49 Muswell Hill RTM Company Limited 31/10/2017 iXBRL

49 Muswell Hill RTM Company Limited 31/10/2017 iXBRL

49 MUSWELL HILL RTM COMPANY LIMITED - Company Information

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Company registration number: 09261838
49 Muswell Hill RTM Company Limited
Company limited by guarantee
Unaudited filleted financial statements
31 October 2017
49 Muswell Hill RTM Company Limited
Company limited by guarantee
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
49 Muswell Hill RTM Company Limited
Company limited by guarantee
Directors and other information
Directors EP Butcher
Miss AL Kingston (Resigned 3 June 2018)
Ms JE Webster
Secretary EP Butcher
Company number 09261838
Registered office 438 Ley Street
Ilford
Essex
IG2 7BS
Business address 49 Muswell Hill
Muswell Hill
London
N10 3PN
Accountant DK Business Services Limited
438 Ley Street
Ilford
Essex
IG2 7BS
Bankers Lloyds TSB Bank plc
1 Silver Street
Enfield
Middlesex
EN1 3EE
49 Muswell Hill RTM Company Limited
Company limited by guarantee
Report to the board of directors on the preparation of the
unaudited statutory financial statements of 49 Muswell Hill RTM Company Limited
Year ended 31 October 2017
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of 49 Muswell Hill RTM Company Limited for the year ended 31 October 2017 as set out on pages 6 to 10 from the company's accounting records and from information and explanations you have given me.
As a practising member of The Association of International Accountants, I am subject to its ethical and other professional requirements which are detailed at www.aiaworldwide.com/guidance-ethics.
This report is made solely to the board of directors of 49 Muswell Hill RTM Company Limited, as a body, in accordance with the terms of my engagement letter dated 13 June 2018. My work has been undertaken solely to prepare for your approval the financial statements of 49 Muswell Hill RTM Company Limited and state those matters that we have agreed to state to the board of directors of 49 Muswell Hill RTM Company Limited as a body, in this report in accordance with the requirements of The Association of International Accountants as detailed at www.aiaworldwide.com. www.aiaworldwide.com. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than 49 Muswell Hill RTM Company Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that 49 Muswell Hill RTM Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 49 Muswell Hill RTM Company Limited. You consider that 49 Muswell Hill RTM Company Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of 49 Muswell Hill RTM Company Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
DK Business Services Limited
Accountants and Business Advisors
438 Ley Street
Ilford
Essex
IG2 7BS
13 June 2018
49 Muswell Hill RTM Company Limited
Company limited by guarantee
Statement of financial position
31 October 2017
2017 2016
Note £ £ £ £
Current assets
Debtors 5 450 834
Cash at bank and in hand 54 107
_______ _______
504 941
Creditors: amounts falling due
within one year 6 ( 504) ( 1,139)
_______ _______
Net current liabilities - ( 198)
_______ _______
Total assets less current liabilities - ( 198)
_______ _______
Net assets/(liabilities) - ( 198)
_______ _______
Capital and reserves
Profit and loss account - ( 198)
_______ _______
Members funds/(deficit) - ( 198)
_______ _______
For the year 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 June 2018 , and are signed on behalf of the board by:
Ms JE Webster
Director
Company registration number: 09261838
49 Muswell Hill RTM Company Limited
Company limited by guarantee
Statement of changes in equity
Year ended 31 October 2017
Profit and loss account Total
£ £
At 1 November 2015 ( 197) ( 197)
Profit/(loss) for the year ( 1) ( 1)
_______ _______
Total comprehensive income for the year ( 1) ( 1)
_______ _______
At 31 October 2016 and 1 November 2016 ( 198) ( 198)
Profit/(loss) for the year 198 198
_______ _______
Total comprehensive income for the year 198 198
_______ _______
At 31 October 2017 - -
_______ _______
49 Muswell Hill RTM Company Limited
Company limited by guarantee
Notes to the financial statements
Year ended 31 October 2017
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 438 Ley Street, Ilford, Essex, IG2 7BS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The 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 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 November 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Turnover
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The liability of each member is limited to £1, being the amount that each member undertakes to contribute to the assets of the company in the event of its being wound up while he is a member or within one year after he ceases to be a member. Since the company is not run with a view to profit there is no liability to Corporation Tax.
5. Debtors
2017 2016
£ £
Other debtors 450 834
_______ _______
6. Creditors: amounts falling due within one year
2017 2016
£ £
Other creditors 504 1,139
_______ _______
7. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 November 2015.
Reconciliation of equity
No transitional adjustments were required.
Reconciliation of profit or loss for the year
No transitional adjustments were required.