Almeda (Holdings) Limited - Period Ending 2017-05-31
Almeda (Holdings) Limited - Period Ending 2017-05-31
Registration number:
for the Year Ended
Almeda (Holdings) Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Almeda (Holdings) Limited
(Registration number: 08848914)
Balance Sheet as at 31 May 2017
Note |
2017 |
2016 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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Page 1 |
Almeda (Holdings) Limited
(Registration number: 08848914)
Balance Sheet as at 31 May 2017
For the financial year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr B G George
Director
Page 2 |
Almeda (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 May 2017
General information |
The company is a private company limited by share capital incorporated in UK.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
There have been no changes to accounting policies following the transition to the Financial Reporting Standard 102 Section 1A.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The date of transition to FRS 102 Section 1A was 1 June 2015.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 3 |
Almeda (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 May 2017
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 4 |
Almeda (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 May 2017
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2017 |
2016 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 June 2016 |
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At 31 May 2017 |
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Carrying amount |
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At 31 May 2017 |
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At 31 May 2016 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2017 |
2016 |
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Subsidiary undertakings |
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Redwood House
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Ordinary |
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UK |
The principal activity of Almeda Facilities Limited is |
Page 5 |
Almeda (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 May 2017
Debtors |
2017 |
2016 |
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Other debtors |
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Prepayments and accrued income |
3,078 |
1,365 |
Total current trade and other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Bank loans and overdrafts |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
3,923 |
4,032 |
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Due after one year |
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Loans and borrowings |
- |
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Loans and borrowings |
2017 |
2016 |
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Non-current loans and borrowings |
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Bank borrowings |
- |
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Other borrowings |
- |
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- |
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Page 6 |
Almeda (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 May 2017
2017 |
2016 |
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Current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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Related party transactions |
Transactions with directors |
2017 |
At 1 June 2016 |
Advances to directors |
Repayments by director |
At 31 May 2017 |
Mr G M George |
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Directors current account |
80,220 |
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( |
- |
Mr B G George |
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Directors current account |
8,780 |
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( |
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2016 |
At 1 February 2015 |
Advances to directors |
Repayments by director |
At 31 May 2016 |
Mr G M George |
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Directors current account |
(900) |
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( |
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Mr B G George |
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Directors current account |
- |
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( |
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Dividends paid to directors |
2017 |
2016 |
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Mr G M George |
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Dividend |
36,000 |
115,000 |
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Mr B G George |
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Dividend |
9,000 |
100,000 |
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Transition to FRS 102 |
Page 7 |