St Albans MC Limited - Period Ending 2018-12-31
St Albans MC Limited - Period Ending 2018-12-31
Registration number:
St Albans MC Limited
for the Year Ended 31 December 2018
Basepoint Business Centre
110 Butterfield
Luton
Bedfordshire
LU2 8DL
St Albans MC Limited
Contents
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Company Information |
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Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
St Albans MC Limited
Company Information
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Director |
N G James |
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Company secretary |
Mrs P Fox |
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Registered office |
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Accountants |
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Page 1 |
St Albans MC Limited
(Registration number: 02076545)
Abridged Balance Sheet as at 31 December 2018
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Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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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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( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Accruals and deferred income |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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( |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 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 his 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.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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Page 2 |
St Albans MC Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2018
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General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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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.
Basis of preparation
The abridged financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements were 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.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, specific criteria have been met for each of the company's activities and legal title has passed.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Fixtures and fittings |
25% on reducing balance |
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Page 3 |
St Albans MC Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2018
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.
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.
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Tangible assets |
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Total |
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Cost or valuation |
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Additions |
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At 31 December 2018 |
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Depreciation |
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Charge for the year |
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At 31 December 2018 |
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Carrying amount |
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At 31 December 2018 |
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Related party transactions |
Arnold James (St Albans) Limited, a company of which Mr N James is a Director and Shareholder, invoiced the company £612 (2017: £317) for administrative and clerical costs and a further £2,563 (2017 £ Nil) for repair and maintenance work.
The company issued invoices for £1,020 (2017: £1,020) to Arnold James (St Albans) Limited of which Mr N James is a Directors and Shareholder.
Mr N James is a trustee of the Arnold James Retirement Benefit Scheme which owns five of the units in the Metro Centre.
Mr N James owns one unit in the Metro Centre.
Mrs P Fox owns one unit in the Metro Centre and was invoiced £300 (2017: £300).
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Page 4 |