Sean Emmett Ltd 31/03/2018 iXBRL

Sean Emmett Ltd 31/03/2018 iXBRL

SEAN EMMETT LIMITED - Company Information

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Company registration number: 04463714
Sean Emmett Ltd
Unaudited filleted financial statements
31 March 2018
Sean Emmett Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Sean Emmett Ltd
Directors and other information
Director Sean Brady
Secretary Jonathan Round
Company number 04463714
Registered office 16 Buckstone Grove
Leeds
LS17 5HW
Accountants JRAS Chartered Accountants
Windsor House
Cornwall Road
Harrogate
North Yorkshire
HG1 2PW
Sean Emmett Ltd
Statement of financial position
31 March 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 661 751
_______ _______
661 751
Current assets
Debtors 6 1,009 877
Cash at bank and in hand 9,440 11,540
_______ _______
10,449 12,417
Creditors: amounts falling due
within one year 7 ( 9,892) ( 11,967)
_______ _______
Net current assets 557 450
_______ _______
Total assets less current liabilities 1,218 1,201
Provisions for liabilities ( 126) ( 143)
_______ _______
Net assets 1,092 1,058
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 992 958
_______ _______
Shareholders funds 1,092 1,058
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges 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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 October 2018 , and are signed on behalf of the board by:
Sean Brady
Director
Company registration number: 04463714
Sean Emmett Ltd
Notes to the financial statements
Year ended 31 March 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 16 Buckstone Grove, Leeds, LS17 5HW.
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.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2017 5,230 5,230
Additions 221 221
_______ _______
At 31 March 2018 5,451 5,451
_______ _______
Depreciation
At 1 April 2017 4,479 4,479
Charge for the year 311 311
_______ _______
At 31 March 2018 4,790 4,790
_______ _______
Carrying amount
At 31 March 2018 661 661
_______ _______
At 31 March 2017 751 751
_______ _______
6. Debtors
2018 2017
£ £
Other debtors 1,009 877
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Trade creditors 371 120
Corporation tax 3,192 3,658
Other creditors 6,329 8,189
_______ _______
9,892 11,967
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Sean Brady ( 6,588) 9,016 ( 7,436) ( 5,008)
_______ _______ _______ _______
2017
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Sean Brady ( 13,613) ( 4,685) 11,710 ( 6,588)
_______ _______ _______ _______