Wright Associates Services Ltd - Period Ending 2018-03-31

Registration number: 06071353

Wright Associates Services Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

Wright Associates Services Ltd

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 4

Wright Associates Services Ltd

(Registration number: 06071353)
Balance Sheet as at 31 March 2018

	Note	2018 £	2017 £
Current assets
Debtors	4	1,016	2,302
Cash at bank and in hand		10,963	21,193
		11,979	23,495
Creditors: Amounts falling due within one year	5	(6,412)	(13,233)
Net assets		5,567	10,262
Capital and reserves
Called up share capital		39	39
Capital redemption reserve		61	61
Profit and loss account		5,467	10,162
Total equity		5,567	10,262

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 December 2018 and signed on its behalf by:
 

.........................................

A Coaton
Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

Wright Associates Services Ltd

Notes to the Financial Statements for the Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Thirsk Gardens
Bletchley
Milton Keynes
MK3 5LH

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of project management course development . Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Page 2

Wright Associates Services Ltd

Notes to the Financial Statements for the Year Ended 31 March 2018

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2017 - 1).

4

Debtors

	2018 £	2017 £
Trade debtors	891	-
Other debtors	125	2,302
	1,016	2,302

5

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Trade creditors	1,767	8,588
Other creditors	4,645	4,645
	6,412	13,233

Page 3

Wright Associates Services Ltd

Notes to the Financial Statements for the Year Ended 31 March 2018

6	Related party transactions

Other transactions with directors

During the period, consultancy services totaling £7,047 (2017: £18,160) were provided to the company by A Coaton, who is a director.

A Coaton had a loan with the company. At the balance sheet date the amount due to A Coaton was £145 (2017: £145).

Page 4