ALM Services UK Limited - Period Ending 2017-12-31

ALM Services UK Limited - Period Ending 2017-12-31


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Registration number: 06745855

ALM Services UK Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2017

 

ALM Services UK Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

ALM Services UK Limited

(Registration number: 06745855)
Balance Sheet as at 31 December 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

4

28,132

17,203

Current assets

 

Debtors

5

1,185,585

1,019,642

Cash at bank and in hand

 

113,472

77,909

 

1,299,057

1,097,551

Creditors: Amounts falling due within one year

6

(162,307)

(120,219)

Net current assets

 

1,136,750

977,332

Net assets

 

1,164,882

994,535

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

1,163,882

993,535

Total equity

 

1,164,882

994,535

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 September 2018
 

.........................................

Anna Machkevitch

Director

 

ALM Services UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

1

General information

The company is a private company limited by share capital, incorporated in England and wales.

The address of its registered office is:
22 Bruton Street
London
W1J 6QE
United Kingdom

These financial statements were authorised for issue by the director on 25 September 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

ALM Services UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% on a straight line basis

Furniture and fittings

25% on a straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2016 - 14).

 

ALM Services UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2017

13,495

5,272

18,767

Additions

1,080

15,751

16,831

At 31 December 2017

14,575

21,023

35,598

Depreciation

At 1 January 2017

843

721

1,564

Charge for the year

3,599

2,303

5,902

At 31 December 2017

4,442

3,024

7,466

Carrying amount

At 31 December 2017

10,133

17,999

28,132

At 31 December 2016

12,652

4,551

17,203

5

Debtors

2017
£

2016
£

Trade debtors

1,097,151

963,013

Prepayments

3,600

2,280

Other debtors

84,834

54,349

1,185,585

1,019,642

6

Creditors

Creditors: amounts falling due within one year

Note

2017
£

2016
£

Due within one year

 

Taxation and social security

 

76,699

70,283

Other creditors

 

85,608

49,936

 

162,307

120,219

7

Share capital

Allotted, called up and fully paid shares

 

ALM Services UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

 

2017

2016

 

No.

£

No.

£

Ordinary share of £1 each

1,000

1,000

1,000

1,000

         

8

Related party transactions

Directors' remuneration

The director's remuneration for the year was as follows:

2017
£

2016
£

Remuneration

50,000

50,000