Registered number |
05278207 |
DOC SOCIETY |
(LIMITED BY GUARANTEE - NO SHARE CAPITAL) |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
DOC SOCIETY | |||
(LIMITED BY GUARANTEE - NO SHARE CAPITAL) | |||
CONTENTS | |||
Page | |||
Balance sheet | 1 | ||
Notes to the financial statements | 2 - 5 | ||
(LIMITED BY GUARANTEE - NO SHARE CAPITAL) | |||||||
Balance Sheet | |||||||
as at |
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Company Registration No. | 05278207 | ||||||
Notes | 2018 | 2017 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 2 | ||||||
Current assets | |||||||
Debtors | 3 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 4 | ( |
( |
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Net current assets | |||||||
Net assets | |||||||
Capital and reserves | |||||||
Profit and loss account | |||||||
Special reserve | 250,000 | 250,000 | |||||
Shareholders' funds | |||||||
………………………………….. | |||||||
Jess Search | |||||||
Director | |||||||
Approved by the board on |
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(LIMITED BY GUARANTEE - NO SHARE CAPITAL) | ||||||||
NOTES TO THE FINANCIAL STATEMENTS | ||||||||
FOR THE YEAR ENDED 31 MARCH 2018 | ||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. The financial statements have been prepared under the historical convention. The principal accounting policies adopted are set out below. |
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Turnover | ||||||||
Tangible fixed assets | ||||||||
Computer equipment | over 3 years | |||||||
Fixtures, fittings and equipment | 20% straight line | |||||||
Financial instruments | ||||||||
The company only enters into basic financial statements 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. Financial instruments are recognised in the company's balance sheet date when the company becomes party to the contractual provisions of the instruments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective of impairments found, an impairment loss is recognised in profit and loss accounts. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Debtors | ||||||||
Cash and cash equivalents | ||||||||
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with financial institutions, and other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. | ||||||||
Creditors | ||||||||
Taxation | ||||||||
The tax expense represents the sum of the tax currently payable and deferred tax. | ||||||||
Current tax | ||||||||
The current tax payable is based on taxable profit for the year. Taxable profit differs from net profit reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. | ||||||||
Deferred tax | ||||||||
Deferred tax liabilities are generally recognised for all timing differences and 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 profits. Such assets and liabilities are not recognised if the timing differences arises from goodwill or from the initial recognition of the assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the assets is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities relate to taxes levied by the same tax authority. |
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Provisions | ||||||||
Employee benefits | ||||||||
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
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Foreign currency translation | ||||||||
Retirement benefits | ||||||||
2 | Tangible fixed assets | |||||||
Fixtures, fittings and equipment | Computer equipment | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 April 2017 | ||||||||
Additions | ||||||||
At 31 March 2018 | ||||||||
Depreciation | ||||||||
At 1 April 2017 | ||||||||
Charge for the year | ||||||||
At 31 March 2018 | ||||||||
Net book value | ||||||||
At 31 March 2018 | ||||||||
At 31 March 2017 | ||||||||
3 | Debtors | 2018 | 2017 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Corporation tax recoverable | 741 | - | ||||||
Other taxes and social security | 5,153 | 9,243 | ||||||
Other debtors | ||||||||
4 | Creditors: amounts falling due within one year | 2018 | 2017 | |||||
£ | £ | |||||||
Trade creditors | ||||||||
Corporation tax | - | |||||||
Other taxes and social security costs | ||||||||
Other creditors | ||||||||
5 | Other information | |||||||
Doc Society is a private company limited by guarentee and incorporated in England and Wales. The registered office is: 37 Warren Street, London, W1T 6AD. |