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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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AMEDEO LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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FOR |
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AMEDEO LIMITED |
AMEDEO LIMITED (REGISTERED NUMBER: 04635582) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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AMEDEO LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
No. 3 Caroline Court |
13 Caroline Street |
St Paul's Square |
Birmingham |
B3 1TR |
AMEDEO LIMITED (REGISTERED NUMBER: 04635582) |
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BALANCE SHEET |
30 NOVEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 3 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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AMEDEO LIMITED (REGISTERED NUMBER: 04635582) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The director has confirmed his intention to continue supporting the company for the foreseeable future. |
Hence, the financial statements have been prepared under the going concern basis. |
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Significant judgements and estimates |
In the application of the company's accounting policies the director are required to make judgements, |
estimates and assumptions about the carrying amounts of assets and liabilities that are not readily |
apparent from other sources. The estimates and associated assumptions are based on historical |
experience and other factors that are considered to be relevant. Actual results may differ from these |
estimates. |
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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 |
effects only that period, or in the period of revision and future periods if the revision effects both current |
and future periods. |
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In preparing these financial statements, the director has made the following judgements: |
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The company reviews the carrying value of all assets for indications of impairment at each period. If |
indicators of impairment exist, the carrying value of the asset is subject to further testing to determine |
whether its carrying value exceeds its recoverable amount. This process will usually involve the |
estimation of future cash flows which are likely to be generated by the asset. |
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A provision is recognised when the company has a present legal or constructive obligation as a result |
of a past event for which it is probable that an outflow of resources will be required to settle the |
obligation and the amount can be reliably estimated. If the effect is material, provisions are determined |
by discounting the expected future cash flows at a rate that reflects the time value of money and the |
risk specific to the liability. |
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Whether a present obligation is probable or not requires judgement. The nature and type of risks for |
these provisions differ and management's judgement is applied regarding the nature and extent of |
obligations in deciding if an outflow of resources is probable or not. |
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The director does not believe there to be any significant estimates made in the preparation of these |
financial statements. |
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Financial instruments |
(i) Cash and cash equivalents |
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Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at |
call with banks, other short-term liquid investments with original maturities of three months or less, and |
bank overdrafts. |
AMEDEO LIMITED (REGISTERED NUMBER: 04635582) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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1. | ACCOUNTING POLICIES - continued |
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Financial instruments - continued |
(ii) Financial assets and liabilities |
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All financial assets and liabilities are recognised when the company becomes party to the contractual |
provisions of the instrument. |
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Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in |
the assets of the company after deducting all its liabilities. |
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All financial assets and liabilities are initially measured at transaction price (including transaction |
costs), except for those financial assets classified as at fair value through profit and loss, which are |
initially measured at fair value unless the arrangement constitutes a financing transaction. If an |
arrangement constitutes a financing transaction, the financial asset or liability is measured at the |
present value of the future payments discounted at a market rate of interest for a similar debt |
instrument. |
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Financial assets and liabilities are only offset at the balance sheet date when, and only when there |
exists a legally enforceable right to set off the recognised amounts and the company intends either to |
settle on a net basis, or to realise the asset and settle the liability simultaneously. |
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Debt instruments that have no stated interest rate and are classified as payable or receivable within |
one year are initially measured at an undiscounted amount of the cash or other consideration expected |
to be paid or received, net of impairment. Other debt instruments not meeting these conditions are |
measure at fair value through profit and loss. |
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Commitments to make or receive loans which meet the conditions mentioned above are measure at |
cost less impairment. |
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Financial assets are derecognised when and only when the contractual rights to the cash flows for the |
financial asset expire or are settled, when the company transfers to another party substantially all the |
risks and rewards of ownership of the financial asset, or the company, despite having retained some, |
but not all, significant risks and rewards of ownership, has transferred control of the asset to another |
party. |
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Financial liabilities are derecognised only when the obligation specified in the contract is discharged, |
cancelled or expires. |
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Current and deferred 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
AMEDEO LIMITED (REGISTERED NUMBER: 04635582) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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1. | ACCOUNTING POLICIES - continued |
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Current and deferred taxation - continued |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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3. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Other creditors |
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