Yvonne Clarke Limited 31/05/2018 iXBRL

Yvonne Clarke Limited 31/05/2018 iXBRL

YVONNE CLARKE LTD - Company Information

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Company registration number: 07635769
Yvonne Clarke Limited
Trading as Yvonne Clarke Limited
Unaudited filleted financial statements
31 May 2018
Yvonne Clarke Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Yvonne Clarke Limited
Directors and other information
Director Ms Yvonne Heather Clarke
Company number 07635769
Registered office 91 Spilsby Road
Boston
Lincs
PE21 9NY
Business address 91 Spilsby Road
Boston
Lincs
PE21 9NY
Accountants Lister & Co
75 High Street
Boston
Lincs
PE21 8SX
Yvonne Clarke Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Yvonne Clarke Limited
Year ended 31 May 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Yvonne Clarke Limited for the year ended 31 May 2018 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of Yvonne Clarke Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Yvonne Clarke Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Yvonne Clarke Limited and its director as a body for our work or for this report.
It is your duty to ensure that Yvonne Clarke Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Yvonne Clarke Limited. You consider that Yvonne Clarke Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Yvonne Clarke Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lister & Co
ACCA
75 High Street
Boston
Lincs
PE21 8SX
30 January 2019
Yvonne Clarke Limited
Statement of financial position
31 May 2018
2018 2017
Note £ £ £ £
Fixed assets
Intangible assets 5 50,811 231,951
_______ _______
50,811 231,951
Current assets
Debtors 7 17,219 17,219
Cash at bank and in hand 61,629 21,120
_______ _______
78,848 38,339
Creditors: amounts falling due
within one year 8 ( 40,500) ( 52,494)
_______ _______
Net current assets/(liabilities) 38,348 ( 14,155)
_______ _______
Total assets less current liabilities 89,159 217,796
_______ _______
Net assets 89,159 217,796
_______ _______
Capital and reserves
Called up share capital 9 1 1
Profit and loss account 89,158 217,795
_______ _______
Shareholder funds 89,159 217,796
_______ _______
For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 30 January 2019 , and are signed on behalf of the board by:
Ms Yvonne Heather Clarke
Director
Company registration number: 07635769
Yvonne Clarke Limited
Notes to the financial statements
Year ended 31 May 2018
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 91 Spilsby Road, Boston, Lincs, PE21 9NY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
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 a revalued amount, 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:
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
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 June 2017 231,951 231,951
Disposals (50,810) (50,810)
_______ _______
At 31 May 2018 181,141 181,141
_______ _______
Amortisation
At 1 June 2017 - -
Charge for the year 130,330 130,330
_______ _______
At 31 May 2018 130,330 130,330
_______ _______
Carrying amount
At 31 May 2018 50,811 50,811
_______ _______
At 31 May 2017 231,951 231,951
_______ _______
6. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 June 2017 and 31 May 2018 789 789
_______ _______
Depreciation
At 1 June 2017 and 31 May 2018 789 789
_______ _______
Carrying amount
At 31 May 2018 - -
_______ _______
At 31 May 2017 - -
_______ _______
7. Debtors
2018 2017
£ £
Trade debtors 17,219 17,219
_______ _______
8. Creditors: amounts falling due within one year
2018 2017
£ £
Trade creditors - 1,684
Corporation tax 397 -
Other creditors 40,103 50,810
_______ _______
40,500 52,494
_______ _______
9. Called up share capital
Issued, called up and fully paid
2018 2017
No £ No £
Ordinary shares of £ 1.00 each 1 1 1 1
_______ _______ _______ _______