A J B ACCOUNTANTS LTD Small abridged accounts

A J B ACCOUNTANTS LTD Small abridged accounts

A J B ACCOUNTANTS LTD. - Company Information

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Statement of Consent to Prepare Abridged Financial Statements
All of the members of A J B ACCOUNTANTS LTD have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 January 2018 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 05016227
A J B ACCOUNTANTS LTD
Unaudited Abridged Financial Statements
31 January 2018
A J B ACCOUNTANTS LTD
Abridged Financial Statements
Year ended 31 January 2018
Contents
Page
Director's report
1
Report to the director on the preparation of the unaudited statutory abridged financial statements
2
Abridged statement of income and retained earnings
3
Abridged statement of financial position
4
Notes to the abridged financial statements
5
The following pages do not form part of the abridged financial statements
Detailed abridged income statement
8
Notes to the detailed abridged income statement
9
A J B ACCOUNTANTS LTD
Director's Report
Year ended 31 January 2018
The director presents his report and the unaudited abridged financial statements of the company for the year ended 31 January 2018 .
Director
The director who served the company during the year was as follows:
Mr A J Bennett
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 3 October 2018 and signed on behalf of the board by:
Mr A J Bennett
M CASTANO BENNETT
Director
Company Secretary
Registered office:
20 Brampton Grove
Wembley
Middlesex
HA9 9QU
A J B ACCOUNTANTS LTD
Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of A J B ACCOUNTANTS LTD
Year ended 31 January 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of A J B ACCOUNTANTS LTD for the year ended 31 January 2018, which comprise the abridged statement of income and retained earnings, abridged statement of financial position and the related notes 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 www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
AJB ACCOUNTANTS LTD Chartered accountant
20 BRAMPTON GROVE WEMBLEY MIDDLESEX HA9 9QU
3 October 2018
A J B ACCOUNTANTS LTD
Abridged Statement of Income and Retained Earnings
Year ended 31 January 2018
2018
2017
Note
£
£
Gross profit
31,037
34,561
Administrative expenses
20,020
18,760
--------
--------
Operating profit
11,017
15,801
Interest payable and similar expenses
5
161
–
--------
--------
Profit before taxation
10,856
15,801
Tax on profit
2,080
3,160
--------
--------
Profit for the financial year and total comprehensive income
8,776
12,641
--------
--------
Dividends paid and payable
( 7,500)
( 12,500)
Retained earnings at the start of the year
204
63
-------
--------
Retained earnings at the end of the year
1,480
204
-------
--------
All the activities of the company are from continuing operations.
A J B ACCOUNTANTS LTD
Abridged Statement of Financial Position
31 January 2018
2018
2017
Note
£
£
£
Current assets
Debtors
5,120
6,171
Cash at bank and in hand
916
1,166
-------
-------
6,036
7,337
Creditors: amounts falling due within one year
4,208
7,132
-------
-------
Net current assets
1,828
205
-------
----
Total assets less current liabilities
1,828
205
Creditors: amounts falling due after more than one year
347
–
-------
----
Net assets
1,481
205
-------
----
Capital and reserves
Called up share capital
1
1
Profit and loss account
1,480
204
-------
----
Members funds
1,481
205
-------
----
These abridged financial statements have been prepared 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'.
For the year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 3 October 2018 , and are signed on behalf of the board by:
Mr A J Bennett
Director
Company registration number: 05016227
A J B ACCOUNTANTS LTD
Notes to the Abridged Financial Statements
Year ended 31 January 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 20 Brampton Grove, Wembley, Middlesex, HA9 9QU.
2. Statement of compliance
These abridged 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, 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 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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. Employee numbers
The average number of persons employed by the company during the year, including the director, amounted to 1 (2017: 1 ).
5. Interest payable and similar expenses
2018
2017
£
£
Other interest payable and similar charges
161
–
----
----
6. Related party transactions
A J B ACCOUNTANTS LTD
Management Information
Year ended 31 January 2018
The following pages do not form part of the abridged financial statements.
A J B ACCOUNTANTS LTD
Detailed Abridged Income Statement
Year ended 31 January 2018
2018
2017
£
£
Turnover
31,764
35,161
Cost of sales
Subcontractor costs
727
600
--------
--------
Gross profit
31,037
34,561
Overheads
Administrative expenses
20,020
18,760
--------
--------
Operating profit
11,017
15,801
Interest payable and similar expenses
(161)
–
--------
--------
Profit before taxation
10,856
15,801
--------
--------
A J B ACCOUNTANTS LTD
Notes to the Detailed Abridged Income Statement
Year ended 31 January 2018
2018
2017
£
£
Administrative expenses
Directors salaries
8,060
8,060
Repairs and maintenance (allowable)
211
188
Travel and subsistence
656
506
Telephone
755
345
Software costs
2,079
1,952
Website costs
6,165
6,279
Printing postage and stationery
58
72
General expenses (allowable)
13
88
Advertising
1,518
735
Legal and professional fees (allowable)
291
399
Bank charges
214
136
--------
--------
20,020
18,760
--------
--------
Interest payable and similar expenses
Other interest payable and similar charges
161
–
----
----