ALM Services UK Limited - Period Ending 2016-12-31

ALM Services UK Limited - Period Ending 2016-12-31


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Registration number: 06745855

ALM Services UK Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2016

 

ALM Services UK Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Abridged Financial Statements

3 to 5

 

ALM Services UK Limited

(Registration number: 06745855)
Abridged Balance Sheet as at 31 December 2016

Note

2016
£

2015
£

Fixed assets

 

Tangible assets

4

17,203

-

Current assets

 

Debtors

1,017,362

902,331

Cash at bank and in hand

 

77,909

50,772

 

1,095,271

953,103

Prepayments and accrued income

 

2,280

60,716

Creditors: Amounts falling due within one year

(70,283)

(151,807)

Net current assets

 

1,027,268

862,012

Total assets less current liabilities

 

1,044,471

862,012

Accruals and deferred income

 

(49,936)

(65,962)

Net assets

 

994,535

796,050

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

993,535

795,050

Total equity

 

994,535

796,050

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

ALM Services UK Limited

(Registration number: 06745855)
Abridged Balance Sheet as at 31 December 2016

Approved and authorised by the director on 27 September 2017
 

.........................................

Anna Machkevitch

Director

 

ALM Services UK Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

1

General information

The company is a private company limited by share capital incorporated in England and wales.

The address of its registered office is:
22 Bruton Street
London
W1J 6QE

These financial statements were authorised for issue by the director on 27 September 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% on a straight line basis

Furniture and fittings

25% on a straight line basis

 

ALM Services UK Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2015 - 14).

 

ALM Services UK Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

4

Tangible assets

Total
£

Cost or valuation

Additions

18,767

At 31 December 2016

18,767

Depreciation

Charge for the year

1,564

At 31 December 2016

1,564

Carrying amount

At 31 December 2016

17,203

5

Parent and ultimate parent undertaking

The company's immediate parent is ALM Luxembourg Holdings S.a.r.l., incorporated in Luxembourg.

 

6

Transition to FRS 102

The company transitioned to FRS 102 from previously extant UK GAAP as at 1 January 2016 however the transition did not have any effect on the opening balance of the company.