ACCOUNTS - Final Accounts


Caseware UK (AP4) 2016.0.181 2016.0.1812017-05-312017-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2016-06-01034775582016-06-012017-05-31034775582017-05-31034775582015-06-012016-05-31034775582016-05-3103477558 c:Director1 2016-06-012017-05-3103477558 d:FurnitureFittings 2016-06-012017-05-3103477558 d:FurnitureFittings 2017-05-3103477558 d:FurnitureFittings 2016-05-3103477558 d:FurnitureFittings d:OwnedOrFreeholdAssets 2016-06-012017-05-3103477558 d:OfficeEquipment 2016-06-012017-05-3103477558 d:OfficeEquipment 2017-05-3103477558 d:OfficeEquipment 2016-05-3103477558 d:OfficeEquipment d:OwnedOrFreeholdAssets 2016-06-012017-05-3103477558 d:ComputerEquipment 2016-06-012017-05-3103477558 d:ComputerEquipment 2017-05-3103477558 d:ComputerEquipment 2016-05-3103477558 d:ComputerEquipment d:OwnedOrFreeholdAssets 2016-06-012017-05-3103477558 d:OwnedOrFreeholdAssets 2016-06-012017-05-3103477558 d:CurrentFinancialInstruments 2017-05-3103477558 d:CurrentFinancialInstruments 2016-05-3103477558 c:OrdinaryShareClass1 2016-06-012017-05-3103477558 c:OrdinaryShareClass1 2017-05-3103477558 c:FRS102 2016-06-012017-05-3103477558 c:AuditExempt-NoAccountantsReport 2016-06-012017-05-3103477558 c:FullAccounts 2016-06-012017-05-3103477558 c:PrivateLimitedCompanyLtd 2016-06-012017-05-3103477558 d:WithinOneYear 2017-05-3103477558 d:WithinOneYear 2016-05-3103477558 d:BetweenOneFiveYears 2016-05-31xbrli:sharesiso4217:GBPxbrli:pure
Company registration number: 03477558







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2017


ELKINGTON & PARTNERS LIMITED






































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ELKINGTON & PARTNERS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 6


 


ELKINGTON & PARTNERS LIMITED
REGISTERED NUMBER:03477558



STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2017

2017
2016
Note
£
£

  

Fixed assets
  

Tangible assets
 4 
1,870
2,460

  
1,870
2,460

Current assets
  

Debtors: amounts falling due within one year
 5 
19,974
1,590

Cash at bank and in hand
  
66,516
18,284

  
86,490
19,874

Creditors: amounts falling due within one year
 6 
(31,507)
(15,836)

Net current assets
  
 
 
54,983
 
 
4,038

Total assets less current liabilities
  
56,853
6,498

  

  

  

Net assets
  
56,853
6,498


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
56,851
6,496

  
56,853
6,498


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 year 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.  




           
Page 1

 


ELKINGTON & PARTNERS LIMITED
REGISTERED NUMBER:03477558


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2017


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



M S Elkington
Director

Date: 20 February 2018
The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


ELKINGTON & PARTNERS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

1.


General information

Elkington & Partners Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Ashcombe House, 5 The Crescent, Leatherhead, Surrey, KT22 8DY.
The principal place of business is The Pheasantry, Vicarage Hill, Westerham, Kent, TN16 1FY.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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 3

 


ELKINGTON & PARTNERS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR 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
-
25% reducing balance basis
Office equipment
-
25% reducing balance basis
Computer equipment
-
33% straight line basis

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

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.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 June 2015 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.6

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 reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2016 - 1).

Page 4

 


ELKINGTON & PARTNERS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2016
5,349
3,102
8,534
16,985


Additions
215
-
-
215



At 31 May 2017

5,564
3,102
8,534
17,200



Depreciation


At 1 June 2016
5,202
2,837
6,486
14,525


Charge for the year on owned assets
37
66
702
805



At 31 May 2017

5,239
2,903
7,188
15,330



Net book value



At 31 May 2017
325
199
1,346
1,870


5.


Debtors

2017
2016
£
£


Trade debtors
18,000
-

Other debtors
700
700

Prepayments and accrued income
1,274
890

19,974
1,590



6.


Creditors: Amounts falling due within one year

2017
2016
£
£

Trade creditors
570
-

Corporation tax
24,575
6,129

Other taxation and social security
3,127
6,007

Accruals and deferred income
3,235
3,700

31,507
15,836


Page 5

 


ELKINGTON & PARTNERS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

7.


Share capital

2017
2016
£
£
Shares classified as equity

Allotted, called up and fully paid



2 Ordinary shares of £1 each
2
2


8.


Commitments under operating leases

At 31 May 2017 the Company had future minimum lease payments under non-cancellable operating leases as follows:

2017
2016
£
£


Not later than 1 year
7,250
8,450

Later than 1 year and not later than 5 years
-
7,250

7,250
15,700


9.


First time adoption of FRS 102

The Company transitioned to FRS 102 from previously extant UK GAAP as at 1 June 2015. The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
Page 6