Adelaide Jones & Co Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 4019027

Adelaide Jones & Co Limited

Filleted Unaudited Financial Statements

30 April 2018

Adelaide Jones & Co Limited

Statement of Financial Position

30 April 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	6		5,220	8,330

Current assets

Debtors	7	140,075	276,957
Investments	8	16,077	–
Cash at bank and in hand		272,793	212,893
		-------	-------
		428,945	489,850

Creditors: amounts falling due within one year	9	314,761		330,789
		-------		-------
Net current assets			114,184	159,061
			-------	-------
Total assets less current liabilities			119,404	167,391

Provisions

Taxation including deferred tax	390	367
	-------	-------
Net assets	119,014	167,024
	-------	-------

Capital and reserves

Called up share capital	2,000	2,000
Capital redemption reserve	1,000	1,000
Profit and loss account	116,014	164,024
	-------	-------
Shareholders funds	119,014	167,024
	-------	-------

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 30th April 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 .

These financial statements were approved by the board of directors and authorised for issue on 14 January 2019 , and are signed on behalf of the board by:

M R Nimba

Director

Company registration number: 4019027

Adelaide Jones & Co Limited

Notes to the Financial Statements

Year ended 30th April 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 5-11 Mortimer Street, London, W1T 3HS.

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

(a) 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 measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Revenue recognition

Turnover represents the invoiced value of services provided during the year exclusive of VAT. In respect of long-term contracts and 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 stage of completion.

(c) Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 be paid or recovered 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 that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

(d) Amortisation

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

	Goodwill	-	10 years

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(f) 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 & Equipment	-	25% straight line

(g) Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

(h) 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.

(i) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2017: 12 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1st May 2017 and 30th April 2018	115,000
	-------
Amortisation
At 1st May 2017 and 30th April 2018	115,000
	-------
Carrying amount
At 30th April 2018	–
	-------
At 30th April 2017	–
	-------

6. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1st May 2017	60,203	60,203
Additions	2,540	2,540
	------	------
At 30th April 2018	62,743	62,743
	------	------
Depreciation
At 1st May 2017	51,873	51,873
Charge for the year	5,650	5,650
	------	------
At 30th April 2018	57,523	57,523
	------	------
Carrying amount
At 30th April 2018	5,220	5,220
	------	------
At 30th April 2017	8,330	8,330
	------	------

7. Debtors

	2018	2017
	£	£
Trade debtors	80,269	127,947
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,471	74,471
Other debtors	57,335	74,539
	-------	-------
	140,075	276,957
	-------	-------

All these sums are receivable within one year.

8. Investments

	2018	2017
	£	£
Investments	16,077	–
	------	---

9. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	85,328	116,796
Corporation tax	55,148	53,244
Social security and other taxes	81,588	76,164
Other creditors	92,697	84,585
	-------	-------
	314,761	330,789
	-------	-------