ACADEMY FINANCIAL SERVICES LIMITED

Company Registration Number:
07197994 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2018

Period of accounts

Start date: 01 April 2017

End date: 31 March 2018

ACADEMY FINANCIAL SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2018

Balance sheet
Notes

ACADEMY FINANCIAL SERVICES LIMITED

Balance sheet

As at 31 March 2018


Notes
2018
2017


£
£
Current assets
Cash at bank and in hand: 25,824 25,856
Total current assets: 25,824 25,856
Creditors: amounts falling due within one year: 3 (27,324) (23,054)
Net current assets (liabilities): (1,500) 2,802
Total assets less current liabilities: (1,500) 2,802
Total net assets (liabilities): (1,500) 2,802
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (1,600) 2,702
Shareholders funds: (1,500) 2,802

The notes form part of these financial statements

ACADEMY FINANCIAL SERVICES LIMITED

Balance sheet statements

For the year ending 31 March 2018 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 May 2018
and signed on behalf of the board by:

Name: S Bird
Status: Director

The notes form part of these financial statements

ACADEMY FINANCIAL SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Other accounting policies

TaxationThe taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

ACADEMY FINANCIAL SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

2. Employees

2018 2017
Average number of employees during the period 2 2

ACADEMY FINANCIAL SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

3. Creditors: amounts falling due within one year note

Corporation tax: £19,849-2018, £17,444-£2017Social security and other taxes: £5,832-2018, £3,888-2017Other creditors: £1,643-2018, £1,722-2017