Neil Soundy Financial Services Limited Filleted accounts for Companies House (small and micro)

NEIL SOUNDY FINANCIAL SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05712394

Neil Soundy Financial Services Limited

Filleted Unaudited Financial Statements

5 April 2018

Neil Soundy Financial Services Limited

Statement of Financial Position

5 April 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		773	632

Current assets

Debtors	6	2,184	1,751
Cash at bank and in hand		65,192	58,265
		--------	--------
		67,376	60,016

Creditors: amounts falling due within one year	7	16,566		18,579
		--------		--------
Net current assets			50,810	41,437
			--------	--------
Total assets less current liabilities			51,583	42,069
			--------	--------
Net assets			51,583	42,069
			--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	51,483	41,969
	--------	--------
Shareholders funds	51,583	42,069
	--------	--------

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 comprehensive income has not been delivered.

For the year ending 5 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 4 December 2018 , and are signed on behalf of the board by:

N Soundy

Director

Company registration number: 05712394

Neil Soundy Financial Services Limited

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 66 Albany Road, Cardiff, Roath, CF24 3RR, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, '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 are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents amounts received during the year.

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.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Equipment	-	33% straight line

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 6 April 2017	4,938	1,445	837	7,220
Additions	–	–	448	448
	-------	-------	-------	-------
At 5 April 2018	4,938	1,445	1,285	7,668
	-------	-------	-------	-------
Depreciation
At 6 April 2017	4,604	1,147	837	6,588
Charge for the year	84	74	149	307
	-------	-------	-------	-------
At 5 April 2018	4,688	1,221	986	6,895
	-------	-------	-------	-------
Carrying amount
At 5 April 2018	250	224	299	773
	-------	-------	-------	-------
At 5 April 2017	334	298	–	632
	-------	-------	-------	-------

6. Debtors

	2018	2017
	£	£
Other debtors	2,184	1,751
	-------	-------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Corporation tax	15,055	17,387
Social security and other taxes	181	52
Other creditors	1,330	1,140
	--------	--------
	16,566	18,579
	--------	--------

8. Directors' advances, credits and guarantees

The directors owe the company £2,184 at the year end (2017:£1,751).