ADC Accountants Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07045163 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

ADC ACCOUNTANTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I A Barnes

S Hodson

REGISTERED OFFICE:

15 Market Street

Standish

Wigan

Lancashire

WN6 0HW

REGISTERED NUMBER:

07045163 (England and Wales)

ACCOUNTANTS:

ADC Accountants Limited

Chartered Cert. Accountants

15 Market Street

Standish

Wigan

Lancashire

WN6 0HW

FIXED ASSETS

Intangible assets

4

37,800

56,700

Tangible assets

5

6,196

5,115

43,996

61,815

CURRENT ASSETS

Stocks

75,427

64,390

Debtors

6

48,615

29,665

Cash at bank and in hand

13,524

14,094

137,566

108,149

CREDITORS

Amounts falling due within one year

7

180,884

169,306

NET CURRENT LIABILITIES

(43,318

)

(61,157

)

TOTAL ASSETS LESS CURRENT LIABILITIES

678

658

CAPITAL AND RESERVES

Called up share capital

8

490

490

Retained earnings

188

168

SHAREHOLDERS' FUNDS

678

658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 30 January 2019 and were signed on its behalf by:

S Hodson - Director

1.	STATUTORY INFORMATION

ADC Accountants 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

Taxation

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

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to

the company's pension scheme are charged to profit or loss in the period to which they

relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2017 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2017

and 30 April 2018

189,000

AMORTISATION

At 1 May 2017

132,300

Charge for year

18,900

At 30 April 2018

151,200

NET BOOK VALUE

At 30 April 2018

37,800

At 30 April 2017

56,700

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2017

9,382

9,280

18,662

Additions

3,150

-

3,150

At 30 April 2018

12,532

9,280

21,812

DEPRECIATION

At 1 May 2017

7,727

5,820

13,547

Charge for year

1,202

867

2,069

At 30 April 2018

8,929

6,687

15,616

NET BOOK VALUE

At 30 April 2018

3,603

2,593

6,196

At 30 April 2017

1,655

3,460

5,115

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

48,615

29,665

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade creditors

6,949

2,790

Taxation and social security

47,127

33,883

Other creditors

126,808

132,633

180,884

169,306

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.18

30.4.17

value:

£

£

100

Ordinary

£1

100

100

390

Class A - non voting

£1

390

390

490

490