Anew Young People Services Limited Filleted accounts for Companies House (small and micro)
Anew Young People Services Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
07871926
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Financial Statements |
Year ended 31 March 2019
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Contents |
Pages |
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Balance sheet |
1 to 2 |
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Notes to the financial statements |
3 to 6 |
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Balance Sheet |
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2019 |
2018 |
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Note |
£ |
£ |
Fixed assets
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Tangible assets |
5 |
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Current assets
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Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current assets |
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Total assets less current liabilities |
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Provisions
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Taxation including deferred tax |
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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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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the profit & loss account has not been delivered.
Directors' responsibilities:
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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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Balance Sheet (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
20 December 2019
, and are signed on behalf of the board by:
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Director |
Company registration number:
07871926
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Notes to the Financial Statements |
Year ended 31 March 2019
1.
General information
The company is a private company limited by shares, registered in England & Wales, registration number
07871926
. The address of the registered office is 1-5 Birch Terrace, Hanley, Stoke on Trent, Staffordshire, ST1 3JN.
2.
Statement of compliance
3.
Accounting policies
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. Monetary amounts in these financial statements are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
Income tax
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. 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 material 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.
Tangible assets
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:
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Plant & Machinery |
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Fixtures & Fittings |
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Bicycle |
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Computer Equipment |
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25% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and cash in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
37
(2018:
37
).
5.
Tangible assets
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Plant & Machinery |
Fixtures & Fittings |
Bicycles |
Computer Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 April 2018 |
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10,232 |
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Additions |
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– |
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2,418 |
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Disposals |
(
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– |
– |
– |
(
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At 31 March 2019 |
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12,650 |
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Depreciation |
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At 1 April 2018 |
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5,795 |
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Charge for the year |
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– |
2,331 |
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Disposals |
(
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– |
– |
– |
(
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At 31 March 2019 |
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8,126 |
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Carrying amount |
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At 31 March 2019 |
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4,524 |
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At 31 March 2018 |
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4,437 |
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6.
Debtors
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2019 |
2018 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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– |
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7.
Creditors:
amounts falling due within one year
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2019 |
2018 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Other creditors include amounts owed to Hitachi Capital (UK) Plc in respect of invoice financing totalling £55,851. The liability is secured by a fixed charge, floating charges over all property and undertaking of the company, and a negative pledge.
8.
Other financial commitments
At the year-end the company had total outstanding lease commitments of £38,003.