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No description of principal activity
2016-01-01
Sage Accounts Production Advanced 2017 - FRS
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2016-12-31
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05126148
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05126148
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05126148
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05126148
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2015-12-31
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05126148
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05126148
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2016-12-31
Statement of Consent to Prepare Abridged Financial Statements
|
|
All of the members of EASTGATE COMPLEMENTARY THERAPIES CENTRE LIMITED have consented to the preparation of the statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
05126148
EASTGATE COMPLEMENTARY THERAPIES CENTRE LIMITED
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|
Unaudited Abridged Financial Statements
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|
J.H. TREASE & CO.
Chartered Accountants
26 Wilford Lane
West Bridgford
Nottingham
NG2 7QX
EASTGATE COMPLEMENTARY THERAPIES CENTRE LIMITED
|
|
Abridged Financial Statements
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|
Year ended 31 December 2016
Chartered accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements
|
1
|
|
|
Abridged statement of financial position
|
2 to 3
|
|
|
Notes to the abridged financial statements
|
4 to 6
|
|
|
EASTGATE COMPLEMENTARY THERAPIES CENTRE LIMITED
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
EASTGATE COMPLEMENTARY THERAPIES CENTRE LIMITED
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|
Year ended 31 December 2016
As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 31 December 2016, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
J.H. TREASE & CO.
Chartered Accountants
26 Wilford Lane
West Bridgford
Nottingham
NG2 7QX
13 June 2017
EASTGATE COMPLEMENTARY THERAPIES CENTRE LIMITED
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|
Abridged Statement of Financial Position
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|
31 December 2016
Fixed assets
Current assets
Debtors
|
492
|
|
435
|
Cash at bank and in hand
|
278
|
|
–
|
|
----
|
|
----
|
|
770
|
|
435
|
|
|
|
|
Creditors: amounts falling due within one year
|
2,195
|
|
1,895
|
|
-------
|
|
-------
|
Net current liabilities
|
|
1,425
|
1,460
|
|
|
-------
|
-------
|
Total assets less current liabilities
|
|
(
1,011)
|
(
1,402)
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
82
|
12
|
|
|
-------
|
-------
|
Net liabilities
|
|
(
1,093)
|
(
1,414)
|
|
|
-------
|
-------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
2
|
2
|
Profit and loss account
|
|
(
1,095)
|
(
1,416)
|
|
|
-------
|
-------
|
Members deficit
|
|
(
1,093)
|
(
1,414)
|
|
|
-------
|
-------
|
|
|
|
|
These abridged 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 31 December 2016 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 abridged 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 abridged financial statements
.
EASTGATE COMPLEMENTARY THERAPIES CENTRE LIMITED
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|
Abridged Statement of Financial Position (continued)
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|
31 December 2016
These abridged financial statements were approved by the
board of directors
and authorised for issue on
13 June 2017
, and are signed on behalf of the board by:
L Mulvany
|
I Shahor
|
Director
|
Director
|
|
|
Company registration number:
05126148
EASTGATE COMPLEMENTARY THERAPIES CENTRE LIMITED
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|
Notes to the Abridged Financial Statements
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|
Year ended 31 December 2016
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Eastgate House, 19-27 Humberstone Road, Leicester, LE5 3GJ.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents rental income receivable in the year.
Corporation tax
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 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.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
|
Equipment
|
-
|
25% reducing balance
|
|
|
|
|
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 abridged 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.
Financial instruments
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 entity after deducting all of its financial liabilities.
4.
Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to 2 (2015: 2).
5.
Profit before taxation
Profit before taxation is stated after charging:
|
2016
|
2015
|
|
£
|
£
|
Depreciation of tangible assets
|
137
|
19
|
|
----
|
----
|
|
|
|
6.
Tangible assets
|
£
|
Cost
|
|
At 1 January 2016
|
522
|
Additions
|
493
|
|
-------
|
At 31 December 2016
|
1,015
|
|
-------
|
Depreciation
|
|
At 1 January 2016
|
464
|
Charge for the year
|
137
|
|
-------
|
At 31 December 2016
|
601
|
|
-------
|
Carrying amount
|
|
At 31 December 2016
|
414
|
|
-------
|
At 31 December 2015
|
58
|
|
-------
|
|
|
7.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
2016
|
|
|
Balance brought forward
|
Advances/ (credits) to the directors
|
Balance outstanding
|
|
|
£
|
£
|
£
|
|
L Mulvany
|
(
1,091)
|
(
23)
|
(
1,114)
|
|
|
-------
|
----
|
-------
|
|
|
|
|
|
|
2015
|
|
|
Balance brought forward
|
Advances/ (credits) to the directors
|
Balance outstanding
|
|
|
£
|
£
|
£
|
|
L Mulvany
|
(
952)
|
(
139)
|
(
1,091)
|
|
|
----
|
----
|
-------
|
|
|
|
|
|
8.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.