CITY A/C LIMITED

CITY A/C LIMITED

CITY A/C LIMITED - Company Information

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CITY A/C LIMITED

Company Registration Number:
10338080 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2017

Period of accounts

Start date: 19 August 2016

End date: 31 December 2017

CITY A/C LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2017

Balance sheet
Notes

CITY A/C LIMITED

Balance sheet

As at 31 December 2017


Notes
16 months to 31 December 2017


£
Fixed assets
Tangible assets: 3 20,231
Total fixed assets: 20,231
Current assets
Debtors: 4 90,554
Cash at bank and in hand: 4,537
Total current assets: 95,091
Creditors: amounts falling due within one year: 5 (140,852)
Net current assets (liabilities): (45,761)
Total assets less current liabilities: (25,530)
Total net assets (liabilities): (25,530)
Capital and reserves
Called up share capital: 100
Profit and loss account: (25,630)
Shareholders funds: (25,530)

The notes form part of these financial statements

CITY A/C LIMITED

Balance sheet statements

For the year ending 31 December 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 March 2018
and signed on behalf of the board by:

Name: P Tyler
Status: Director

The notes form part of these financial statements

CITY A/C LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows Fix,Fitt & Equip and MV both 25% reducing balance. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Other accounting policies

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

CITY A/C LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

2. Employees

16 months to 31 December 2017
Average number of employees during the period 4

CITY A/C LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

3. Tangible Assets

Total
Cost £
Additions 26,974
At 31 December 2017 26,974
Depreciation
Charge for year 6,743
At 31 December 2017 6,743
Net book value
At 31 December 2017 20,231

CITY A/C LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

4. Debtors

Trade Debtors £88,904 Other Debtors £1,650

CITY A/C LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

5. Creditors: amounts falling due within one year note

Bank Loans and Overdrafts £167 Trade Creditors £104,214 Social Security and Other Taxes £25,578 Other Creditors £10,893