Charnock Solutions Limited
Charnock Solutions Limited
Registered number: 08098038
Unaudited Financial Statements
For The Year Ended 30 June 2018
TaxAssist Accountants
Charnock Solutions Limited
Unaudited Financial Statements
For The Year Ended 30 June 2018
Unaudited Financial Statements
| Contents | |
| Page | |
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| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—5 |
Charnock Solutions Limited
Statement of Financial Position
For The Year Ended 30 June 2018
Statement of Financial Position
Registered number:
08098038
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.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Income Statement |
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| SHAREHOLDERS' FUNDS | 33,914 | 53,417 | |||
Page 1
Charnock Solutions Limited
Statement of Financial Position (continued)
For The Year Ended 30 June 2018
Directors' responsibilities:
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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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Charnock Solutions Limited
Notes to the Financial Statements
For The Year Ended 30 June 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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| Computer Equipment |
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1.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2018 | 2017 | ||
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| Office and administration |
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Page 3
Charnock Solutions Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2018
3.
Tangible Assets
| Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
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| Additions |
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| As at |
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| Depreciation | |||
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| Provided during the period |
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| As at |
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| Net Book Value | |||
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4.
Debtors
| 2018 | 2017 | ||
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| £ | £ | ||
| Due within one year | |||
| Other debtors |
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| Directors' loan accounts | 75,991 | 68,194 | |
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5.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Net wages | 2,571 | 2,913 | |
| Other Loan (Current liabilities - creditors < 1 year) |
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| Accruals and deferred income |
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Page 4
Charnock Solutions Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2018
Dividends
| 2018 | 2017 | ||
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| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
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| 46,154 | 30,907 | ||
The director's propose final dividends for the year totalling £32,850.
7.
General Information
Charnock Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08098038 . The registered office is 23 Goodlass Road Business First Centre, Speke, Liverpool, Merseyside, L24 9HJ.
Page 5