Caseware UK (AP4) 2014.0.91 2014.0.91 2016-12-312016-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2016-01-01 04988401 2016-01-01 2016-12-31 04988401 2015-01-01 2015-12-31 04988401 2016-12-31 04988401 2015-12-31 04988401 c:Director1 2016-01-01 2016-12-31 04988401 d:FurnitureFittings 2016-01-01 2016-12-31 04988401 d:OfficeEquipment 2016-01-01 2016-12-31 04988401 d:OtherPropertyPlantEquipment 2016-01-01 2016-12-31 04988401 d:OtherPropertyPlantEquipment 2016-12-31 04988401 d:OtherPropertyPlantEquipment 2015-12-31 04988401 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04988401 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 04988401 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 04988401 d:ShareCapital 2016-12-31 04988401 d:ShareCapital 2015-12-31 04988401 d:RetainedEarningsAccumulatedLosses 2016-12-31 04988401 d:RetainedEarningsAccumulatedLosses 2015-12-31 04988401 c:OrdinaryShareClass1 2016-01-01 2016-12-31 04988401 c:OrdinaryShareClass1 2016-12-31 04988401 c:FRS102 2016-01-01 2016-12-31 04988401 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 04988401 c:AbridgedAccounts 2016-01-01 2016-12-31 04988401 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number:  04988401
















CROSSWORDS LIMITED




FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016




















These financial statements have not been audited as the company is exempt under s477 of the Companies Act 2006 from the requirement to obtain an audit of its financial statements.











CROSSWORDS LIMITED
REGISTERED NUMBER:04988401

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2016

2016
2015
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,948
2,917

  
2,948
2,917

Current assets
  

Debtors
  
2,181
17,503

Cash at bank and in hand
  
270,746
193,891

  
272,927
211,394

Creditors: amounts falling due within one year
  
(38,477)
(42,481)

Net current assets
  
 
 
234,450
 
 
168,913

Total assets less current liabilities
  
237,398
171,830

Net assets
  
237,398
171,830


Capital and reserves
  

Called up share capital 
 5 
100
100

Profit and loss account
  
237,298
171,730

  
237,398
171,830


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




K Ware
Director

Date: 8 June 2017
The notes on pages 3 to 6 form part of these financial statements.
Page 1

CROSSWORDS LIMITED
REGISTERED NUMBER:04988401
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2016


Page 2

CROSSWORDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

1.


General information

Crosswords Limited is a private limited liability company, limited by shares, incorporated and registered in England within the United Kingdom.  The address of the registered office and the registered number are given in the company information page of these financial statements.

2. Accounting policies

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. .

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

Information on the impact of first-time adoption of FRS 102 is given in note 7.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
· the amount of revenue can be measured reliably;
· it is probable that the company will receive the consideration due under the contract;
· the stage of completion of the contract at the end of the reporting period can be measured reliably; and
· the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

CROSSWORDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

2. Accounting policies (continued)


2.3
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
straight line
Office equipment
-
25%
straight line
Other fixed assets
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

 
2.4

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.6

FINANCIAL INSTRUMENTS

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

 
2.7

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

CROSSWORDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

2. Accounting policies (continued)

 
2.8

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

 
2.9

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.10

TAXATION

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2  (2015:  2 ) .

Page 5

CROSSWORDS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

4.


Tangible fixed assets





Total

£



Cost or valuation


At 1 January 2016
112,233


Additions
1,932



At 31 December 2016

114,165



Depreciation


At 1 January 2016
109,316


Charge for the year on owned assets
1,901



At 31 December 2016

111,217



Net book value



At 31 December 2016
2,948



At 31 December 2015
2,917


5.


Share capital

2016
2015
£
£
SHARES CLASSIFIED AS EQUITY

ALLOTTED, CALLED UP AND FULLY PAID



100 Ordinary shares of £1 each
100
100


6.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund.


7.


First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
Page 6

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