REGISTERED NUMBER: |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED |
STRATEGIC REPORT, |
REPORT OF THE DIRECTOR AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
REGISTERED NUMBER: |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED |
STRATEGIC REPORT, |
REPORT OF THE DIRECTOR AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2018 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Director | 3 | to | 4 |
Report of the Independent Auditors | 5 | to | 6 |
Income Statement | 7 |
Other Comprehensive Income | 8 |
Statement of Financial Position | 9 |
Statement of Changes in Equity | 10 |
Statement of Cash Flows | 11 |
Notes to the Statement of Cash Flows | 12 |
Notes to the Financial Statements | 13 | to | 19 |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 March 2018 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
3 Castlegate |
Grantham |
Lincolnshire |
NG31 6SF |
BANKERS: |
33 - 35 High Street |
Grantham |
Lincolnshire |
NG31 6PH |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
STRATEGIC REPORT |
for the Year Ended 31 March 2018 |
The director presents his strategic report for the year ended 31 March 2018. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of corporate finance advice. |
REVIEW OF BUSINESS |
The director aims to present a balanced and comprehensive review of the business development and performance for |
the year ended 31 March 2018 and of its position at the year end. |
The director is pleased to report a satisfactory profit for 2018. The Company's income comprised principally of |
consultancy income, although it is engaged in a number of fund raising projects which are expected to come to |
fruition in the coming year. |
The key performance indicators are considered to be those that communicate the financial performance and strength |
of the company as a whole, these being turnover, gross profit and net profit. These are as set out on page 7. |
The Company is now seeking to build its traditional corporate finance business in the background of an improving |
economy. It has taken offices in London and is recruiting staff to support this activity as well as providing research and |
corporate investment advice. |
As for many businesses of our size, the business environment in which we operate continues to be challenging. |
Despite the challenging market place and economic climate our ability to offer and deliver a high level of service has |
enabled the company to continue to move forward. We have and are still continuing to develop additional facilities |
and services to complement our existing business. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The main risks arising from the company's activities are liquidity risk and credit risk. |
Liquidity risk |
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs. |
Short term flexibility is achieved by maintaining sufficient cash balances and ensuring there are only limited exposures |
to unavoidable ongoing overheads. |
Credit risk |
The company seeks to manage its credit risk by constant monitoring of the credit-worthiness of customers and by |
identifying and addressing any credit issues in a timely manner. |
ON BEHALF OF THE BOARD: |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
REPORT OF THE DIRECTOR |
for the Year Ended 31 March 2018 |
The director presents his report with the financial statements of the company for the year ended 31 March 2018. |
DIVIDENDS |
Interim dividends per share were paid as follows: |
12,000 | - 30 June 2017 |
10,000 | - 30 September 2017 |
10,000 | - 31 December 2017 |
8,000 | - 31 March 2018 |
The director recommends that no final dividend be paid. |
The total distribution of dividends for the year ended 31 March 2018 will be £ |
DIRECTOR |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements |
in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the |
director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted |
Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director |
must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of |
affairs of the company and of the profit or loss of the company for that period. In preparing these financial |
statements, the director is required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for |
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of |
fraud and other irregularities. |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
REPORT OF THE DIRECTOR |
for the Year Ended 31 March 2018 |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act |
2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a |
director in order to make himself aware of any relevant audit information and to establish that the company's |
auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED |
Opinion |
We have audited the financial statements of Shire Warwick Lewis Corporate Finance Limited (the 'company') for the |
year ended 31 March 2018 which comprise the Income Statement, Other Comprehensive Income, Statement of |
Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash |
Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial |
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting |
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and |
Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those |
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent |
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's |
members as a body, for our audit work, for this report, or for the opinions we have formed. |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 March 2018 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. |
Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the |
financial statements section of our report. We are independent of the company in accordance with the ethical |
requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, |
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the |
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to |
you where: |
- | the director's use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or |
