Adam & Co. Accountants Limited,Ltd - AccountsLtd - Accounts

Adam & Co. Accountants Limited,Ltd - AccountsLtd - Accounts

ADAM & CO ACCOUNTANTS LIMITED - Company Information

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2016-04-01 06474977 2017-03-31 06474977 2016-04-01 2017-03-31 06474977 2016-03-31 06474977 2015-04-01 2016-03-31 06474977 uk-core:WithinOneYear 2016-03-31 06474977 uk-core:WithinOneYear 2017-03-31 06474977 uk-core:ShareCapital 2017-03-31 06474977 uk-core:ShareCapital 2016-03-31 06474977 uk-core:RetainedEarningsAccumulatedLosses 2017-03-31 06474977 uk-core:RetainedEarningsAccumulatedLosses 2016-03-31 06474977 uk-bus:Director1 2016-04-01 2017-03-31 06474977 uk-core:NetGoodwill 2016-04-01 2017-03-31 06474977 uk-core:PlantMachinery 2016-04-01 2017-03-31 06474977 uk-core:FurnitureFittings 2016-04-01 2017-03-31 06474977 uk-core:Goodwill 2016-03-31 06474977 uk-core:Goodwill 2017-03-31 06474977 uk-core:FurnitureFittings 2016-03-31 06474977 uk-core:PlantMachinery 2016-03-31 06474977 uk-core:Buildings 2016-03-31 06474977 uk-core:Buildings 2016-04-01 2017-03-31 06474977 uk-core:Buildings 2017-03-31 06474977 uk-core:PlantMachinery 2017-03-31 06474977 uk-core:FurnitureFittings 2017-03-31 iso4217:GBP 06474977 uk-bus:AuditExemptWithAccountantsReport 2016-04-01 2017-03-31 06474977 uk-bus:FRS102 2016-04-01 2017-03-31 06474977 uk-bus:FullAccounts 2016-04-01 2017-03-31 06474977 uk-bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31
Adam & Co. Accountants Limited
Registered Number:06474977
For the year ended 31 March 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2017
Adam & Co. Accountants Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 March 2017
Adam & Co. Accountants Limited
Statement of Financial Position
Registered Number :
06474977
£
£
2016
2017
Notes
Fixed assets
Intangible assets
20,000
20,000
2
Property, plant and equipment
38,614
30,219
3
58,614
50,219
Current assets
Trade and other receivables
53,917
35,354
4
27,847
Cash and cash equivalents
31,010
66,364
81,764
Trade and other payables: amounts falling due within one
year
(99,145)
(76,618)
5
(17,381)
(10,254)
Net current liabilities
Total assets less current liabilities
48,360
32,838
48,360
Net assets
32,838
Capital and reserves
Called up share capital
200
200
Retained earnings
48,160
32,638
48,360
32,838
Shareholders' funds
For the year ended 31 March 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Mr Salim Hajee Director
These financial statements were approved and authorised for issue by the Board on 28 April 2017 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 March 2017
Adam & Co. Accountants Limited
Notes to the Financial Statements
Statutory Information
Adam & Co. Accountants Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 06474977.
Registered address:
Adam & Co Accountants Ltd
Adamson House
251 Derby Street
Bolton
BL3 6LA
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 0 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20% Straight line
20% Straight line
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Debtors include amounts recoverable on long term contracts which are stated at the net sales value of the work done after provision for contingencies and any anticipated future losses on contracts, less amounts received as progress payments on account. Any excess progress payments are included in creditors as payments on account.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Controlling Parties
The Director is considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of
the operational and financial policies of the company.
2 of 4
5
For the year ended 31 March 2017
Adam & Co. Accountants Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2016
20,000
At 31 March 2017
20,000
Net book value
At 31 March 2017
20,000
At 31 March 2016
20,000
3. Property, plant and equipment
Total
Fixtures and
fittings
Plant and
machinery
Land and
buildings
£
£
£
£
Cost or
valuation
At 01 April 2016
56,973
37,616
19,357
-
17,132
304
2,508
14,320
Additions
At 31 March 2017
14,320
21,865
37,920
74,105
Provision for depreciation and impairment
At 01 April 2016
26,754
12,540
14,214
-
Charge for year
8,737
6,320
2,417
-
At 31 March 2017
35,491
18,860
16,631
-
At 31 March 2017
Net book value
14,320
5,234
19,060
38,614
At 31 March 2016
-
5,143
25,076
30,219
4. Trade and other receivables
2016
2017
£
£
Trade debtors
22,669
33,944
Other debtors
12,685
19,973
53,917
35,354
3 of 4
6
For the year ended 31 March 2017
Adam & Co. Accountants Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
18,156
20
Taxation and social security
38,200
41,811
Other creditors
20,262
57,314
76,618
99,145
4 of 4