Yster Services Ltd - Filleted accounts

Yster Services Ltd - Filleted accounts


Registered number
08286876
Yster Services Ltd
Unaudited Filleted Accounts
30 April 2018
Yster Services Ltd
Registered number: 08286876
Balance Sheet
as at 30 April 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 3 173 347
Current assets
Debtors 4 261 724
Cash at bank and in hand 1,156 6,959
1,417 7,683
Creditors: amounts falling due within one year 5 (1,219) (6,947)
Net current assets 198 736
Net assets 371 1,083
Capital and reserves
Called up share capital 1 1
Profit and loss account 370 1,082
Shareholder's funds 371 1,083
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sean Quinlan
Director
Approved by the board on 16 January 2019
Yster Services Ltd
Notes to the Accounts
for the year ended 30 April 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover - Services
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2018 2017
Number Number
Average number of persons employed by the company including paid directors and office holders - 1
3 Tangible fixed assets
Equipment
£
Cost
At 1 May 2017 521
At 30 April 2018 521
Depreciation
At 1 May 2017 174
Charge for the year 174
At 30 April 2018 348
Net book value
At 30 April 2018 173
At 30 April 2017 347
4 Debtors 2018 2017
£ £
Other debtors 261 724
5 Creditors: amounts falling due within one year 2018 2017
£ £
Corporation tax - 6,053
Director's current account 859 868
Other creditors 360 26
1,219 6,947
6 Controlling party
The company is controlled by Sean Quinlan by virtue of his 100% shareholding.
7 Other information
Yster Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Flat 2
99 Park Road
London
SW19 2HU
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