Registration number:
Collaborative Consultancy Limited
for the Period from 1 December 2016 to 31 January 2018
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT
Collaborative Consultancy Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Collaborative Consultancy Limited
Company Information
Director |
Mrs L A Lawton |
Registered office |
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Accountants |
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Page 1 |
Collaborative Consultancy Limited
(Registration number: 08312793)
Balance Sheet as at 31 January 2018
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2018 |
2016 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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Collaborative Consultancy Limited
(Registration number: 08312793)
Balance Sheet as at 31 January 2018
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mrs L A Lawton
Director
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Collaborative Consultancy Limited
Notes to the Financial Statements for the Period from 1 December 2016 to 31 January 2018
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
Fully amortised |
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Collaborative Consultancy Limited
Notes to the Financial Statements for the Period from 1 December 2016 to 31 January 2018
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Collaborative Consultancy Limited
Notes to the Financial Statements for the Period from 1 December 2016 to 31 January 2018
Defined benefit pension obligation
Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.
The liability recognised in the Balance Sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.
Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 December 2016 |
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At 31 January 2018 |
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Depreciation |
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At 1 December 2016 |
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At 31 January 2018 |
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Carrying amount |
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At 31 January 2018 |
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Debtors |
Page 6 |
Collaborative Consultancy Limited
Notes to the Financial Statements for the Period from 1 December 2016 to 31 January 2018
2018 |
2016 |
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Trade debtors |
- |
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Prepayments |
- |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2018 |
2016 |
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Due within one year |
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Trade creditors |
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- |
Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2016 |
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No. |
£ |
No. |
£ |
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10 |
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10 |
Page 7 |
Collaborative Consultancy Limited
Notes to the Financial Statements for the Period from 1 December 2016 to 31 January 2018
Related party transactions |
Transactions with directors |
2018 |
At 1 December 2016 |
Advances to directors |
Repayments by director |
At 31 January 2018 |
Mrs L A Lawton |
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Director's loan account |
1,054 |
( |
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2016 |
At 1 December 2015 |
Advances to directors |
Repayments by director |
At 30 November 2016 |
Mrs L A Lawton |
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Director's loan account |
(8,995) |
( |
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Transition to FRS 102 |
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
No transitional adjustment were required in equity or profit or loss for the current or prior year.
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