Stephen Foot & Partners Limited Company Accounts

Stephen Foot & Partners Limited Company Accounts

STEPHEN FOOT & PARTNERS LIMITED - Company Information

Print Friendly Version

false false false false false false false false false true false false false false false false false No description of principal activity 2016-04-01 Sage Accounts Production Advanced 2017 Update 2 - FRS 2,432 1,620 812 2,432 812 25,000 25,000 xbrli:pure xbrli:shares iso4217:GBP 08023272 2016-04-01 2017-03-31 08023272 2017-03-31 08023272 2016-03-31 08023272 2015-04-01 2016-03-31 08023272 2016-03-31 08023272 bus:Director1 2016-04-01 2017-03-31 08023272 core:WithinOneYear 2017-03-31 08023272 core:WithinOneYear 2016-03-31 08023272 core:AfterOneYear 2017-03-31 08023272 core:AfterOneYear 2016-03-31 08023272 core:ShareCapital 2017-03-31 08023272 core:ShareCapital 2016-03-31 08023272 core:RetainedEarningsAccumulatedLosses 2017-03-31 08023272 core:RetainedEarningsAccumulatedLosses 2016-03-31 08023272 core:CostValuation core:Non-currentFinancialInstruments 2017-03-31 08023272 core:Non-currentFinancialInstruments 2017-03-31 08023272 bus:FRS102 2016-04-01 2017-03-31 08023272 bus:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 08023272 bus:FullAccounts 2016-04-01 2017-03-31 08023272 bus:SmallCompaniesRegimeForAccounts 2016-04-01 2017-03-31 08023272 bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 08023272 core:ComputerEquipment 2016-04-01 2017-03-31 08023272 core:ComputerEquipment 2017-03-31 08023272 core:ComputerEquipment 2016-03-31
COMPANY REGISTRATION NUMBER: 08023272
Stephen Foot & Partners Limited
Filleted Unaudited Financial Statements
31 March 2017
Stephen Foot & Partners Limited
Financial Statements
Year ended 31 March 2017
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Stephen Foot & Partners Limited
Statement of Financial Position
31 March 2017
2017
2016
Note
£
£
£
Fixed assets
Tangible assets
5
–
812
Investments
6
25,000
25,000
--------
--------
25,000
25,812
Current assets
Debtors
7
249,403
60,000
Cash at bank and in hand
52,089
89,566
---------
---------
301,492
149,566
Creditors: amounts falling due within one year
8
( 95,237)
( 20,090)
---------
---------
Net current assets
206,255
129,476
---------
---------
Total assets less current liabilities
231,255
155,288
Creditors: amounts falling due after more than one year
9
( 105,900)
( 96,141)
---------
---------
Net assets
125,355
59,147
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
125,255
59,047
---------
--------
Members funds
125,355
59,147
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Stephen Foot & Partners Limited
Statement of Financial Position (continued)
31 March 2017
These financial statements were approved by the board of directors and authorised for issue on 11 October 2017 , and are signed on behalf of the board by:
S J C Foot
Director
Company registration number: 08023272
Stephen Foot & Partners Limited
Notes to the Financial Statements
Year ended 31 March 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Quidhampton Farm House, Station Road, Overton, Hants, England, RG25 3EA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. 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.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Revenue recognition
Turnover represents the profit distribution received from participating interests.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting 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.
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:
Plant and machinery
-
33% straight line
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.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2016: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2016 and 31 March 2017
2,432
2,432
-------
-------
Depreciation
At 1 April 2016
1,620
1,620
Charge for the year
812
812
-------
-------
At 31 March 2017
2,432
2,432
-------
-------
Carrying amount
At 31 March 2017
–
–
-------
-------
At 31 March 2016
812
812
-------
-------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2016 and 31 March 2017
25,000
--------
Impairment
At 1 April 2016 and 31 March 2017
–
--------
Carrying amount
At 31 March 2017
25,000
--------
7. Debtors
2017
2016
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
249,403
60,000
---------
--------
8. Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
46
20
Corporation tax
48,005
6,187
Social security and other taxes
422
422
Other creditors
46,764
13,461
--------
--------
95,237
20,090
--------
--------
9. Creditors: amounts falling due after more than one year
2017
2016
£
£
Other creditors
105,900
96,141
---------
--------
10. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.