- | the director has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
Other information |
The director is responsible for the other information. The other information comprises the information in the Strategic |
Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors |
thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise |
explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in |
doing so, consider whether the other information is materially inconsistent with the financial statements or our |
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material |
inconsistencies or apparent material misstatements, we are required to determine whether there is a material |
misstatement in the financial statements or a material misstatement of the other information. If, based on the work |
we have performed, we conclude that there is a material misstatement of this other information, we are required to |
report that fact. We have nothing to report in this regard. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED |
Opinion on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the |
audit, we have not identified material misstatements in the Strategic Report or the Report of the Director. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to |
you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of director |
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is |
responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, |
and for such internal control as the director determines necessary to enable the preparation of financial statements |
that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a |
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of |
accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic |
alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from |
material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. |
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with |
ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and |
are considered material if, individually or in the aggregate, they could reasonably be expected to influence the |
economic decisions of users taken on the basis of these financial statements. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial |
Reporting Council's website at www.frc.org.uk/auditorsresponsibilities . This description forms part of our Report of |
the Auditors. |
for and on behalf of |
3 Castlegate |
Grantham |
Lincolnshire |
NG31 6SF |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
INCOME STATEMENT |
for the Year Ended 31 March 2018 |
2018 | 2017 |
Notes | £ | £ |
REVENUE |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
Tax on profit | 5 |
PROFIT FOR THE FINANCIAL YEAR |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
OTHER COMPREHENSIVE INCOME |
for the Year Ended 31 March 2018 |
2018 | 2017 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
STATEMENT OF FINANCIAL POSITION |
31 March 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
PROVISIONS FOR LIABILITIES | 13 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 14 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director on |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
STATEMENT OF CHANGES IN EQUITY |
for the Year Ended 31 March 2018 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 April 2016 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 March 2017 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 March 2018 |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
STATEMENT OF CASH FLOWS |
for the Year Ended 31 March 2018 |
2018 | 2017 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Capital repayments in year |
Amount introduced by directors |
Amount withdrawn by directors | (217 | ) | - |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of year |
2 |
955 |
Cash and cash equivalents at end of year | 2 | 6,672 |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
NOTES TO THE STATEMENT OF CASH FLOWS |
for the Year Ended 31 March 2018 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2018 | 2017 |
£ | £ |
Profit before taxation |
Depreciation charges |
189,941 | 29,027 |
(Increase)/decrease in trade and other debtors | ( |
) |
Increase in trade and other creditors |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect |
of these Statement of Financial Position amounts: |
Year ended 31 March 2018 |
31/3/18 | 1/4/17 |
£ | £ |
Cash and cash equivalents | 6,672 |
Year ended 31 March 2017 |
31/3/17 | 1/4/16 |
£ | £ |
Cash and cash equivalents | 955 |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2018 |
1. | STATUTORY INFORMATION |
Shire Warwick Lewis Corporate Finance Limited is a |
and Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Critical judgements and estimation uncertainties |
In the application of the Company's accounting policies, management is required to make judgements, |
estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from |
other sources. The estimates and underlying assumptions are based on historical experience and other factors |
that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting |
estimates are recognised in the period in which the estimate is revised if the revision affects only that period, |
or in the period of the revision and future periods if the revision affects both current and future periods. |
The key source of estimation uncertainty that has a significant effect on the amounts recognised in the |
financial statements is as follows. |
Bad debt provision |
The company makes an estimate of the overall recoverable value of trade and other debtors. When assessing |
the impairment of trade and other debtors, management consider factors including the current credit rating of |
the debtor, the ageing profile of debtors and historical experience. Debtors are stated after provisions for |
impairment of £19,968 (2017 - £9,968). |
Revenue recognition |
Consultancy fee income is recognised as revenue is earned through the completion of work. |
Property, plant and equipment. |
