ACCOUNTS - Final Accounts


Caseware UK (AP4) 2018.0.196 2018.0.1962019-04-302019-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2018-05-01075487512018-05-012019-04-30075487512017-05-012018-04-30075487512019-04-30075487512018-04-3007548751 c:Director1 2018-05-012019-04-3007548751 d:CurrentFinancialInstruments 2019-04-3007548751 d:CurrentFinancialInstruments 2018-04-3007548751 d:Non-currentFinancialInstruments 2019-04-3007548751 d:Non-currentFinancialInstruments 2018-04-3007548751 d:CurrentFinancialInstruments d:WithinOneYear 2019-04-3007548751 d:CurrentFinancialInstruments d:WithinOneYear 2018-04-3007548751 d:ShareCapital 2019-04-3007548751 d:ShareCapital 2018-04-3007548751 d:OtherMiscellaneousReserve 2019-04-3007548751 d:OtherMiscellaneousReserve 2018-04-3007548751 d:RetainedEarningsAccumulatedLosses 2019-04-3007548751 d:RetainedEarningsAccumulatedLosses 2018-04-3007548751 c:OrdinaryShareClass2 2018-05-012019-04-3007548751 c:OrdinaryShareClass2 2019-04-3007548751 c:OrdinaryShareClass2 2018-04-3007548751 c:OrdinaryShareClass3 2018-05-012019-04-3007548751 c:OrdinaryShareClass3 2019-04-3007548751 c:OrdinaryShareClass3 2018-04-3007548751 c:OrdinaryShareClass4 2018-05-012019-04-3007548751 c:OrdinaryShareClass4 2019-04-3007548751 c:OrdinaryShareClass4 2018-04-3007548751 c:FRS102 2018-05-012019-04-3007548751 c:AuditExempt-NoAccountantsReport 2018-05-012019-04-3007548751 c:FullAccounts 2018-05-012019-04-3007548751 c:PrivateLimitedCompanyLtd 2018-05-012019-04-3007548751 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2018-05-012019-04-30xbrli:sharesiso4217:GBPxbrli:pure

Registered number: 07548751










A C GITTINS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2019

 
A C GITTINS LIMITED
REGISTERED NUMBER:07548751

BALANCE SHEET
AS AT 30 APRIL 2019

2019
2018
Note
£
£

Fixed assets
  

Investments
 4 
14,858
209,405

  
14,858
209,405

Current assets
  

Debtors: amounts falling due after more than one year
 5 
190,239
328,828

Debtors: amounts falling due within one year
 5 
53,545
41,706

Cash at bank and in hand
 6 
133,379
77,156

  
377,163
447,690

Creditors: amounts falling due within one year
 7 
(642)
(11,968)

Net current assets
  
 
 
376,521
 
 
435,722

Total assets less current liabilities
  
391,379
645,127

  

Net assets
  
391,379
645,127


Capital and reserves
  

Called up share capital 
 8 
3
3

Other reserves
  
97,880
209,129

Profit and loss account
  
293,496
435,995

  
391,379
645,127


Page 1

 
A C GITTINS LIMITED
REGISTERED NUMBER:07548751
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2019

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 January 2020.




A C Gittins
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
A C GITTINS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019

1.


General information

A C Gittins Limited is a private limited company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at 39-41 Church Street, Oswestry, Shropshire, SY11 2SZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in the Profit and loss account using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
A C GITTINS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in the Profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

  
2.7

Valuation of investments

Investments held as fixed assets are shown at cost less provision for impairment. Investments are stated at cost, plus allocated profits, less drawings to date, plus any revaluations.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Page 4

 
A C GITTINS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019

2.Accounting policies (continued)

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2018 - £NIL).

The average monthly number of employees, including directors, during the year was 0 (2018 - 0).

Page 5

 
A C GITTINS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019

4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 May 2018
209,405


Additions
(194,547)



At 30 April 2019
14,858




Page 6

 
A C GITTINS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019

5.


Debtors

2019
2018
£
£

Due after more than one year

Debtor from associated undertakings
190,239
328,828

190,239
328,828


2019
2018
£
£

Due within one year

Other debtors
53,545
41,706

53,545
41,706



6.


Cash and cash equivalents

2019
2018
£
£

Cash at bank and in hand
133,378
77,156

133,378
77,156



7.


Creditors: Amounts falling due within one year

2019
2018
£
£

Social security and other taxes
-
11,386

Accruals and deferred income
642
582

642
11,968


Page 7

 
A C GITTINS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019

8.


Share capital

2019
2018
£
£
Allotted, called up and fully paid



270 (2018 - 270) Ordinary 'A' shares of £0.01 each
2.70
2.70
15 (2018 - 15) Ordinary 'B' shares of £0.01 each
0.15
0.15
15 (2018 - 15) Ordinary 'C' shares of £0.01 each
0.15
0.15

3.00

3.00


9.


Transactions with directors

Included within other debtors is a loan to a director to the value of £42,160 (2017: £62,585). Interest has been charged at the official rate.

 
Page 8