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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2017 |
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MIDSUMMER ADVISORY SERVICES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2017 |
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FOR |
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MIDSUMMER ADVISORY SERVICES LIMITED |
MIDSUMMER ADVISORY SERVICES LIMITED (REGISTERED NUMBER: 08270194) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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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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MIDSUMMER ADVISORY SERVICES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Rae House |
Dane Street |
Bishops Stortford |
Herts |
CM23 3BT |
MIDSUMMER ADVISORY SERVICES LIMITED (REGISTERED NUMBER: 08270194) |
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BALANCE SHEET |
31 OCTOBER 2017 |
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31.10.17 | 31.10.16 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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PROVISIONS FOR LIABILITIES |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges her responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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(b) |
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 Profit and Loss Account and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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MIDSUMMER ADVISORY SERVICES LIMITED (REGISTERED NUMBER: 08270194) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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1. | STATUTORY INFORMATION |
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Midsummer Advisory Services Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis which assumes the continued support of the |
company's director. If this assumption proves invalid the preparation of these financial statement on a going concern basis |
may prove to have been inappropriate, in which case adjustments would have to be made to reduce the balance sheet |
values of the assets to their recoverable amounts and to provide for further liabilities that might arise. |
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The director believes that it is appropriate to prepare the accounts on a going concern basis. |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Tangible fixed assets |
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Computer equipment | - |
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Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the |
instruments. |
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Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a |
financing transaction, where is it recognised at the present value of the future payments discounted at a market rate of |
interest for a similar debt instrument. |
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Debt instruments are subsequently measured at amortised cost. |
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Other financial instruments 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. 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. |
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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. |
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MIDSUMMER ADVISORY SERVICES LIMITED (REGISTERED NUMBER: 08270194) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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3. | ACCOUNTING POLICIES - continued |
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. |
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Deferred tax |
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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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 November 2016 |
and 31 October 2017 |
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DEPRECIATION |
At 1 November 2016 |
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Charge for year |
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At 31 October 2017 |
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NET BOOK VALUE |
At 31 October 2017 |
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At 31 October 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.17 | 31.10.16 |
£ | £ |
Trade debtors |
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MIDSUMMER ADVISORY SERVICES LIMITED (REGISTERED NUMBER: 08270194) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.17 | 31.10.16 |
£ | £ |
Taxation and social security |
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Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.17 | 31.10.16 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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9. | FIRST YEAR ADOPTION |
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The transition to FRS 102 has been implemented by the company in respect of the prior financial periods with no significant |
impact on the comparative financial statement's results. Therefore no changes have been recognised in the comparative |
information of these financial statements as a result of the transition to FRS 102. |