Prosperity Ivy League Globe Works Consultancy Ltd
Unaudited Financial Statements
For Filing with Registrar
For the period ended 30 June 2017
Company Registration No. 10244598 (England and Wales)
Prosperity Ivy League Globe Works Consultancy Ltd
Company Information
Directors
E Fowkes
(Appointed 22 June 2016)
G Barry
(Appointed 22 June 2016)
F Macdonald
(Appointed 22 June 2016)
Company number
10244598
Registered office
Devonshire House
60 Goswell Road
London
EC1M 7AD
Accountants
Kingston Smith LLP
Devonshire House
60 Goswell Road
London
EC1M 7AD
Business address
19 Gloucester Place Mews
London
W1U 8BF
Prosperity Ivy League Globe Works Consultancy Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Prosperity Ivy League Globe Works Consultancy Ltd
Balance Sheet
As at 30 June 2017
Page 1
2017
Notes
£
£
Current assets
Debtors
2
100
Net current assets
100
Capital and reserves
Called up share capital
3
100
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 30 June 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act 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 period 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 by the board of directors and authorised for issue on 1 March 2018 and are signed on its behalf by:
G Barry
Director
Company Registration No. 10244598
Prosperity Ivy League Globe Works Consultancy Ltd
Notes to the Financial Statements
For the period ended 30 June 2017
Page 2
1
Accounting policies
Company information
Prosperity Ivy League Globe Works Consultancy Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Devonshire House, 60 Goswell Road, London, EC1M 7AD.
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 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 pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
These financial statements are presented for a period longer than one year and there is no comparative information as this is the first period of accounts since incorporation on 22 June 2016.
1.3
Profit and Loss Account
The company has not traded
since incorporation
. During
this time
the company received no income and incurred no expenditure and therefore no Profit and Loss Account is presented
in these financial statements.
1.4
Cash at bank and in hand
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.
1.5
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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method 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.
Financial assets classified as receivable within one year are not amortised.
Prosperity Ivy League Globe Works Consultancy Ltd
Notes to the Financial Statements (Continued)
For the period ended 30 June 2017
1
Accounting policies
(Continued)
Page 3
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Debtors
2017
Amounts falling due within one year:
£
Other debtors
100
3
Called up share capital
2017
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100