Decision Evaluation Limited
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Registered number: |
00900081
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Directors' Report |
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The directors present their report and accounts for the year ended 30 April 2015. |
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Principal activities |
The company's principal activity during the year continued to be that of information technology consultancy.
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Review of business |
The 2015 finanacial year has had unusually high costs and unusually low revenue. With control of fixed costs and no debt to service, the company ends the year with potential, but showing the expected trading loss. |
Our main fee-earner, Martin Tate, has taken much of the year away from direct revenue-generating work. First, he was involved until February 2015 with our internal project to move the office to Hertfordshire from Lancashire. Second, he was writing a business book - this spanned the entire financial year - with publication and promotion until April 2015. Third, the move in February disrupted our business network - the major source of work. |
The book deal was with our heavily preferred choice of publisher - the Learning & Development subsidiary of the British Computer Society. As the largest and most prestigious professional body for IT, this is emphatically the best brand position for DecE and a highly effective way to reach our ideal audience. The book documents our proprietary method for selecting software products: 'Off-The-Shelf IT Solutions: A practitioner's guide to selection and procurement' launched in April 2015. While book royalties are typically very low from non-fiction works, the heightened profile and increased credibility should yield downstream benefits with better utilisation, higher day rates, reduced cost of sale, or all three. |
The other major internal project was to move DecE to Hertfordshire, closer to the centres of corporate decision-making, with better opportunities for networking, and closer to the demand for large IT projects. Extensive networking will raise Decision Evaluation's profile in Hertfordshire and London and establish the company locally. This will affect trading profits into the next company year but is expected to stabilise as our new client base is established in the area. |
Prospects are good, partly because the company has always avoided debt and owns the assets it needs. We look forward to stronger revenues from networking with a highly credible offering, impressive case studies and high ratios of client savings compared to our fee. |
Martin Tate, Managing Director |
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Directors |
The following persons served as directors during the year: |
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Maria Tate
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Martin David Tate BA FBCS CITP
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Small company provisions |
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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This report was approved by the board on 19 January 2016 and signed by its order. |
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Maria Tate |
Director |
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Decision Evaluation Limited |
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Decision Evaluation Limited for the year ended 30 April 2015 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Decision Evaluation Limited for the year ended 30 April 2015 which comprise of the Profit and Loss Account, the Balance Sheet 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 in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
This report is made solely to the Board of Directors of Decision Evaluation Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Decision Evaluation Limited and state those matters that we have agreed to state to the Board of Directors of Decision Evaluation Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Decision Evaluation Limited and its Board of Directors as a body for our work or for this report. |
It is your duty to ensure that Decision Evaluation Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Decision Evaluation Limited. You consider that Decision Evaluation Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the accounts of Decision Evaluation Limited. 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 accounts. |
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Thomas David |
Chartered Accountants |
6/7, Castle Gate |
Castle Street |
Hertford |
HERTS |
SG14 1HD |
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Decision Evaluation Limited
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Balance Sheet |
as at 30 April 2015
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Notes |
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2015 |
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2014 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
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- |
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1,815 |
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Current assets |
Stocks |
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275 |
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275 |
Debtors |
4 |
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1,914 |
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5,642 |
Cash at bank and in hand |
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- |
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27,769 |
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2,189 |
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33,686 |
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Creditors: amounts falling due within one year |
5 |
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(6,829) |
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(1,408) |
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Net current (liabilities)/assets |
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(4,640) |
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32,278 |
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Net (liabilities)/assets |
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(4,640) |
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34,093 |
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Capital and reserves |
Called up share capital |
6 |
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1,050 |
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1,050 |
Profit and loss account |
7 |
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(5,690) |
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33,043 |
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Shareholders' funds |
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(4,640) |
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34,093 |
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
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Maria Tate |
Director |
Approved by the board on 19 January 2016
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Decision Evaluation Limited
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Notes to the Accounts |
for the year ended 30 April 2015
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
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Plant and machinery |
100% during the year
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Stocks |
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Stock is valued at the lower of cost and net realisable value. |
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2 |
Operating profit |
2015 |
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2014 |
£ |
£ |
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This is stated after charging: |
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Depreciation of owned fixed assets |
7,615 |
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776 |
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Directors' remuneration |
13,260 |
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15,348 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 May 2014 |
100,560 |
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Additions |
5,800 |
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At 30 April 2015 |
106,360 |
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Depreciation |
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At 1 May 2014 |
98,745 |
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Charge for the year |
7,615 |
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At 30 April 2015 |
106,360 |
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Net book value |
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At 30 April 2015 |
- |
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At 30 April 2014 |
1,815 |
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4 |
Debtors |
2015 |
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2014 |
£ |
£ |
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Other debtors |
1,914 |
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5,642 |
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5 |
Creditors: amounts falling due within one year |
2015 |
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2014 |
£ |
£ |
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Bank loans and overdrafts |
4,464 |
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- |
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Trade creditors |
110 |
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321 |
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Other creditors |
2,255 |
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1,087 |
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6,829 |
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1,408 |
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6 |
Share capital |
Nominal |
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2015 |
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2015 |
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2014 |
value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares
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15,000 |
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- |
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1,050 |
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1,050 |
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There is unpaid share capital representing a liability on shareholders of £13,950. |
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7 |
Profit and loss account |
2015 |
£ |
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At 1 May 2014 |
33,043 |
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Loss for the year |
(38,733) |
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At 30 April 2015 |
(5,690) |
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8 |
Going Concern |
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As at 30 April 2015 the company balance sheet reports net liabilities of £4,640. The directors confirm that they will continue to support the company until it reaches a solvent position. |