Signassist Limited Filleted accounts for Companies House (small and micro)

Signassist Limited Filleted accounts for Companies House (small and micro)


false false false false false false false false false true false false false false false false false No description of principal activity 2018-01-01 Sage Accounts Production Advanced 2019 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 05003055 2018-01-01 2018-12-31 05003055 2018-12-31 05003055 2017-12-31 05003055 2017-01-01 2017-12-31 05003055 2017-12-31 05003055 bus:Director1 2018-01-01 2018-12-31 05003055 core:WithinOneYear 2018-12-31 05003055 core:WithinOneYear 2017-12-31 05003055 core:FurnitureFittings 2017-12-31 05003055 core:MotorVehicles 2017-12-31 05003055 core:FurnitureFittings 2018-12-31 05003055 core:MotorVehicles 2018-12-31 05003055 core:FurnitureFittings 2018-01-01 2018-12-31 05003055 core:MotorVehicles 2018-01-01 2018-12-31 05003055 core:ShareCapital 2018-12-31 05003055 core:ShareCapital 2017-12-31 05003055 core:RetainedEarningsAccumulatedLosses 2018-12-31 05003055 core:RetainedEarningsAccumulatedLosses 2017-12-31 05003055 core:FurnitureFittings 2017-12-31 05003055 core:MotorVehicles 2017-12-31 05003055 bus:SmallEntities 2018-01-01 2018-12-31 05003055 bus:AuditExemptWithAccountantsReport 2018-01-01 2018-12-31 05003055 bus:FullAccounts 2018-01-01 2018-12-31 05003055 bus:SmallCompaniesRegimeForAccounts 2018-01-01 2018-12-31 05003055 bus:PrivateLimitedCompanyLtd 2018-01-01 2018-12-31
COMPANY REGISTRATION NUMBER: 05003055
SIGNASSIST LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2018
SIGNASSIST LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2018
2018
2017
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
15,817
18,973
CURRENT ASSETS
Stocks
650
650
Debtors
6
5,603
14,328
Cash at bank and in hand
78,070
57,664
--------
--------
84,323
72,642
CREDITORS: amounts falling due within one year
7
55,520
66,612
--------
--------
NET CURRENT ASSETS
28,803
6,030
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
44,620
25,003
PROVISIONS
Taxation including deferred tax
3,005
3,605
--------
--------
NET ASSETS
41,615
21,398
--------
--------
CAPITAL AND RESERVES
Called up share capital
10
10
Profit and loss account
41,605
21,388
--------
--------
SHAREHOLDERS FUNDS
41,615
21,398
--------
--------
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.
For the 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:
- The members have 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SIGNASSIST LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2018
These financial statements were approved by the board of directors and authorised for issue on 19 September 2019 , and are signed on behalf of the board by:
P. Bottomley
Director
Company registration number: 05003055
SIGNASSIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2018
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 81 The Rydings, Langho, Blackburn, BB6 8BQ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
The turnover shown in the profit and loss account represents the invoice value of goods supplied and services provided during the year, exclusive of Value Added Tax.
(c) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
(d) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e) 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:
Fixtures, Fittings & Equipment
-
10% per annum reducing balance
Motor Vehicles
-
25% per annum reducing balance
(f) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(g) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(h) Financial instruments
Basic financial instruments are recognised at amortised cost.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).
5. TANGIBLE ASSETS
Fixtures, Fittings & Equipment
Motor Vehicles
Total
£
£
£
Cost
At 1 January 2018
10,443
41,754
52,197
Additions
1,188
1,188
--------
--------
--------
At 31 December 2018
11,631
41,754
53,385
--------
--------
--------
Depreciation
At 1 January 2018
6,988
26,236
33,224
Charge for the year
465
3,879
4,344
--------
--------
--------
At 31 December 2018
7,453
30,115
37,568
--------
--------
--------
Carrying amount
At 31 December 2018
4,178
11,639
15,817
--------
--------
--------
At 31 December 2017
3,455
15,518
18,973
--------
--------
--------
6. DEBTORS
2018
2017
£
£
Trade debtors
5,603
14,328
-------
--------
7. CREDITORS: amounts falling due within one year
2018
2017
£
£
Trade creditors
10,458
23,837
Accruals and deferred income
2,400
2,400
Corporation tax
8,626
3,471
Social security and other taxes
10,996
10,369
Director loan accounts
23,040
26,535
--------
--------
55,520
66,612
--------
--------
Obligations under finance leases and hire purchase contracts are secured.
8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
There are no transactions with directors that require disclosure under FRS 102.
9. RELATED PARTY TRANSACTIONS
The company was under the control of Mr P. Bottomley throughout the year. Mr P. Bottomley is the managing director and majority shareholder. During the year the company paid dividends to the director amounting to £12,000.