Cheshire Secretarial Services Ltd 31/08/2017 iXBRL

Cheshire Secretarial Services Ltd 31/08/2017 iXBRL

CHESHIRE SECRETARIAL SERVICES LIMITED - Company Information

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31/08/2017 2017-08-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2016-09-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 04916928 2016-09-01 2017-08-31 04916928 2017-08-31 04916928 2015-09-01 2016-08-31 04916928 bus:Director1 2016-09-01 2017-08-31 04916928 core:WithinOneYear 2017-08-31 04916928 core:ShareCapital 2017-08-31 04916928 core:RetainedEarningsAccumulatedLosses 2017-08-31 04916928 bus:Director1 2017-08-31 04916928 bus:SmallEntities 2016-09-01 2017-08-31 04916928 bus:AuditExempt-NoAccountantsReport 2016-09-01 2017-08-31 04916928 bus:FullAccounts 2016-09-01 2017-08-31 04916928 bus:SmallCompaniesRegimeForAccounts 2016-09-01 2017-08-31 04916928 bus:PrivateLimitedCompanyLtd 2016-09-01 2017-08-31
Company registration number: 04916928
Cheshire Secretarial Services Ltd
Unaudited filleted financial statements
31 August 2017
Cheshire Secretarial Services Ltd
Contents
Statement of financial position
Notes to the financial statements
Cheshire Secretarial Services Ltd
Statement of financial position
31 August 2017
2017 2016
Note £ £ £ £
Current assets
Debtors 5 1,476 -
Cash at bank and in hand 1,049 -
_______ _______
2,525 -
Creditors: amounts falling due
within one year 6 ( 2,643) -
_______ _______
Net current liabilities ( 118) -
_______ _______
Total assets less current liabilities ( 118) -
_______ _______
Net (liabilities)/assets ( 118) -
_______ _______
Capital and reserves
Called up share capital 1 -
Profit and loss account ( 120) -
_______ _______
Shareholder (deficit)/funds ( 119) -
_______ _______
For the year ending 31 August 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 member has 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 30 May 2018 , and are signed on behalf of the board by:
Alexander Martin
Director
Company registration number: 04916928
Cheshire Secretarial Services Ltd
Notes to the financial statements
Year ended 31 August 2017
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 52 Oak Street, Manchester, M4 5JA.
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 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.
Going concern
At the balance sheet date the liabilites of the company exceeded its assets by £119. The accounts have been drawn up on a going concern basis on the assumption that the support of the director and creditors will continue for the foreseeable future.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 September 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Staff costs
The average number of persons employed by the company during the year amounted to 2 (2016: 2 ).
5. Debtors
2017 2016
£ £
Other debtors 1,476 -
_______ _______
6. Creditors: amounts falling due within one year
2017 2016
£ £
Social security and other taxes 2,093 -
Other creditors 550 -
_______ _______
2,643 -
_______ _______
7. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2017
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Alexander Martin - 1,226 1,226
_______ _______ _______
2016
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Alexander Martin - - -
_______ _______ _______
At the year-end date the director had been advanced £1,226, this amount loaned was interest free and cleared after the year-end.
8. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 September 2015.
Reconciliation of equity
No transitional adjustments were required.
Reconciliation of profit or loss for the year
No transitional adjustments were required.