Adam Tracey Limited - Filleted accounts

Registered number

07427605

Adam Tracey Limited

Filleted Accounts

30 November 2017

Adam Tracey Limited
Registered number:		07427605
Balance Sheet
as at 30 November 2017

Notes			2017			2016
£				£
Current assets
Debtors	2	-			215
Cash at bank and in hand		7			7
		7			222

Creditors: amounts falling due within one year	3	(312)			(307)

Net current liabilities			(305)			(85)

Net liabilities			(305)			(85)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(405)			(185)

Shareholders' funds			(305)			(85)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Adam Jackson
Director
Approved by the board on 14 August 2018

Adam Tracey Limited
Notes to the Accounts
for the year ended 30 November 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Debtors	2017		2016
£			£

	Other debtors	-		215


3	Creditors: amounts falling due within one year	2017		2016
£			£

	Corporation tax	-		(83)
	Other creditors	312		390
		312		307


4	Other information

	Adam Tracey Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Bank House
	Market Street
	Whaley Bridge
	High Peak
	SK23 7AA