Aaron Wise Limited Filleted accounts for Companies House (small and micro)
Aaron Wise Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
09618041
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Statement of Financial Position |
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2018 |
2017 |
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Note |
£ |
£ |
£ |
Fixed assets
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Intangible assets |
5 |
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– |
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Tangible assets |
6 |
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Current assets
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Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current liabilities |
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Total assets less current liabilities |
(
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(
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Net liabilities |
(
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(
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Capital and reserves
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Called up share capital |
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Profit and loss account |
(
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(
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Shareholders deficit |
(
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(
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Directors' responsibilities:
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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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
19 November 2018
, and are signed on behalf of the board by:
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Director |
Company registration number:
09618041
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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 45 Fitzhamon Embankment, Cardiff, CF11 6AN.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
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Website Development |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
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:
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Fixtures and fittings |
- |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2017:
3
).
5.
Intangible assets
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Development costs |
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£ |
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Cost |
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Additions |
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At 30 June 2018 |
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Amortisation |
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Charge for the year |
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------- |
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At 30 June 2018 |
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------- |
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Carrying amount |
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At 30 June 2018 |
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At 30 June 2017 |
– |
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6.
Tangible assets
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Fixtures and fittings |
Total |
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£ |
£ |
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Cost |
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At 1 July 2017 |
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Additions |
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At 30 June 2018 |
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Depreciation |
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At 1 July 2017 |
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Charge for the year |
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At 30 June 2018 |
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Carrying amount |
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At 30 June 2018 |
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At 30 June 2017 |
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7.
Debtors
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2018 |
2017 |
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£ |
£ |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
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2018 |
2017 |
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£ |
£ |
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Bank loans and overdrafts |
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– |
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Social security and other taxes |
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Other creditors |
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9.
Related party transactions
The company was under the control of the Directors as disclosed on page 1 of the Financial Statements. The company undertook the following material transactions during the year: Wize Step Limited charged
Aaron Wise Limited
: - Management charges - £10 (2017 - £10,660) - Rent - £55,000 (2017 - £57,000) Wize Step Limited are the majority shareholders in Aaron Wise Limited
and at the year end the company owed £73,407 (2017 - £46,374) to Wize Step Limited. During the year the company paid rent for a property, owned by a family relation of one of the directors, totalling £22,500 (2017 - £nil).