Statement of Consent to Prepare Abridged Financial Statements
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All of the members of R & D Developments (Bicester) Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 January 2018 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
10353663
R & D Developments (Bicester) Limited
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Filleted Unaudited Abridged Financial Statements
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R & D Developments (Bicester) Limited
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Abridged Financial Statements
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Period from 31 August 2016 to 31 January 2018
Abridged statement of financial position
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1
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Statement of changes in equity
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2
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Notes to the abridged financial statements
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3
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R & D Developments (Bicester) Limited
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Abridged Statement of Financial Position
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31 January 2018
Current assets
Debtors
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73,276
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Cash at bank and in hand
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20,690
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93,966
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Creditors: amounts falling due within one year
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86,428
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Net current assets
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7,538
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Total assets less current liabilities
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7,538
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Net assets
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7,538
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-------
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Capital and reserves
Called up share capital
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100
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Profit and loss account
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7,438
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-------
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Members funds
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7,538
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-------
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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 abridged statement of comprehensive income has not been delivered.
For the period ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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These abridged financial statements were approved by the
board of directors
and authorised for issue on
5 April 2018
, and are signed on behalf of the board by:
Company registration number:
10353663
R & D Developments (Bicester) Limited
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Statement of Changes in Equity
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Period from 31 August 2016 to 31 January 2018
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Called up share capital
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Profit and loss account
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Total
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£
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£
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£
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At 31 August 2016
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–
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–
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–
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Profit for the period
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7,438
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7,438
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----
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Total comprehensive income for the period
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–
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7,438
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7,438
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Issue of shares
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100
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–
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100
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----
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Total investments by and distributions to owners
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100
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–
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100
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----
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-------
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At 31 January 2018
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100
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7,438
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7,538
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----
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R & D Developments (Bicester) Limited
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Notes to the Abridged Financial Statements
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Period from 31 August 2016 to 31 January 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3A Minton Place, Victoria Road, Bicester, Oxon, OX26 6QB, England.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
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 is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, 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. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 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.
4.
Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
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31 Jan 18
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Balance brought forward
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Advances/ (credits) to the director
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Amounts repaid
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Balance outstanding
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£
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£
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£
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£
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Mr R Oliver
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–
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10,000
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(
60,205)
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(
50,205)
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