ACCOUNTS - Final Accounts preparation

MATT SHEARER CONSULTANCY SERVICES LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-05-312017-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseConsultancyfalse2016-05-11 10175394 2016-05-10 10175394 2016-05-11 2017-05-31 10175394 2017-05-31 10175394 c:CompanySecretary1 2016-05-11 2017-05-31 10175394 c:Director1 2016-05-11 2017-05-31 10175394 c:Director1 2017-05-31 10175394 c:RegisteredOffice 2016-05-11 2017-05-31 10175394 d:FurnitureFittings 2016-05-11 2017-05-31 10175394 d:FurnitureFittings d:OwnedOrFreeholdAssets 2016-05-11 2017-05-31 10175394 d:CurrentFinancialInstruments 2017-05-31 10175394 d:CurrentFinancialInstruments d:WithinOneYear 2017-05-31 10175394 d:ShareCapital 2017-05-31 10175394 d:RetainedEarningsAccumulatedLosses 2017-05-31 10175394 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-05-31 10175394 c:FRS102 2016-05-11 2017-05-31 10175394 c:AuditExempt-NoAccountantsReport 2016-05-11 2017-05-31 10175394 c:FullAccounts 2016-05-11 2017-05-31 10175394 c:PrivateLimitedCompanyLtd 2016-05-11 2017-05-31 iso4217:GBP xbrli:pure

MATT SHEARER CONSULTANCY SERVICES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2017

MATT SHEARER CONSULTANCY SERVICES LIMITED

COMPANY INFORMATION

Director	Matthew Shearer (appointed 11 May 2016)


Company secretary	Clifford Fry & Co (Company Secretarial) Limited


Registered number	10175394


Registered office	St Mary's House
	Netherhampton
	Salisbury
	Wiltshire
	SP2 8PU


Accountants	Clifford Fry & Co LLP
	St Mary's House
	Netherhampton
	Salisbury
	Wiltshire
	SP2 8PU

MATT SHEARER CONSULTANCY SERVICES LIMITED

REGISTERED NUMBER: 10175394

BALANCE SHEET

AS AT 31 MAY 2017

		2017
Note		£


Current assets
Debtors: amounts falling due within one year	5	78
Cash at bank and in hand	6	68,688
		68,766
Creditors: amounts falling due within one year	7	(23,605)
Net current assets			45,161
Total assets less current liabilities			45,161

Net assets			45,161

Capital and reserves
Called up share capital			100
Profit and loss account			45,061
			45,161

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2017.

Matthew Shearer

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

MATT SHEARER CONSULTANCY SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2017

1.	General information

Matt Shearer Consultancy Services Limited is a company limited by its share capital, incorporated in England. The principal activity throughout the period was that of consultancy services. The principal place of business is 48 Broadfield, Gomeldon, Salisbury, Wiltshire, SP4 6LY.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

MATT SHEARER CONSULTANCY SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2017

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings

20%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

2.9

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

Page 3

MATT SHEARER CONSULTANCY SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2017

2.Accounting policies (continued)

2.10

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the period was 10.

4.	Tangible fixed assets

		Fixtures and fittings
		£

	Additions	1,073
	Disposals	(1,073)
	At 31 May 2017	-

	Charge for the period on owned assets	215
	Disposals	(215)
	At 31 May 2017	-
	Net book value
	At 31 May 2017	-

Page 4

MATT SHEARER CONSULTANCY SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2017

Debtors

					2017
					£


	Prepayments and accrued income	78
		78

6.	Cash and cash equivalents
		2017
		£

	Cash at bank and in hand	68,688
		68,688

7.	Creditors: Amounts falling due within one year
		2017
		£

	Corporation tax	22,089
	Other taxation and social security	1,516
		23,605

8.	Financial instruments
		2017
		£

	Financial assets
	Financial assets measured at fair value through profit or loss	68,688
		68,688

Financial assets measured at fair value through profit or loss comprise of cash in bank and in hand.

Page 5

MATT SHEARER CONSULTANCY SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2017

9.	Controlling party

The company is controlled by the director's wife, Nina Shearer, by virtue of her shareholding.

Page 6