The Angel Services Group Limited Small abbreviated accounts, do not use if applying SI 2015/980

THE ANGEL SERVICES GROUP LTD - Company Information

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COMPANY REGISTRATION NUMBER: 04357675

The Angel Services Group Limited

Abbreviated Unaudited Financial Statements

For the year ended

31 March 2016

ROSTANCE EDWARDS LIMITED

Chartered accountant

1 & 2 Heritage Park

Hayes Way

Cannock

Staffordshire

WS11 7LT

The Angel Services Group Limited

Abbreviated Financial Statements

Year ended 31 March 2016

Contents	Pages

Abbreviated statement of financial position	1 to 2

Notes to the abbreviated financial statements	3 to 7

The Angel Services Group Limited

Abbreviated Statement of Financial Position

31 March 2016

	2016		2015
Note	£	£	£

Fixed assets

Tangible assets	3	62,509	68,999
Investments	4	1,102	1,102
		--------	--------
		63,611	70,101

Current assets

Debtors	135,789	136,890
Cash at bank and in hand	166,921	184,543
	---------	---------
	302,710	321,433

Creditors: amounts falling due within one year	301,143		289,443
	---------		---------
Net current assets		1,567	31,990
		--------	---------
Total assets less current liabilities		65,178	102,091

Creditors: amounts falling due after more than one year		27,118	35,338

Provisions	12,174	13,434
	--------	---------
Net assets	25,886	53,319
	--------	---------

The Angel Services Group Limited

Abbreviated Statement of Financial Position (continued)

31 March 2016

	2016		2015
Note	£	£	£

Capital and reserves

Called up share capital	5	60	70
Profit and loss account		25,826	53,249
		--------	--------
Members funds		25,886	53,319
		--------	--------

For the year ending 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

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

These abbreviated financial statements were approved by the board of directors and authorised for issue on 1 December 2016 , and are signed on behalf of the board by:

Mr J A N Ball

Director

Company registration number: 04357675

The Angel Services Group Limited

Notes to the Abbreviated Financial Statements

Year ended 31 March 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Wrens Court, Lower Queen Street, Sutton Coldfield, B72 1RT.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The charge for taxation takes into account, where material, taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Leasehold Property	-	10% reducing balance
Fixtures and fittings	-	10% reducing balance
Computer Equipment	-	20% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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 abbreviated 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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. Tangible assets

	£
Cost
At 1 April 2015	123,767
Additions	1,957
	---------
At 31 March 2016	125,724
	---------
Depreciation
At 1 April 2015	54,768
Charge for the year	8,447
	---------
At 31 March 2016	63,215
	---------
Carrying amount
At 31 March 2016	62,509
	---------
At 31 March 2015	68,999
	---------

4. Investments

	£
Cost
At 1 April 2015 and 31 March 2016	1,102
	-------
Impairment
At 1 April 2015 and 31 March 2016	–
	-------
Carrying amount
At 31 March 2016	1,102
	-------

5. Called up share capital

Issued, called up and fully paid

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	60	60	70	70
	----	----	----	----

During the year the company repurchased shares with a nominal value of £10 (2015 - £20). On the same date the company cancelled the shares with a nominal value of £10 (2015 - £20). No shares in the company were held by the company at the year end (2015 - Nil). Each share entitles the holder to receive notice, attend speak and to vote at any general meeting. Each share is entitled to participate pair pass in dividend payments or any other distribution. Each share is entitled to participate in any distribution arising from a return of capital, liquidation, capital reduction or winding up of a company. The shares do not confer any rights of redemption.