de Freitas & Co. Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04724502 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

DE FREITAS & CO. LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Francis de Freitas

SECRETARY:

Francis de Freitas

REGISTERED OFFICE:

39 Berwyn Road

Richmond

Surrey

TW10 5BU

REGISTERED NUMBER:

04724502 (England and Wales)

FIXED ASSETS

Intangible assets

4

12,500

15,000

CURRENT ASSETS

Stocks

2,090

100

Debtors

5

5,928

30,447

Cash at bank

18,216

12,377

26,234

42,924

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6

23,171

28,657

NET CURRENT ASSETS

3,063

14,267

TOTAL ASSETS LESS CURRENT LIABILITIES

15,563

29,267

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

15,562

29,266

SHAREHOLDERS' FUNDS

15,563

29,267

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 1 December 2018 and were signed by:

Francis de Freitas - Director

1.	Statutory information

de Freitas & Co. Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The director has not been required to make any material critical judgements in the process of applying the

company's accounting policies.

Turnover

Turnover arises from the provision of accountancy and business consultancy services. Revenue is

recognised when the outcome of a transaction can be estimated reliably, by reference to the stage of

completion of the transaction at the end of the reporting period.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Work in progress

Work in progress is valued at the lower of sales value and net realisable value.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of

the financial instrument. The company holds only basic financial instruments which comprise cash and

cash equivalents, trade debtors and borrowings.

Cash and cash equivalents - these include cash in hand and deposits held with banks.

Trade debtors - these are initially recognised at the transaction price and are subsequently measured at

amortised cost using the effective interest method, less any provision for impairment. Amounts that are

receivable within one year are measured at the undiscounted amount expected to be receivable, net of

any impairment.

Borrowings - these are initially measured at the transaction price and are subsequently measured at

amortised cost using the effective interest method. Amounts that are payable within one year are

measured at the undiscounted amount expected to be payable.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Income Statement.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been

enacted or substantively enacted by the statement of financial position date.

3.	Employees and directors

The average number of employees during the year was 1 (2017 - 1 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2017

and 31 March 2018

50,000

Amortisation

At 1 April 2017

35,000

Charge for year

2,500

At 31 March 2018

37,500

Net book value

At 31 March 2018

12,500

At 31 March 2017

15,000

Goodwill arose on the purchase of an unincorporated business in 2003 and is being amortised over 20

years. In the opinion of the directors this represents a prudent estimate of the period over which the

company will derive economic benefit from this asset.

5.

Debtors: amounts falling due within one year

2018

2017

£

£

Trade debtors

5,928

30,447

6.

Creditors: amounts falling due within one year

2018

2017

£

£

Corporation tax

7,106

13,591

Social security and other taxes

1,953

5,078

Loan from director

14,112

9,988

23,171

28,657

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1

Ordinary

£1

1

1