Office Equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2018 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
reversal of the timing difference. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate |
of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the income statement on a straight line basis over the |
period of the lease. |
Assets acquired under finance leases or hire purchase contracts are capitalised in the statement of financial |
position and depreciated over their estimated useful lives. The related obligations, net of future finance |
charges, are included in creditors. |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2018 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. |
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at |
transaction price, unless the arrangement constitutes a financing transaction, where the transaction is |
measured at the present value of the future receipts discounted at a market rate of interest. |
At the end of each reporting period financial assets measured at amortised cost are assessed for objective |
evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying |
amount and the present value of the estimated cash flows discounted at the asset's original effective interest |
rate. The impairment loss is recognised in profit or loss. |
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or |
joint ventures, are initially measured at fair value, which is normally the transaction price. |
Such assets are subsequently carried at fair value and the changes in fair value are recognised in the income |
statement, except that investments in equity instruments that are not publically traded and whose fair values |
cannot be measured reliably are measured at cost less impairment. |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are |
settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another |
party or (c) control of the asset has been transferred to another party who has the practical ability to |
unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies |
and preference shares that are classified as debt, are initially recognised at transaction price, unless the |
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value |
of the future receipts discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year |
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at |
transaction price and subsequently measured at amortised cost using the effective interest method. |
3. | EMPLOYEES AND DIRECTORS |
2018 | 2017 |
£ | £ |
Wages and salaries |
Social security costs |
The average number of employees during the year was as follows: |
2018 | 2017 |
Management |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2018 |
3. | EMPLOYEES AND DIRECTORS - continued |
2018 | 2017 |
£ | £ |
Director's remuneration |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2018 | 2017 |
£ | £ |
Hire of plant and machinery |
Depreciation - owned assets |
Auditors' remuneration |
5. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2018 | 2017 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax | ( |
) |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is |
explained below: |
2018 | 2017 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2017 - |
Effects of: |
Capital allowances in excess of depreciation | ( |
) | - |
Depreciation in excess of capital allowances | - |
Expenses not deductible for tax purposes |
purposes |
Total tax charge |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2018 |
6. | DIVIDENDS |
2018 | 2017 |
£ | £ |
Ordinary shares of £1 each |
Interim |
7. | PROPERTY, PLANT AND EQUIPMENT |
Office |
Equipment |
£ |
COST |
At 1 April 2017 |
Additions |
At 31 March 2018 |
DEPRECIATION |
At 1 April 2017 |
Charge for year |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
Amounts owed by related parties |
Prepayments |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Finance leases (see note 11) |
Trade creditors |
Amounts owed to related parties |
Corporation tax |
Other creditors |
Director's loan account |
Accrued expenses |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2018 |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Finance leases (see note 11) |
11. | LEASING AGREEMENTS |
Minimum lease payments under finance leases fall due as follows: |
Finance leases |
2018 | 2017 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
12. | FINANCIAL INSTRUMENTS |
The company has the following financial instruments: |
2018 | 2017 |
£ | £ |
Financial assets that are debt instruments measured at amortised cost |
Trade debtors | 2,299 | 13,476 |
Amounts owed by related parties | 218,666 | 54,214 |
Financial liabilities measured at amortised cost |
Finance leases | 3,003 | - |
Trade creditors | 50 | 50 |
Amounts owed to related parties | - | 849 |
Other creditors | 30,450 | 7,250 |
Director's loan account | 313 | 530 |
The total interest income and interest expense for financial assets and financial liabilities that are not |
measured at fair value through profit or loss was £nil (2017 - £nil) and £nil (2017 - £nil) respectively. |
13. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 April 2017 |
Credit to Income Statement during year | ( |
) |
Balance at 31 March 2018 |
SHIRE WARWICK LEWIS CORPORATE FINANCE |
LIMITED (REGISTERED NUMBER: 04714674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2018 |
14. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £1 |
15. | RELATED PARTY DISCLOSURES |
The company made sales of £195,827 (2017 - £79,672) to companies in which the director is also a director. |
The net total amount due from related parties at the year end was £218,666 (2017 - £53,366). The amount |
due is unsecured and repayable on demand. |
The company made payments of £Nil (2017 - £4,200) to a close family member of the director for the rental of |
premises during the period. |
Key management personnel compensation |
Key management personnel compensation is considered to be the same as reported under director's |
remuneration disclosed in note 3. |
16. | CONTROLLING PARTY |
The controlling party is |