Company Registration No. 9725943 (England and Wales)
Ian Sykes and Co Limited
Unaudited accounts
for the period from 1 February 2017 to 31 December 2017
Ian Sykes and Co Limited
Unaudited accounts
Contents
Ian Sykes and Co Limited
Company Information
for the period from 1 February 2017 to 31 December 2017
Directors
Ian Sykes
Karen Sykes
Company Number
9725943 (England and Wales)
Accountants
Ian Sykes and Co Limited
1 Windlesham Gardens
Shoreham by Sea
West Sussex
BN43 5AD
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Ian Sykes and Co Limited
for the period from 1 February 2017 to 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Ian Sykes and Co Limited for the period from
1 February 2017 to
31 December 2017 as set out on pages
5 -
7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Ian Sykes and Co Limited
Chartered Certified Accountants
1 Windlesham Gardens
Shoreham by Sea
West Sussex
BN43 5AD
2 January 2018
Ian Sykes and Co Limited
Statement of financial position
as at 31 December 2017
Cash at bank and in hand
11,889
1,746
Creditors: amounts falling due within one year
(14,577)
(11,209)
Net current assets/(liabilities)
6,603
(6,274)
Net assets/(liabilities)
6,878
(5,874)
Called up share capital
100
100
Profit and loss account
6,778
(5,974)
Shareholders' funds
6,878
(5,874)
For the period ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 2 January 2018.
Ian Sykes
Director
Company Registration No. 9725943
Ian Sykes and Co Limited
Notes to the Accounts
for the period from 1 February 2017 to 31 December 2017
Ian Sykes and Co Limited is a private company, limited by shares, registered in England and Wales, registration number 9725943.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the period from 1 February 2017 to 31 December 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 10 August 2015
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Revenue, described as turnover, is the value of work performed during the year with respect to services.
Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
The cost of the right to use the company's trademark is amortised on a straight line basis over 5 years, this being the period of the licence.
4
Intangible fixed assets
Other
5
Debtors
31/12/2017
31/01/2017
Accrued income and prepayments
236
1,916
Ian Sykes and Co Limited
Notes to the Accounts
for the period from 1 February 2017 to 31 December 2017
6
Creditors: amounts falling due within one year
31/12/2017
31/01/2017
Taxes and social security
5,741
582
Loans from directors
7,090
10,169
7
Transactions with related parties
The loan from the directors has not been overdrawn at any time during the year. It is non interest bearing and repayable on demand.
8
Average number of employees
During the period the average number of employees was 2 (31/01/2017: 2).