REGISTERED NUMBER: 07715931 (England and Wales)

Financial Statements

for the Year Ended 31 July 2017

for

Setfords Consultants Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D C Setford

REGISTERED OFFICE:

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

REGISTERED NUMBER:

07715931 (England and Wales)

ACCOUNTANTS:

Barnbrook Sinclair

Chartered Accountants

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Tangible assets

5

204

365

CURRENT ASSETS

Debtors

6

70,504

32,911

Cash at bank and in hand

2,399

15,101

72,903

48,012

CREDITORS

Amounts falling due within one year

7

(62,624

)

(36,213

)

NET CURRENT ASSETS

10,279

11,799

TOTAL ASSETS LESS CURRENT LIABILITIES

10,483

12,164

CREDITORS

Amounts falling due after more than one year

8

(8,163

)

(11,323

)

NET ASSETS

2,320

841

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,220

741

SHAREHOLDERS' FUNDS

2,320

841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 21 December 2017 and were signed by:

D C Setford - Director

1.	STATUTORY INFORMATION

Setfords Consultants Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 July 2017 are the first that are prepared in accordance with FRS

102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 August 2015.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 August 2016

and 31 July 2017

208

1,129

1,337

Depreciation

At 1 August 2016

120

852

972

Charge for year

22

139

161

At 31 July 2017

142

991

1,133

Net book value

At 31 July 2017

66

138

204

At 31 July 2016

88

277

365

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/17

31/7/16

£

£

Trade debtors

60,804

8,672

Other debtors

9,700

24,239

70,504

32,911

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/17

31/7/16

£

£

Bank loans and overdrafts

-

412

Trade creditors

1,750

-

Taxation and social security

41,699

22,384

Other creditors

19,175

13,417

62,624

36,213

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/7/17

31/7/16

£

£

Other creditors

8,163

11,323

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year monies were advanced to Mr D C Setford and his wife. Interest was charged by the company at

3% until April 2017, and 2.5% thereafter and amounted to £256 for the year. All monies were repaid by the year

end and as such there was no balance owed to the company at the year end.