Ian Hall Associates Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03838981

Ian Hall Associates Limited

Filleted Unaudited Financial Statements

31 October 2018

Ian Hall Associates Limited

Statement of Financial Position

31 October 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	6		1	1

Current assets

Debtors	7	858	1,067
Cash at bank and in hand		272	46,533
		-------	--------
		1,130	47,600

Creditors: amounts falling due within one year	8	5,536		10,538
		-------		--------
Net current (liabilities)/assets			( 4,406)	37,062
			-------	--------
Total assets less current liabilities			( 4,405)	37,063
			-------	--------
Net (liabilities)/assets			( 4,405)	37,063
			-------	--------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 5,405)	36,063
	-------	--------
Shareholders (deficit)/funds	( 4,405)	37,063
	-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ian Hall Associates Limited

Statement of Financial Position (continued)

31 October 2018

These financial statements were approved by the board of directors and authorised for issue on 8 April 2019 , and are signed on behalf of the board by:

Mr I N Hall

Director

Company registration number: 03838981

Ian Hall Associates Limited

Notes to the Financial Statements

Year ended 31 October 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hartfield, Fir Tree Hill, Chandlers Cross, Rickmansworth, Herts, WD3 4LZ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the state of completion.

Corporation tax

Current UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet. Deferred tax is provided in full on all timing differences which result in an obligation at the balance sheet date, to pay more, or a right to pay less at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax asset are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted .

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date .

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Debenture	-	Over 10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	20% straight line
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date .

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Intangible assets

	Debenture
	£
Cost
At 1 November 2017	18,870
Additions	–
Disposals	( 18,870)
	--------
At 31 October 2018	–
	--------
Amortisation
At 1 November 2017	18,870
Charge for the year	–
Disposals through business combinations	( 18,870)
	--------
At 31 October 2018	–
	--------
Carrying amount
At 31 October 2018	–
	--------
At 31 October 2017	–
	--------

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 November 2017 and 31 October 2018	32,661	34,582	67,243
	--------	--------	--------
Depreciation
At 1 November 2017 and 31 October 2018	32,660	34,582	67,242
	--------	--------	--------
Carrying amount
At 31 October 2018	1	–	1
	--------	--------	--------
At 31 October 2017	1	–	1
	--------	--------	--------

7. Debtors

	2018	2017
	£	£
Other debtors	858	1,067
	----	-------

8. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	2,268	–
Corporation tax	–	8,844
Other creditors	3,268	1,694
	-------	--------
	5,536	10,538
	-------	--------

9. Related party transactions

The company was under the control of Mr I Hall throughout current year. Mr I Hall is a director and shareholder of the company. At the year end Mr I Hall owed the company £nil (2017 - £nil). During the year Ian Hall Associates Limited made sales amounting to £4,920 (2017: £4,764) to Hartfield Developments Limited, a company where Mr I Hall is a director. At 31 October 2018 Hartfield Developments Limited owed Ian Hall Associates Limited £nil (2017: £nil). All transactions were on normal commercial terms.