Contents of the Financial Statements

for the Period Ended 30 November 2017

Company Information

for the Period Ended 30 November 2017

Profit and Loss Account

for the Period Ended 30 November 2017

The notes form part of these financial statements

Balance sheet

As at 30 November 2017

The notes form part of these financial statements

Balance sheet continued

As at 30 November 2017

For the year ending 30 November 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.

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

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 November 2017

• 1. Accounting policies

  Basis of measurement and preparation

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

  Turnover policy

  Turnover represents amounts receivable for goods and services provided in the normal course of business, net of Value Added Tax
  

  Tangible fixed assets depreciation policy

  Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following rates in order to write off the cost, less their estimated residual values, over their anticipated useful lives fixtures and fittings straight line 3 years, plant and machinery straight line 5 years, office equipment straight line 4 years
  

  Intangible fixed assets amortisation policy

  The directors review the value of the intangible assets annually and amortise any reduction
  

  Valuation information and policy

  Work in progress is the amount recoverable on contracts being the directors' estimate of the value of work done on incomplete contracts or completed contracts whose final value has not yet been agreed
  

  Other accounting policies

  Leasing and hire purchase contracts assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charges allocated to future periods. The finance element of the rental repayment is charged to the profit and loss account equally over the period of the contract

Notes to the Financial Statements

for the Period Ended 30 November 2017

2.Profit or (Loss) before tax

An exceptional cost was incurred on the insolvency of a customer, with appointment of liquidators on 8 September 2017. This resulted in a receivable balance becoming irrecoverable and requiring amounts for work done on two contracts included in work in progress to be written off:
Sales ledger balance excluding VAT and CIS withheld, £79,396
Work in progress £309,019
Total included in administrative expenses £388,416

Notes to the Financial Statements

for the Period Ended 30 November 2017

3. Intangible assets

Notes to the Financial Statements

for the Period Ended 30 November 2017

4. Tangible assets

Notes to the Financial Statements

for the Period Ended 30 November 2017

5. Debtors

Notes to the Financial Statements

for the Period Ended 30 November 2017

6.Creditors: amounts falling due within one year note

Notes to the Financial Statements

for the Period Ended 30 November 2017

7.Creditors: amounts falling due after more than one year

Notes to the Financial Statements

for the Period Ended 30 November 2017

• 8. Post balance sheet events

  Since the balance sheet date, the directors have introduced additional share capital of £50,000 and loans of £120,000 to fund operations