Pelagos - Limited company accounts 18.1d

REGISTERED NUMBER: 06972204 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 July 2017

for

Pelagos

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Abridged Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

N S Gallant

L Cartwright

SECRETARY:

C Scott

REGISTERED OFFICE:

6a St Andrews Court

Wellington Street

Thame

Oxfordshire

OX9 3WT

REGISTERED NUMBER:

06972204 (England and Wales)

ACCOUNTANTS:

Fizz Accounting Limited

6a St Andrews Court

Wellington Street

Thame

Oxfordshire

OX9 3WT

The directors present their report with the financial statements of the company for the year ended 31 July 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the advancement of the Christian religion in

particular, but not exclusively, by providing the public with an environment for spiritual exploration and development,

and is based in Prestwood, Buckinghamshire. Pelagos welcomes all people whatever their belief, background, or

understanding.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 August 2016 to the date of this

report.

N S Gallant

L Cartwright

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to

small companies.

ON BEHALF OF THE BOARD:

N S Gallant - Director

26 April 2018

TURNOVER

9,010

7,960

Administrative expenses

3,341

8,405

OPERATING SURPLUS/(DEFICIT) and

SURPLUS/(DEFICIT) BEFORE TAXATION

5,669

(445

)

Tax on surplus/(deficit)

-

-

SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR

5,669

(445

)

CURRENT ASSETS

Debtors

722

484

Cash at bank

6,482

1,191

7,204

1,675

CREDITORS

Amounts falling due within one year

440

580

NET CURRENT ASSETS

6,764

1,095

TOTAL ASSETS LESS CURRENT LIABILITIES

6,764

1,095

RESERVES

Income and expenditure account

6,764

1,095

6,764

1,095

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 surplus or deficit 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2017 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements were approved by the Board of Directors on 26 April 2018 and were signed on its behalf by:

N S Gallant - Director

1.	STATUTORY INFORMATION

Pelagos is a private company, limited by guarantee , 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.

Turnover

Turnover represents income from donations, room rentals, and course fees.

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 surplus or deficit on a straight line basis over the period of

the lease.