Company Registration No. 04727523 (England and Wales)
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
PAGES FOR FILING WITH REGISTRAR
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
BALANCE SHEET
AS AT
30 APRIL 2018
30 April 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Goodwill
3
18,750
22,500
Tangible assets
4
35,817
40,971
54,567
63,471
Current assets
Debtors
5
104,376
189,554
Cash at bank and in hand
9
29
104,385
189,583
Creditors: amounts falling due within one year
6
(162,882)
(180,522)
Net current (liabilities)/assets
(58,497)
9,061
Total assets less current liabilities
(3,930)
72,532
Creditors: amounts falling due after more than one year
7
(8,534)
(8,339)
Provisions for liabilities
(6,353)
(6,126)
Net (liabilities)/assets
(18,817)
58,067
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
(18,818)
58,066
Total equity
(18,817)
58,067
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2018
30 April 2018
- 2 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 31 January 2019
S E Illman
Director
Company Registration No. 04727523
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2018
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 May 2016
1
32,796
32,797
Year ended 30 April 2017:
Profit and total comprehensive income for the year
-
27,270
27,270
Dividends
-
(2,000)
(2,000)
Balance at 30 April 2017
1
58,066
58,067
Year ended 30 April 2018:
Loss and total comprehensive income for the year
-
(76,884)
(76,884)
Balance at 30 April 2018
1
(18,818)
(18,817)
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
- 4 -
1
Accounting policies
Company information
Illman Young Landscape Design Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Warehouse, Kingshold Building 4, Malmesbury Road, Cheltenham, GL51 9PL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts invoiced during the year, exclusive of Value Added Tax.
1.3
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
Goodwill - To be written off over 20 years
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
20% Straight line
Fixtures, fittings & equipment
20% Reducing balance
Computer equipment
20% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
1
Accounting policies
(Continued)
- 5 -
1.6
Cash and cash equivalents
Cash at bank and in hand
are basic financial assets
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. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
1
Accounting policies
(Continued)
- 6 -
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 8 (2017 - 9).
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2017 and 30 April 2018
75,000
Amortisation and impairment
At 1 May 2017
52,500
Amortisation charged for the year
3,750
At 30 April 2018
56,250
Carrying amount
At 30 April 2018
18,750
At 30 April 2017
22,500
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2017
24,689
130,981
155,670
Additions
-
6,136
6,136
Disposals
(24,689)
-
(24,689)
At 30 April 2018
-
137,117
137,117
Depreciation and impairment
At 1 May 2017
21,201
93,497
114,698
Depreciation charged in the year
3,487
7,803
11,290
Eliminated in respect of disposals
(24,688)
-
(24,688)
At 30 April 2018
-
101,300
101,300
Carrying amount
At 30 April 2018
-
35,817
35,817
At 30 April 2017
3,487
37,484
40,971
5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
59,312
105,682
Other debtors
5,900
-
Prepayments and accrued income
39,164
83,872
104,376
189,554
6
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
49,380
49,283
Obligations under finance leases
6,971
4,359
Trade creditors
22,109
26,219
Corporation tax
-
7,899
Other taxation and social security
43,371
48,110
Other creditors
38,186
41,029
Accruals and deferred income
2,865
3,623
162,882
180,522
ILLMAN YOUNG LANDSCAPE DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
- 8 -
7
Creditors: amounts falling due after more than one year
2018
2017
£
£
Obligations under finance leases
8,534
8,339
8
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary shares of £1 each
1
1
1
1
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2018
2017
£
£
79,250
24,120
10
Related party transactions
At the end, the company owed the director £8,160 (2017: £20,660). No interest has been charged on this amount and there is no fixed date for repayment, other than it is repaybale on demand.
2018-04-30
2017-05-01
false
CCH Software
CCH Accounts Production 2018.300
No description of principal activity
S E Illman
M J Edgington
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