Rachel Chudley Interior Designs Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09729196 (England and Wales)

RACHEL CHUDLEY INTERIOR DESIGNS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Miss R Chudley

SECRETARY:

N L Kaufman

REGISTERED OFFICE:

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

REGISTERED NUMBER:

09729196 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

4

5,555

5,648

CURRENT ASSETS

Debtors

5

42,268

68,332

Cash at bank and in hand

1,513

143,535

43,781

211,867

CREDITORS

Amounts falling due within one year

6

28,162

202,527

NET CURRENT ASSETS

15,619

9,340

TOTAL ASSETS LESS CURRENT LIABILITIES

21,174

14,988

PROVISIONS FOR LIABILITIES

1,088

1,130

NET ASSETS

20,086

13,858

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

19,986

13,758

SHAREHOLDERS' FUNDS

20,086

13,858

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 5 March 2018 and were signed by:

Miss R Chudley - Director

1.	STATUTORY INFORMATION

Rachel Chudley Interior Designs 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Improvements to property

-

not provided

Computer equipment

-

25% on reducing balance

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.

Debtors and creditors

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Computer

property

equipment

Totals

£

£

£

COST

At 1 September 2016

4,378

1,693

6,071

Additions

-

300

300

At 31 August 2017

4,378

1,993

6,371

DEPRECIATION

At 1 September 2016

-

423

423

Charge for year

-

393

393

At 31 August 2017

-

816

816

NET BOOK VALUE

At 31 August 2017

4,378

1,177

5,555

At 31 August 2016

4,378

1,270

5,648

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

15,023

20,952

Other debtors

27,245

47,380

42,268

68,332

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Payments on account

-

131,235

Trade creditors

2,878

57,333

Taxation and social security

17,868

11,518

Other creditors

7,416

2,441

28,162

202,527

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

9,000

-

Between one and five years

24,000

-

33,000

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1.00

100

100

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Miss R Chudley.

10.	TRANSITION TO FRS 102 1A

This is the first year that the company has presented its results under FRS 102 1A. The last financial statements

under UK GAAP were for the period ended 31 August 2016. The date of transition to FRS 102 1A was

12 August 2015. No accounting policies have changed and no adjustments made due to the change.