Equispec Limited Filleted accounts for Companies House (small and micro)
Equispec Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
02709399
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Statement of Financial Position |
2018 |
2017 |
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Note |
£ |
£ |
£ |
Fixed assets
Intangible assets |
5 |
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Tangible assets |
6 |
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Current assets
Stocks |
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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 assets |
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Total assets less current liabilities |
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Capital and reserves
Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Director's 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 director acknowledges his 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
23 November 2018
, and are signed on behalf of the board by:
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Director |
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Company registration number:
02709399
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Notes to the Financial Statements |
Year ended 5 April 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 Unit 2, Victoria Works, Leigh Place, Welling, Kent, DA16 3JH.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
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. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
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:
Franchise Licence |
- |
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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:
Freehold Property |
- |
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Motor Vehicles |
- |
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Tools & Equipment |
- |
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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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
16
(2017:
15
).
5.
Intangible assets
Development costs |
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£ |
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Cost |
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At 6 April 2017 and 5 April 2018 |
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Amortisation |
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At 6 April 2017 |
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Charge for the year |
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At 5 April 2018 |
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Carrying amount |
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At 5 April 2018 |
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At 5 April 2017 |
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6.
Tangible assets
Land and buildings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 6 April 2017 |
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Additions |
– |
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– |
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Disposals |
– |
(
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– |
(
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At 5 April 2018 |
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Depreciation |
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At 6 April 2017 |
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Charge for the year |
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Disposals |
– |
(
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– |
(
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At 5 April 2018 |
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Carrying amount |
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At 5 April 2018 |
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At 5 April 2017 |
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7.
Debtors
2018 |
2017 |
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£ |
£ |
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Trade debtors |
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8.
Creditors:
amounts falling due within one year
2018 |
2017 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
– |
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Social security and other taxes |
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Other creditors - desc in a/cs |
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– |
Other creditors |
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9.
Related party transactions
The company was under the control of Mr Coghlan throughout the current and previous year. Mr Coghlan is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.