ACCOUNTS - Final Accounts


Caseware UK (AP4) 2016.0.181 2016.0.1812018-04-302018-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueTo act as a member of a limited liability partnership that provides professional servicesfalse2017-05-01075487512017-05-012018-04-30075487512018-04-30075487512017-04-3007548751 c:Director1 2017-05-012018-04-3007548751 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2018-04-3007548751 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2017-04-3007548751 d:CurrentFinancialInstruments 2018-04-3007548751 d:CurrentFinancialInstruments 2017-04-3007548751 d:Non-currentFinancialInstruments 2018-04-3007548751 d:Non-currentFinancialInstruments 2017-04-3007548751 d:CurrentFinancialInstruments d:WithinOneYear 2018-04-3007548751 d:CurrentFinancialInstruments d:WithinOneYear 2017-04-3007548751 d:ShareCapital 2018-04-3007548751 d:ShareCapital 2017-04-3007548751 d:OtherMiscellaneousReserve 2018-04-3007548751 d:OtherMiscellaneousReserve 2017-04-3007548751 d:RetainedEarningsAccumulatedLosses 2018-04-3007548751 d:RetainedEarningsAccumulatedLosses 2017-04-3007548751 c:FRS102 2017-05-012018-04-3007548751 c:AuditExempt-NoAccountantsReport 2017-05-012018-04-3007548751 c:FullAccounts 2017-05-012018-04-3007548751 c:PrivateLimitedCompanyLtd 2017-05-012018-04-30iso4217:GBP

Registered number: 07548751










A C GITTINS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2018

 
A C GITTINS LIMITED
REGISTERED NUMBER: 07548751

BALANCE SHEET
AS AT 30 APRIL 2018

2018
2017
Note
£
£

Fixed assets
  

Investments
 4 
209,405
203,180

  
209,405
203,180

Current assets
  

Debtors: amounts falling due after more than one year
 5 
328,828
263,968

Debtors: amounts falling due within one year
 5 
41,706
62,585

Cash at bank and in hand
 6 
77,156
97,688

  
447,690
424,241

Creditors: amounts falling due within one year
 7 
(11,968)
(39,322)

Net current assets
  
 
 
435,722
 
 
384,919

Total assets less current liabilities
  
645,127
588,099

  

Net assets
  
645,127
588,099


Capital and reserves
  

Called up share capital 
 8 
3
3

Other reserves
  
209,129
144,269

Profit and loss account
  
435,995
443,827

  
645,127
588,099


Page 1

 
A C GITTINS LIMITED
REGISTERED NUMBER: 07548751
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2018

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 profit and loss account 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 4 December 2018.




A C Gittins
Director

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

Page 2

 
A C GITTINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

1.


General information

A C Gittins Limited is a private limited company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at 39-41 Church Street, Oswestry, Shropshire, SY11 2SZ.

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 Profit and loss account 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 Profit and loss account 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

 
A C GITTINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in the Profit and loss account, 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

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.

  
2.7

Valuation of investments

Investments held as fixed assets are shown at cost less provision for impairment. Investments are stated at cost, plus allocated profits, less drawings to date, plus any revaluations.

 
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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument 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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Page 4

 
A C GITTINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

2.Accounting policies (continued)

 
2.11

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

The Company has no employees other than the directors, who did not receive any remuneration (2017 - £NIL).

The average monthly number of employees, including directors, during the year was 0 (2017 - 0).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 May 2017
203,180


Additions
6,225



At 30 April 2018

209,405






Net book value



At 30 April 2018
209,405



At 30 April 2017
203,180

Page 5

 
A C GITTINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

5.


Debtors

2018
2017
£
£

Due after more than one year

Debtor from associated undertakings
328,828
263,968

328,828
263,968


2018
2017
£
£

Due within one year

Other debtors
41,706
62,585

41,706
62,585



6.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
77,156
97,688

77,156
97,688



7.


Creditors: Amounts falling due within one year

2018
2017
£
£

Corporation tax
11,386
38,752

Accruals and deferred income
582
570

11,968
39,322


Page 6

 
A C GITTINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018

8.


Share capital

2018
2017
£
£
Allotted, called up and fully paid



0 (2017 - 3) Ordinary shares of £1.00 each
-
3.00
270 (2017 - 0) Ordinary 'A' shares of £0.01 each
2.70
-
15 (2017 - 0) Ordinary 'B' shares of £0.01 each
0.15
-
15 (2017 - 0) Ordinary 'C' shares of £0.01 each
0.15
-

3.00

3.00



9.


Transactions with directors

Included within other debtors is a loan to a director to the value of £41,706 (2017: £62,585). Interest has been charged at the official rate.

 
Page 7