Selberg Co. Limited Small abridged accounts

SELBERG CO.LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2016-04-01 Sage Accounts Production Advanced 2017 Update 4 - FRS xbrli:pure xbrli:shares iso4217:GBP 0612358 2016-04-01 2017-03-31 0612358 2017-03-31 0612358 2015-04-01 2016-03-31 0612358 2016-03-31 0612358 bus:Director1 2016-04-01 2017-03-31 0612358 core:OtherReservesSubtotal 2015-04-01 2016-03-31 0612358 core:RetainedEarningsAccumulatedLosses 2015-04-01 2016-03-31 0612358 core:OtherReservesSubtotal 2016-04-01 2017-03-31 0612358 core:RetainedEarningsAccumulatedLosses 2016-04-01 2017-03-31 0612358 core:WithinOneYear 2017-03-31 0612358 core:WithinOneYear 2016-03-31 0612358 core:ShareCapital 2017-03-31 0612358 core:ShareCapital 2016-03-31 0612358 core:OtherReservesSubtotal 2017-03-31 0612358 core:OtherReservesSubtotal 2016-03-31 0612358 core:RetainedEarningsAccumulatedLosses 2017-03-31 0612358 core:RetainedEarningsAccumulatedLosses 2016-03-31 0612358 core:ShareCapital 2015-03-31 0612358 core:RetainedEarningsAccumulatedLosses 2015-03-31 0612358 core:RestatedAmount 2015-03-31 0612358 core:RestatedAmount 2016-03-31 0612358 core:CostValuation core:Non-currentFinancialInstruments 2017-03-31 0612358 core:Non-currentFinancialInstruments 2017-03-31 0612358 core:Non-currentFinancialInstruments 2016-03-31 0612358 bus:FRS102 2016-04-01 2017-03-31 0612358 bus:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 0612358 bus:AbridgedAccounts 2016-04-01 2017-03-31 0612358 bus:SmallCompaniesRegimeForAccounts 2016-04-01 2017-03-31 0612358 bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31

Statement of Consent to Prepare Abridged Financial Statements

All of the members of Selberg Co. Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 0612358

Selberg Co. Limited

Filleted Unaudited Abridged Financial Statements

31 March 2017

Selberg Co. Limited

Abridged Financial Statements

Year ended 31 March 2017

Contents	Page

Abridged statement of financial position	1

Statement of changes in equity	2

Notes to the abridged financial statements	3

Selberg Co. Limited

Abridged Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	4	331,492	331,492
Investments	5	10	10
		---------	---------
		331,502	331,502

Current assets

Debtors	6,975		6,975

Creditors: amounts falling due within one year	334,593		334,293
	---------		---------
Net current liabilities		327,618	327,318
		---------	---------
Total assets less current liabilities		3,884	4,184
		-------	-------

Capital and reserves

Called up share capital	100	100
Other reserves	9,680	9,680
Profit and loss account	( 5,896)	( 5,596)
	-------	-------
Shareholders funds	3,884	4,184
	-------	-------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

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

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 13 March 2018 , and are signed on behalf of the board by:

Mrs D. Feldman
Director

Company registration number: 0612358

Selberg Co. Limited

Statement of Changes in Equity

Year ended 31 March 2017

	Called up share capital	Other reserves	Profit and loss account	Total
	£	£	£	£
At 1 April 2015	100	–	( 5,506)	( 5,406)

Loss for the year			( 90)	( 90)
	----	----	-------	-------
Total comprehensive income for the year	–	–	( 90)	( 90)

Issue of bonus shares	–	9,680	–	9,680
	----	-------	-------	-------
Total investments by and distributions to owners	–	9,680	–	9,680

At 31 March 2016	100	–	( 5,596)	( 5,496)

Loss for the year			( 300)	( 300)
	----	-------	-------	-------
Total comprehensive income for the year	–	–	( 300)	( 300)

Issue of bonus shares	–	9,680	–	9,680
	----	-------	----	-------
Total investments by and distributions to owners	–	9,680	–	9,680

	----	-------	-------	-------
At 31 March 2017	100	9,680	( 5,896)	3,884
	----	-------	-------	-------

Selberg Co. Limited

Notes to the Abridged Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House,, 1 Hallswelle Road,, London,, NW11 ODH.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Tangible assets

	£
Cost
At 1 April 2016 and 31 March 2017	331,492
	---------
Depreciation
At 1 April 2016 and 31 March 2017	–
	---------
Carrying amount
At 31 March 2017	331,492
	---------
At 31 March 2016	331,492
	---------

5. Investments

	£
Cost
At 1 April 2016 and 31 March 2017	10
	----
Impairment
At 1 April 2016 and 31 March 2017	–
	----
Carrying amount
At 31 March 2017	10
	----
At 31 March 2016	10
	----

6. Related party transactions

Loan account balances with related companies are shown seperately in the debtors and creditors notes to the accounts.

7. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.