Ian Frazer Wallace Ltd - Accounts to registrar (filleted) - small 18.2

IAN FRAZER WALLACE LTD

Unaudited Financial Statements

for the period

22 November 2017 to 30 November 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

I F Wallace

Registered office:

3rd Floor

132 Whitechapel Road

London

E1 1JE

Registered number:

11077527 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

5,896

Current assets

Debtors

5

7,012

Cash at bank

21,124

28,136

Creditors

Amounts falling due within one year

6

33,384

Net current liabilities

(5,248

)

Total assets less current liabilities

648

Capital and reserves

Called up share capital

7

100

Retained earnings

8

548

Shareholders' funds

648

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 16 August 2019 and were signed by:

I F Wallace - Director

1.	Statutory information

Ian Frazer Wallace Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for goods provided in the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	Employees and directors

The average number of employees during the period was 1 .

4.	Tangible fixed assets

Plant and

machinery

£

Cost

Additions

8,840

At 30 November 2018

8,840

Depreciation

Charge for period

2,944

At 30 November 2018

2,944

Net book value

At 30 November 2018

5,896

5.

Debtors: amounts falling due within one year

£

Trade debtors

3,910

Other debtors

3,102

7,012

6.

Creditors: amounts falling due within one year

£

Trade creditors

1,463

Taxation and social security

5,470

Other creditors

26,451

33,384

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allocated and fully paid for cash during the period.

8.

Reserves

Retained

earnings

£

Profit for the period

28,048

Dividends

(27,500

)

At 30 November 2018

548

9.	Related party disclosures

Included in other creditors is £24,051 owed to the director.