Ricson Services Limited Filleted accounts for Companies House (small and micro)

Ricson Services Limited Filleted accounts for Companies House (small and micro)

RICSON SERVICES LTD - Company Information

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COMPANY REGISTRATION NUMBER: 05080260
Ricson Services Limited
Filleted Unaudited Financial Statements
31 March 2018
Ricson Services Limited
Statement of Financial Position
31 March 2018
2018
2017
Note
£
£
Fixed assets
Tangible assets
5
1,762
8,153
Current assets
Debtors
6
62,087
75,063
Cash at bank and in hand
119,033
169,525
----------
----------
181,120
244,588
Creditors: amounts falling due within one year
7
108,123
141,832
----------
----------
Net current assets
72,997
102,756
--------
----------
Total assets less current liabilities
74,759
110,909
--------
----------
Net assets
74,759
110,909
--------
----------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
73,759
109,909
--------
----------
Shareholders funds
74,759
110,909
--------
----------
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.
For the year ending 31st 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 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 19 December 2018 , and are signed on behalf of the board by:
Mr S Miles
Director
Company registration number: 05080260
Ricson Services Limited
Notes to the Financial Statements
year ended 31st 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 Suite G1, Verulam Industrial Estate, 224 London Road, St Albans, AL1 1JB.
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 are prepared in sterling which is the functional currency of the entity.
Revenue recognition
Turnover is the total amount receivable by the company, excluding VAT, for the provision of payroll and accountancy services for contract workers in the UK.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Office equipment
-
25%-33% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2017: 9 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1st April 2017 and 31st March 2018
170,270
170,270
----------
----------
Depreciation
At 1st April 2017
162,117
162,117
Charge for the year
6,391
6,391
----------
----------
At 31st March 2018
168,508
168,508
----------
----------
Carrying amount
At 31st March 2018
1,762
1,762
----------
----------
At 31st March 2017
8,153
8,153
----------
----------
6. Debtors
2018
2017
£
£
Trade debtors
41,746
43,386
Other debtors
20,341
31,677
--------
--------
62,087
75,063
--------
--------
7. Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
12,774
20,183
Social security and other taxes
22,697
40,249
Other creditors
72,652
81,400
----------
----------
108,123
141,832
----------
----------