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Unaudited Financial Statements for the Year Ended 31 March 2017 |
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Dick Bird Consulting Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2017 |
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for |
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Dick Bird Consulting Limited |
Dick Bird Consulting Limited (Registered number: SC338458) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Dick Bird Consulting Limited |
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Company Information |
for the Year Ended 31 March 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
46 High Street |
Banchory |
Aberdeenshire |
AB31 5SR |
Dick Bird Consulting Limited (Registered number: SC338458) |
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Statement of Financial Position |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 | ( |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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( |
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( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Dick Bird Consulting Limited (Registered number: SC338458) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Dick Bird Consulting Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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These financial statements for the year ended 31st March 2017 are the first financial statements that comply with |
FRS 102 Section 1A Small Entities. The date transition is 1st April 2015. An explanation of how transition to |
FRS 102 Section 1A has affected the reported financial position and financial performance is given in the notes |
below. |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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 with the Companies Act 2006. The financial statements have been prepared under the historical |
cost convention. |
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Revenue recognition |
Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable |
for goods supplied and services rendered, stated net of discounts and of Value Added Tax. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) less accumulate depreciation and accumulate |
impairment losses. |
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Depreciation is provided at the following annual rates: |
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Computer Equipment - 33% Straight Line |
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Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and |
directors' loan. |
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Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the |
undiscounted mount of cash or other consideration expected to be paid or received. |
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Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective |
evidence or impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit |
and loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Dick Bird Consulting Limited (Registered number: SC338458) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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3. | ACCOUNTING POLICIES - continued |
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. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company pays contributions to as third party pension provider on behalf of the directors. Contributions |
payable are charged to profit or loss in the period to which they relate. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
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AMORTISATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Dick Bird Consulting Limited (Registered number: SC338458) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2016 |
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Disposals | ( |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 | ( |
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At 31 March 2016 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2017 and |
31 March 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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( |
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Dick Bird Consulting Limited (Registered number: SC338458) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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10. | RELATED PARTY DISCLOSURES |
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11. | FIRST YEAR ADOPTION |
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The company has recognised adjustments on transition to FRS102 Section 1A from the date of transition, being |
1 April 2015. |
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The company has a franchise fee acquired on incoporation in 2008 with a cost of £8,783. The fee was |
capitalised and never amortised under previous GAAP. FRS102 Section 1A prohibits the amortisation of an |
intangible asset over a period exceeding 10 years. Accordingly, an adjustment was made on transition to write |
off the franchise cost over the remaining period to March 2018, resulting in an additional amortisation charge of |
£7,905 in each of 2016 and £878 in 2017. |