RECOGNITION_SERVICES_LIMI - Accounts


Company Registration No. 05900327 (England and Wales)
RECOGNITION SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019
PAGES FOR FILING WITH REGISTRAR
RECOGNITION SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RECOGNITION SERVICES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2019
31 August 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,988
8,007
Current assets
Debtors
3
14,318
8,182
Cash at bank and in hand
43,055
41,327
57,373
49,509
Creditors: amounts falling due within one year
4
(20,233)
(17,758)
Net current assets
37,140
31,751
Total assets less current liabilities
43,128
39,758
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
43,028
39,658
Total equity
43,128
39,758

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 20 December 2019
Mr G Robb
Director
Company Registration No. 05900327
RECOGNITION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019
- 2 -
1
Accounting policies
Company information

Recognition Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Pioneer Court, Morton Palms, Darlington, DL1 4WD. The company number is 05900327.

1.1
Accounting convention

These financial statements have been prepared under the historical cost convention and in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amount receivable for goods and services net of VAT.

Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods or the completion of services), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

 

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

RECOGNITION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2019
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from connected companies are initially recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2018
34,932
Additions
4,294
At 31 August 2019
39,226
Depreciation and impairment
At 1 September 2018
26,925
Depreciation charged in the year
6,313
At 31 August 2019
33,238
Carrying amount
At 31 August 2019
5,988
At 31 August 2018
8,007
RECOGNITION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2019
- 4 -
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
14,219
8,083
Other debtors
99
99
14,318
8,182
4
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
7,187
7,707
Corporation tax
5,393
6,062
Other taxation and social security
4,185
1,808
Other creditors
3,468
2,181
20,233
17,758
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
90 Ordinary A of £1 each
90
90
10 Ordinary C of £1 each
10
10
100
100
2019-08-312018-09-01false06 January 2020CCH SoftwareCCH Accounts Production 2020.100No description of principal activityMr G Robb059003272018-09-012019-08-31059003272019-08-31059003272018-08-3105900327core:OtherPropertyPlantEquipment2019-08-3105900327core:OtherPropertyPlantEquipment2018-08-3105900327core:CurrentFinancialInstrumentscore:WithinOneYear2019-08-3105900327core:CurrentFinancialInstrumentscore:WithinOneYear2018-08-3105900327core:CurrentFinancialInstruments2019-08-3105900327core:CurrentFinancialInstruments2018-08-3105900327core:ShareCapital2019-08-3105900327core:ShareCapital2018-08-3105900327core:RetainedEarningsAccumulatedLosses2019-08-3105900327core:RetainedEarningsAccumulatedLosses2018-08-3105900327core:ShareCapitalOrdinaryShares2019-08-3105900327core:ShareCapitalOrdinaryShares2018-08-3105900327bus:Director12018-09-012019-08-3105900327core:PlantMachinery2018-09-012019-08-3105900327core:OtherPropertyPlantEquipment2018-08-3105900327core:OtherPropertyPlantEquipment2018-09-012019-08-3105900327core:WithinOneYear2019-08-3105900327core:WithinOneYear2018-08-3105900327bus:PrivateLimitedCompanyLtd2018-09-012019-08-3105900327bus:SmallCompaniesRegimeForAccounts2018-09-012019-08-3105900327bus:FRS1022018-09-012019-08-3105900327bus:AuditExemptWithAccountantsReport2018-09-012019-08-3105900327bus:FullAccounts2018-09-012019-08-31xbrli:purexbrli:sharesiso4217:GBP