Alex Rowe Ltd - Period Ending 2017-06-30

Alex Rowe Ltd - Period Ending 2017-06-30


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Alex Rowe Ltd

Annual Report and Unaudited Financial Statements
Year Ended 30 June 2017

Registration number: 09633212

 

Alex Rowe Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Alex Rowe Ltd

Company Information

Director

Mr R A Rowe

Registered office

Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

Accountants

Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

 

Alex Rowe Ltd

Balance Sheet

30 June 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

3

642

474

Current assets

 

Debtors

4

2,250

1,500

Cash at bank and in hand

 

12,781

5,077

 

15,031

6,577

Creditors: Amounts falling due within one year

5

(6,075)

(4,670)

Net current assets

 

8,956

1,907

Net assets

 

9,598

2,381

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

9,498

2,281

Total equity

 

9,598

2,381

 

Alex Rowe Ltd

Balance Sheet

30 June 2017

For the financial year ending 30 June 2017 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

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

Approved and authorised by the director on 2 October 2017
 

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

Mr R A Rowe

Director

Company Registration Number: 09633212

 

Alex Rowe Ltd

Notes to the Financial Statements

Year Ended 30 June 2017

1

General information

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

The address of its registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

The principal place of business is:
11 Thatcher Avenue
Torquay
Devon
TQ1 2PD

These financial statements were authorised for issue by the director on 2 October 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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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.

Change in basis of accounting

The company's financial statements have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from previously extant UK GAAP to FRS102 as at 10 June 2015. There is no material impact on the reported financial position and financial performance.

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.

 

Alex Rowe Ltd

Notes to the Financial Statements

Year Ended 30 June 2017

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

Office equipment

33% Straight line

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments


 

 

Alex Rowe Ltd

Notes to the Financial Statements

Year Ended 30 June 2017

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2016

708

708

Additions

600

600

At 30 June 2017

1,308

1,308

Depreciation

At 1 July 2016

234

234

Charge for the period

432

432

At 30 June 2017

666

666

Carrying amount

At 30 June 2017

642

642

At 30 June 2016

474

474

4

Debtors

30 June 2017
 £

30 June 2016
 £

Trade debtors

2,250

1,500

2,250

1,500

5

Creditors

Note

30 June 2017
 £

30 June 2016
 £

Due within one year

 

Social security and other taxes

 

-

390

Other creditors

 

1,963

1,904

Accrued expenses

 

900

900

Corporation tax

3,212

1,476

 

6,075

4,670

 

Alex Rowe Ltd

Notes to the Financial Statements

Year Ended 30 June 2017

6

Transition to FRS 102

The company transitioned to FRS 102 from previously extant UK GAAP as at 10 June 2015.

There were no changes to the previously stated equity as at 10 June 2015 and 30 June 2016 or in the profit for the year ended 30 June 2016 as a result of the transition to FRS102.