASSOCIATES LIMITED (REGISTERED NUMBER: 08068236) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ASHAR HASSAN ASSOCIATES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Fernwood House |
| Fernwood Road |
| Jesmond |
| Newcastle upon Tyne |
| NE2 1TJ |
| BANKERS: |
| King Street |
| South Shields |
| Tyne and Wear |
| NE33 1DT |
| ASHAR HASSAN ASSOCIATES LIMITED (REGISTERED NUMBER: 08068236) |
| BALANCE SHEET |
| 31 MAY 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| ASHAR HASSAN ASSOCIATES LIMITED (REGISTERED NUMBER: 08068236) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 1. | STATUTORY INFORMATION |
| Ashar Hassan Associates Limited is a |
| Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The financial statements are rounded to the nearest £1. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company adopted FRS 102 1A in the current year and an explanation of how transition to FRS |
| 102 1A has affected the reported financial position and performance is given in the notes to the |
| financial statements.. |
| The significant accounting policies applied in the preparation of these financial statements are set out |
| below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover represents invoiced sales of services (which are exempt supplies for VAT purposes). |
| Tangible fixed assets |
| Plant and machinery | - |
| Computer equipment | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation |
| and accumulated impairment losses. Cost includes costs directly attributable to making the asset |
| capable of operating as intended. |
| 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. |
| ASHAR HASSAN ASSOCIATES LIMITED (REGISTERED NUMBER: 08068236) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Deferred taxation |
| 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. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are |
| recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
| account in other administrative expenses. |
| Impairment of assets |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
| each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's |
| cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
| exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is |
| carried at a revalued amount where the impairment loss is a revaluation decrease. |
| Provisions |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of |
| a past event, it is probable that an outflow of economic benefits will be required in settlement and the |
| amount can be reliably estimated. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 May 2017 |
| DEPRECIATION |
| At 1 June 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| ASHAR HASSAN ASSOCIATES LIMITED (REGISTERED NUMBER: 08068236) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Director's current account | - | 24,514 |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Corporation tax |
| Director's current account | 123 | - |
| Accrued expenses |
| 8. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances | 655 | 205 |
| Deferred |
| tax |
| £ |
| Balance at 1 June 2016 |
| Charge to Income Statement during year |
| Balance at 31 May 2017 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 75 | 75 |
| Ordinary 'A' | £1 | 25 | 25 |
| 100 | 100 |
| ASHAR HASSAN ASSOCIATES LIMITED (REGISTERED NUMBER: 08068236) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 May 2017 and |
| 31 May 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest is chargeable on the above loan using the HMRC official rate of interest which was 3% for the |
| period in question. During the year interest of £440 (2016: £799) was charged. |
| 11. | RELATED PARTY DISCLOSURES |
| Key management personnel of the entity (in the aggregate) |
| 2017 | 2016 |
| £ | £ |
| Amount due to related party | 123 | - |
| 12. | FIRST YEAR ADOPTION |
| The company has adopted FRS 102 Section 1A for the first time in the year ended 31 May 2017. |
| The director has considered the consequential changes in accounting policies resulting from the |
| adoption of FRS 102 Section 1A and has concluded that no transition adjustments are required. |
| Therefore, no restatement of previous years' figures is required. The date of transition to FRS102 |
| Section 1A was 1 June 2015. |