Company Registration No. SC589681 (Scotland)
Dion Consulting Ltd
Annual report and unaudited financial statements
for the period ended 31 March 2019
Pages for filing with registrar
Dion Consulting Ltd
Chartered Accountants' Report to the board of directors on the preparation of the
unaudited statutory financial statements of Dion Consulting Ltd
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dion Consulting Ltd for the period ended 31 March 2019 which comprise, the Statement Of Financial Position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants of Scotland we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017.
This report is made solely to the Board of Directors of Dion Consulting Ltd, as a body, in accordance with the terms of our engagement letter dated 26 July 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Dion Consulting Ltd and state those matters that we have agreed to state to the Board of Directors of Dion Consulting Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dion Consulting Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Dion Consulting Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit of Dion Consulting Ltd. You consider that Dion Consulting Ltd is exempt from the statutory audit
requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Dion Consulting Ltd. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
James Milne
Chartered Accountants
Rosewood
Raemoir Road
Banchory
AB31 4ET
2 September 2019
Dion Consulting Ltd
Statement of financial position
at 31 March 2019
2
2019
Notes
£
£
Fixed assets
Tangible assets
2
770
Current assets
Debtors
12,125
Cash at bank and in hand
18,384
30,509
Creditors: amounts falling due within one year
(13,328)
Net current assets
17,181
Total assets less current liabilities
17,951
Capital and reserves
Called up share capital
100
Profit and loss reserves
17,851
Total equity
17,951
In accordance with section 444 of the Companies Act 2006 all
of
the members of the company have consented to the
preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (S.I. 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial period ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
Dion Consulting Ltd
Statement of financial position (continued)
at 31 March 2019
3
The financial statements were approved by the board of directors and authorised for issue on 2 September 2019 and are signed on its behalf by:
Trudy V Dymock
Director
Company Registration No. SC589681
Dion Consulting Ltd
Notes to the financial statements
for the period ended 31 March 2019
4
1
Accounting policies
Company information
Dion Consulting Ltd is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
Rosewood, Raemoir Road, Banchory, Kincardineshire, AB31 4ET.
1.1
Accounting convention
The financial statements are prepared in
sterling
, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents revenue recognised in the accounts. Revenue is recognised when the business fulfils its contractual obligations to customers by supplying goods and services and excludes value added tax. Where services are performed gradually over time, revenue is recognised as activity progresses by reference to the value of work performed.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Dion Consulting Ltd
Notes to the financial statements (continued)
for the period ended 31 March 2019
5
2
Tangible fixed assets
Total
£
Cost
At 23 February 2018
-
Additions
958
At 31 March 2019
958
Depreciation and impairment
At 23 February 2018
-
Depreciation charged in the period
188
At 31 March 2019
188
Carrying amount
At 31 March 2019
770
3
Directors' transactions
Description
Opening balance
Amounts advanced
Amounts repaid
Closing credit balance
£
£
£
£
Trudy V Dymock
-
(15,157)
15,250
93
-
(15,157)
15,250
93
4
Controlling party
Mrs Trudy Dymock, director, controls the company by virtue of her 76% holding of the issued share capital,