ARDOYNE CONSULTANTS LIMITED
SC333726
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED
30 SEPTEMBER 2014
30 September 2014
MESTON REID & CO.
CHARTERED ACCOUNTANTS
12 CARDEN PLACE
ABERDEEN
AB10 1UR
ARDOYNE CONSULTANTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ARDOYNE CONSULTANTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2014
30 September 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
8,598
10,420
Current assets
Debtors
81,616
53,617
Cash at bank and in hand
2,802
23,052
84,418
76,669
Creditors: amounts falling due within one year
(31,907)
(44,479)
Net current assets
52,511
32,190
Total assets less current liabilities
61,109
42,610
Provisions for liabilities
(1,054)
(1,272)
60,055
41,338
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
60,054
41,337
Shareholders' funds
60,055
41,338
For the financial year ended 30 September 2014 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 his 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 27 June 2015
Robert Lyons
Director
Company Registration No. SC333726
ARDOYNE CONSULTANTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention 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 management consultancy services, fees and rechargeable expenses net of VAT.
Revenue is recognised when the services have been provided and all obligations to the customer, under the agreement, have been fulfilled.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
33% straight line
Fixtures, fittings & equipment
10% straight line
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.
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2013
24,411
Additions
1,408
Disposals
(1,109)
At 30 September 2014
24,710
Depreciation
At 1 October 2013
13,991
On disposals
(1,109)
Charge for the year
3,230
At 30 September 2014
16,112
Net book value
At 30 September 2014
8,598
At 30 September 2013
10,420
ARDOYNE CONSULTANTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2014
- 3 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1
4
Ultimate parent company
The ultimate parent company is Ardoyne Investments Limited, a company registered in Scotland.
5
Related party relationships and transactions
Transactions with directors
At 30 September 2014, £64,000 (2013 - £40,000) was due from Robert Lyons, director, to Ardoyne Consultants Limited. The maximum balance outstanding during the year was £75,000. The loan is unsecured, interest free and repayable on demand.