Exam SOS Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07293792 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

EXAM SOS LIMITED

TRADING AS

THE EXAMS OFFICE

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs H K Chima

Mrs R J Marr

REGISTERED OFFICE:

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

REGISTERED NUMBER:

07293792 (England and Wales)

ACCOUNTANTS:

SBCA Chartered Accountants

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

FIXED ASSETS

Tangible assets

4

10,003

13,734

CURRENT ASSETS

Stocks

1,104

5,055

Debtors

5

62,740

68,182

Cash at bank

52,029

65,917

115,873

139,154

CREDITORS

Amounts falling due within one year

6

(177,974

)

(137,419

)

NET CURRENT (LIABILITIES)/ASSETS

(62,101

)

1,735

TOTAL ASSETS LESS CURRENT LIABILITIES

(52,098

)

15,469

PROVISIONS FOR LIABILITIES

(1,967

)

(3,370

)

NET (LIABILITIES)/ASSETS

(54,065

)

12,099

CAPITAL AND RESERVES

Called up share capital

45

51

Capital redemption reserve

6

-

Retained earnings

(54,116

)

12,048

SHAREHOLDERS' FUNDS

(54,065

)

12,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 9 April 2018 and were signed on its behalf by:

Mrs R J Marr - Director

1.	STATUTORY INFORMATION

Exam SOS 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.

These accounts have been prepared on a going concern basis, on the understanding that the director's will continue to financially support the company during this period.

Turnover

Turnover represents the invoice value, net of value added tax, of goods sold, except in respect of subscription income where turnover is recognised when the company obtains the right to consideration. This is on a straight line basis over the period to which the subscription for membership relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Website development costs

-

33% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 3 .

4.	TANGIBLE FIXED ASSETS

Website

Fixtures

development

and

Computer

costs

fittings

equipment

Totals

£

£

£

£

COST

At 1 August 2016

14,115

4,346

7,615

26,076

Additions

-

295

4,845

5,140

At 31 July 2017

14,115

4,641

12,460

31,216

DEPRECIATION

At 1 August 2016

7,291

1,902

3,149

12,342

Charge for year

4,628

696

3,547

8,871

At 31 July 2017

11,919

2,598

6,696

21,213

NET BOOK VALUE

At 31 July 2017

2,196

2,043

5,764

10,003

At 31 July 2016

6,824

2,444

4,466

13,734

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

61,831

67,562

Prepayments

909

620

62,740

68,182

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade creditors

17,797

6,233

Tax

19,145

28,235

Social security and other taxes

142

188

VAT

20,834

20,085

Directors' current accounts

4,289

4,289

Accruals and deferred income

115,767

78,389

177,974

137,419

7.	RELATED PARTY DISCLOSURES

During the year dividends of £102,000 (2016: £72,000) were paid to the director's and their spouses. During the year The Exams Support Group Limited and Exams Officer Training Limited supplied the company with £37,940 (2016: £8,750) and £24,975 (2016: £nil) respectively for subject matter and expertise, and resource development and administration.

8.	ULTIMATE CONTROLLING PARTY

In the opinion of the director's the company is controlled by the director's.

9.	TRANSITION TO FRS 102

A transitional report has not been included in the financial statements as no significant adjustments were required.