Attic 2 (Wales) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03667415 (England and Wales)

ATTIC 2 (WALES) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A J Gidden

SECRETARY:

J R Gidden

REGISTERED OFFICE:

4 Severn Square

Canton

Cardiff

CF11 9DP

REGISTERED NUMBER:

03667415 (England and Wales)

ACCOUNTANTS:

Watts Gregory LLP

Chartered Accountants

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

252

977

CURRENT ASSETS

Debtors

5

2,870

20,000

Cash at bank

98,351

73,492

101,221

93,492

CREDITORS

Amounts falling due within one year

6

(18,097

)

(20,023

)

NET CURRENT ASSETS

83,124

73,469

TOTAL ASSETS LESS CURRENT LIABILITIES

83,376

74,446

CAPITAL AND RESERVES

Called up share capital

7

30,000

30,000

Retained earnings

53,376

44,446

SHAREHOLDERS' FUNDS

83,376

74,446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved for issue by the director and authorised for issue on 25 November 2020 and were signed by:

A J Gidden - Director

1.	STATUTORY INFORMATION

Attic 2 (Wales) 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There has been no material departures from Financial Reporting Standard 102 1A.

Turnover

Turnover represents amounts billed and billable in respect of design and consultancy services provided during the year. Turnover also includes design royalties and commissions receivable during the year. Turnover is exclusive of trade discounts and value added tax.

Tangible fixed assets

Tangible fixed assets are stated at cost, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:

Fixtures, fittings and equipment

- 25% Straight line

Current taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Non-derivative financial instruments

Basic financial instruments are recognised at amortised cost.

Going concern

The director is satisfied that despite the Coronavirus pandemic, it is appropriate for the company's financial statements to be prepared on a going concern basis. The pandemic has resulted in a number of uncertainties arising and the director has taken steps to minimise the effect on the company and will continue to do so. In the circumstances the director has concluded that no adjustments are required to the financial statements at this time.

Fees to be billed

Services provided to clients, which at the balance sheet date have not been billed, have been recognised as turnover. Turnover recognised in this manner is based on an assessment of the fair value of the services provided at that date as a proportion of the total value of the engagement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Equipment,

fixtures

& fittings

£

COST

At 1 May 2019

and 30 April 2020

20,671

DEPRECIATION

At 1 May 2019

19,694

Charge for year

725

At 30 April 2020

20,419

NET BOOK VALUE

At 30 April 2020

252

At 30 April 2019

977

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

2,870

20,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Corporation tax

12,820

12,491

VAT

3,540

6,046

Director's current account

732

531

Accrued expenses

1,005

955

18,097

20,023

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

30,000

Ordinary Shares

£1

30,000

30,000

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2020 and 30 April 2019:

2020

2019

£

£

A J Gidden

Balance outstanding at start of year

-

200

Amounts repaid

-

(200

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-