Company Registration No. 03370467 (England and Wales)
CHAND CONSULTANCY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
CHAND CONSULTANCY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CHAND CONSULTANCY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
380,000
380,000
Current assets
Debtors
1,213
346
Cash at bank and in hand
32,032
22,521
33,245
22,867
Creditors: amounts falling due within one year
(81,789)
(50,310)
Net current liabilities
(48,544)
(27,443)
Total assets less current liabilities
331,456
352,557
Creditors: amounts falling due after more than one year
3
(300,744)
(300,744)
30,712
51,813
Capital and reserves
Called up share capital
4
10
10
Revaluation reserve
16,356
16,356
Profit and loss account
14,346
35,447
Shareholders' funds
30,712
51,813
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 30 December 2015
Mrs C Doshi
Director
Company Registration No. 03370467
CHAND CONSULTANCY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% Written down value.
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
CHAND CONSULTANCY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2014 & at 31 March 2015
383,771
Depreciation
At 1 April 2014 & at 31 March 2015
3,771
Net book value
At 31 March 2015
380,000
At 31 March 2014
380,000
3
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total not repayable by instalments and due in more than five years
300,744
300,744
The aggregate amount of creditors for which security has been given amounted to £300,744 (2014 - £
300,744
).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
10 Ordinary shares of £1 each
10
10