Ascona Computer Services Limited Company Accounts

Ascona Computer Services Limited Company Accounts

ASCONA COMPUTER SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02470752
ASCONA COMPUTER SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2018
ASCONA COMPUTER SERVICES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2018
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 3
ASCONA COMPUTER SERVICES LIMITED
BALANCE SHEET
30 June 2018
2018
2017
Note
£
£
Fixed assets
Tangible assets
4
1
1
Current assets
Debtors
5
359
–
Cash at bank and in hand
86,288
90,147
------------
------------
86,647
90,147
Creditors: amounts falling due within one year
6
( 368)
( 729)
------------
------------
Net current assets
86,279
89,418
------------
------------
Total assets less current liabilities
86,280
89,419
------------
------------
Net assets
86,280
89,419
------------
------------
Capital and reserves
Called up share capital
7
10
10
Profit and loss account
86,270
89,409
------------
------------
Members funds
86,280
89,419
------------
------------
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 profit and loss account has not been delivered.
For the year ending 30 June 2018 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 were approved by the board of directors and authorised for issue on 7 August 2018 , and are signed on behalf of the board by:
Mr D J Scott
Director
Company registration number: 02470752
ASCONA COMPUTER SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 32 Cedar Field, Clayton-le-woods, Chorley, Lancashire, PR6 7RW.
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 the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Computer equipment
£
Cost
At 1 July 2017 and 30 June 2018
5,134
------------
Depreciation
At 1 July 2017 and 30 June 2018
5,133
------------
Carrying amount
At 30 June 2018
1
------------
5. Debtors
2018
2017
£
£
Corporation tax repayable
359
–
------------
------------
6. Creditors: amounts falling due within one year
2018
2017
£
£
Accruals and deferred income
360
360
Corporation tax
–
361
Director loan accounts
8
8
------------
------------
368
729
------------
------------
7. Called up share capital
Issued, called up and fully paid
2018
2017
No.
£
No.
£
Ordinary shares of £ 1 each
10
10
10
10
------------
------------
------------
------------
8. Related party transactions
The directors' loan of £8 (2017: £8) set out above is unsecured, repayable on demand and currently interest free. The company is controlled by the directors.