ACCOUNTS - Final Accounts preparation


Caseware UK (AP4) 2016.0.181 2016.0.1812017-10-312017-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2016-11-01078224422016-11-012017-10-31078224422015-11-012016-10-31078224422017-10-31078224422016-10-3107822442 c:Director1 2016-11-012017-10-3107822442 d:OfficeEquipment 2016-11-012017-10-3107822442 d:OfficeEquipment 2017-10-3107822442 d:OfficeEquipment 2016-10-3107822442 d:OfficeEquipment d:OwnedOrFreeholdAssets 2016-11-012017-10-3107822442 d:CurrentFinancialInstruments 2017-10-3107822442 d:CurrentFinancialInstruments 2016-10-3107822442 d:CurrentFinancialInstruments d:WithinOneYear 2017-10-3107822442 d:CurrentFinancialInstruments d:WithinOneYear 2016-10-3107822442 d:ShareCapital 2017-10-3107822442 d:ShareCapital 2016-10-3107822442 d:RetainedEarningsAccumulatedLosses 2017-10-3107822442 d:RetainedEarningsAccumulatedLosses 2016-10-3107822442 c:FRS102 2016-11-012017-10-3107822442 c:AuditExempt-NoAccountantsReport 2016-11-012017-10-3107822442 c:FullAccounts 2016-11-012017-10-3107822442 c:PrivateLimitedCompanyLtd 2016-11-012017-10-31iso4217:GBPxbrli:pure

Registered number: 07822442










J WALTERS & CO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2017


 
J WALTERS & CO LIMITED



BALANCE SHEET
AS AT 31 OCTOBER 2017

2017
2016
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,031
11,575

  
16,031
11,575

Current assets
  

Debtors: amounts falling due within one year
 5 
13,400
15,600

Cash at bank and in hand
 6 
47,752
108,176

  
61,152
123,776

Creditors: amounts falling due within one year
 7 
(12,316)
(72,866)

Net current assets
  
 
 
48,836
 
 
50,910

Total assets less current liabilities
  
64,867
62,485

  

Net assets
  
64,867
62,485


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
64,857
62,475

  
64,867
62,485


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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 July 2018.



Page 1


 
J WALTERS & CO LIMITED


    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2017


James Paul Walters
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2


 
J WALTERS & CO LIMITEDD


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

1.


General information

J Walters & Co Limited is a limited company registered in England and Wales with the registration number 07822442. The registered office address is 71-75 Shelton Street,Covent Garden, London, WC2H 9JQ. 

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

Interest income

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

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


 
J WALTERS & CO LIMITED

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

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%
straight line

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 4


 
J WALTERS & CO LIMITED

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

2.Accounting policies (continued)

 
2.10

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.


3.


Employees

Staff costs, including director's remuneration, were as follows:


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


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 November 2016
22,337


Additions
11,154



At 31 October 2017

33,491



Depreciation


At 1 November 2016
10,762


Charge for the year on owned assets
6,698



At 31 October 2017

17,460



Net book value



At 31 October 2017
16,031



At 31 October 2016
11,575

Page 5


 
J WALTERS & CO LIMITEDD


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

5.


Debtors

2017
2016
£
£


Trade debtors
11,400
15,600

Prepayments and accrued income
2,000
-

13,400
15,600



6.


Cash and cash equivalents

2017
2016
£
£

Cash at bank and in hand
47,752
108,176

47,752
108,176



7.


Creditors: Amounts falling due within one year

2017
2016
£
£

Corporation tax
3,320
32,671

Other taxation and social security
3,311
20,338

Other creditors
4,684
17,572

Accruals and deferred income
1,001
2,285

12,316
72,866


Page 6


 
J WALTERS & CO LIMITEDD


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

8.


First time adoption of FRS 102

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.

 
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