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Unaudited Financial Statements for the Year Ended 31 October 2017 |
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Straight Line Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 October 2017 |
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for |
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Straight Line Limited |
Straight Line Limited (Registered number: 09815611) |
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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 | 4 |
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Straight Line 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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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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181A Kenton Lane |
Harrow |
Middlesex |
HA3 0EY |
Straight Line Limited (Registered number: 09815611) |
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Balance Sheet |
31 October 2017 |
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31.10.17 | 31.10.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 7 |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of
the Companies Act 2006 and |
(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. |
Straight Line Limited (Registered number: 09815611) |
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Balance Sheet - continued |
31 October 2017 |
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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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Straight Line Limited (Registered number: 09815611) |
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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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Straight Line Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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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. |
Straight Line Limited (Registered number: 09815611) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction |
price, unless the arrangement constitutes a financing transaction, where the transaction is |
measured at the present value of the future receipts discounted at a market rate of interest. |
Such assets are subsequently carried at amortised cost using the effective interest method, less |
any impairment. |
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Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial |
institutions, and other short-term highly liquid investments that mature in no more than three |
months from the date of acquisition and that are readily convertible to known amounts of cash |
with insignificant risk of change in value. |
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Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans |
from related parties, are initially recognised at transaction price, unless the arrangement |
constitutes a financing transaction where the debt instrument is measured at the present value |
of the future payments discounted at a market rate of interest. Such instruments are |
subsequently carried at amortised cost using the effective interest method, less any impairment. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
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At 31 October 2017 |
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NET BOOK VALUE |
At 31 October 2017 |
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Straight Line Limited (Registered number: 09815611) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2017 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.17 | 31.10.16 |
£ | £ |
Tax |
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Social security and other taxes |
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Directors' current accounts | 1,283 | - |
Accrued expenses |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.10.17 | 31.10.16 |
£ | £ |
Finance leases |
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7. | RESERVES |
Retained |
earnings |
£ |
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Profit for the year |
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Dividends | ( |
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At 31 October 2017 |
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8. | FIRST YEAR ADOPTION |
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The Company has transitioned to FRS 102 from previously being prepared under the historical |
cost convention and in accordance with the Financial Reporting Standards for Smaller Entities |
(effective January 2015) as at 1st January 2015. |
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Reconciliation of equity |
No transitional adjustments were required. |
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Reconciliation of profit or loss for the year |
No transitional adjustments were required. |