A&J Perry Limited 29/06/2018 iXBRL

Company registration number: 06297949

A&J Perry Limited

Unaudited filleted financial statements

29 June 2018

A&J Perry Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

A&J Perry Limited

Directors and other information


	Directors	Mr A G Perry
		Mrs J Perry


	Secretary	Mrs J Perry


	Company number	06297949


	Registered office	1 Torver Close
		Burnley
		Lancashire
		BB12 8UH


	Business address	1 Torver Close
		Burnley
		Lancashire
		BB12 8UH


	Accountants	Windle & Bowker Limited
		Croft House
		Station Road
		Barnoldswick
		Lancashire
		BB18 5NA

A&J Perry Limited

Statement of financial position

29 June 2018

		2018		2017
	Note	£	£	£	£

Fixed assets
Intangible assets	5	176,300		176,300
Tangible assets	6	3,383		2,718
		_______		_______
			179,683		179,018

Current assets
Cash at bank and in hand		50,830		51,164
		_______		_______
		50,830		51,164
Creditors: amounts falling due
within one year	7	( 164,556)		( 173,567)
		_______		_______
Net current liabilities			( 113,726)		( 122,403)
			_______		_______
Total assets less current liabilities			65,957		56,615

			_______		_______
Net assets			65,957		56,615
			_______		_______

Capital and reserves
Called up share capital			200		200
Profit and loss account			65,757		56,415
			_______		_______
Shareholders funds			65,957		56,615
			_______		_______

For the year ending 29 June 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 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.

These financial statements were approved by the board of directors and authorised for issue on 21 March 2019 , and are signed on behalf of the board by:

Mr A G Perry

Director

Company registration number: 06297949

A&J Perry Limited

Notes to the financial statements

Year ended 29 June 2018

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 1 Torver Close, Burnley, Lancashire, BB12 8UH.

2. Statement of compliance

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 pay or recover 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 at the reporting date. Unrelieved tax losses and other 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 taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

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:


Goodwill	-	0 %

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 are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Fittings fixtures and equipment	-	20 %	reducing balance

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

Impairment

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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

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

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 30 June 2017 and 29 June 2018	215,000	215,000
	_______	_______
Amortisation
At 30 June 2017 and 29 June 2018	38,700	38,700
	_______	_______
Carrying amount
At 29 June 2018	176,300	176,300
	_______	_______
At 29 June 2017	176,300	176,300
	_______	_______

6. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 30 June 2017	10,312	10,312
Additions	1,511	1,511
	_______	_______
At 29 June 2018	11,823	11,823
	_______	_______
Depreciation
At 30 June 2017	7,594	7,594
Charge for the year	846	846
	_______	_______
At 29 June 2018	8,440	8,440
	_______	_______
Carrying amount
At 29 June 2018	3,383	3,383
	_______	_______
At 29 June 2017	2,718	2,718
	_______	_______

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	761	717
Corporation tax	15,720	15,433
Other creditors	148,075	157,417
	_______	_______
	164,556	173,567
	_______	_______

8. Related party transactions

The Directors provided loans to the company during the year charging interest at 10%. The balance due to them at the year end was £138,797 (29 June 2017 - £146,933). This balance is included in creditors falling due within one year. Dividends amounting to £57,000 (29 June 2017 - £57,000) were paid to the Directors .

9. Controlling party

The Company is controlled by the directors as they hold 100% of the share captial of the Company .