Sharples Avenue Limited - Period Ending 2017-10-31
Sharples Avenue Limited - Period Ending 2017-10-31
Registration number:
Sharples Avenue Limited
for the Period from 12 October 2016 to 31 October 2017
Certified
Vermont House
Bradley Lane
Standish
Wigan
WN6 0XF
Sharples Avenue Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Sharples Avenue Limited
Company Information
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Directors |
Mr Sean Hughes Mr Barry Silvert |
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Registered office |
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Accountants |
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Page 1 |
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Sharples Avenue Limited
for the Period Ended 31 October 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sharples Avenue Limited for the period ended 31 October 2017 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of Sharples Avenue Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Sharples Avenue Limited and state those matters that we have agreed to state to the Board of Directors of Sharples Avenue Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sharples Avenue Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Sharples Avenue Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sharples Avenue Limited. You consider that Sharples Avenue Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Sharples Avenue Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Certified
Bradley Lane
Standish
Wigan
WN6 0XF
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Page 2 |
Sharples Avenue Limited
(Registration number: 10423967)
Balance Sheet as at 31 October 2017
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Note |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial period ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
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Page 3 |
Sharples Avenue Limited
(Registration number: 10423967)
Balance Sheet as at 31 October 2017
Approved and authorised by the
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Mr Barry Silvert
Director
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Page 4 |
Sharples Avenue Limited
Notes to the Financial Statements for the Period from 12 October 2016 to 31 October 2017
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General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Property |
No depreciation charged |
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Page 5 |
Sharples Avenue Limited
Notes to the Financial Statements for the Period from 12 October 2016 to 31 October 2017
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Tangible assets |
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Land and buildings |
Total |
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Cost or valuation |
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Additions |
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At 31 October 2017 |
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Depreciation |
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Carrying amount |
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At 31 October 2017 |
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Included within the net book value of land and buildings above is £155,000 in respect of freehold land and buildings.
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Page 6 |
Sharples Avenue Limited
Notes to the Financial Statements for the Period from 12 October 2016 to 31 October 2017
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Creditors |
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Note |
2017 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
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Page 7 |