Sedulo Limited - Period Ending 2018-08-28
Sedulo Limited - Period Ending 2018-08-28
Registration number:
Sedulo Limited
for the Year Ended 28 August 2018
Chartered Certified Accountants
First Floor
Eastgate
Castle Street
Castlefield
Manchester
M3 4LZ
Sedulo Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Sedulo Limited
Company Information
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Director |
Mrs Z Hynes |
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Registered office |
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Accountants |
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Page 1 |
Sedulo Limited
(Registration number: 05364393)
Balance Sheet as at 28 August 2018
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Note |
2018 |
2017 |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
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For the financial year ending 28 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her 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
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Director
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Page 2 |
Sedulo Limited
Notes to the Financial Statements for the Year Ended 28 August 2018
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
The company's registration number is:
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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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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Page 3 |
Sedulo Limited
Notes to the Financial Statements for the Year Ended 28 August 2018
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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Creditors |
Creditors: amounts falling due within one year
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Note |
2018 |
2017 |
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Due within one year |
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Bank loans and overdrafts |
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Other creditors |
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Loans and borrowings |
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2018 |
2017 |
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Current loans and borrowings |
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Bank overdrafts |
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Page 4 |