Company Registration No. 05107803 (England and Wales)
ISLIP CONSULTING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
ISLIP CONSULTING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ISLIP CONSULTING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
230
308
Investments
2
458,280
405,000
458,510
405,308
Current assets
Debtors
15,500
31,000
Cash at bank and in hand
34,560
104,790
50,060
135,790
Creditors: amounts falling due within one year
(5,883)
(17,548)
Net current assets
44,177
118,242
Total assets less current liabilities
502,687
523,550
Provisions for liabilities
(46)
(62)
502,641
523,488
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
502,640
523,487
Shareholders' funds
502,641
523,488
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 9 October 2016
T Cross Brown
Director
Company Registration No. 05107803
ISLIP CONSULTING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 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 January 2015).
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 consultancy services.
consultancy
services.
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:
Fixtures, fittings & equipment
25% Reducing balance
1.5
Investments
The director has decided that alongside it's trading activities the company will invest surplus funds in both listed and unlisted financial securities and managed funds. The
investments are stated at cost less provision for diminution in value.
Market value as advised by the fund managers is disclosed. The investments are presented as fixed assets as there is currently no intention to dispose of them. Transaction costs are expensed as incurred. Realised changes and unrealised losses will be recognised through the profit and loss account.
1.6
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.
ISLIP CONSULTING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 May 2015
1,797
405,000
406,797
Additions
-
53,280
53,280
At 30 April 2016
1,797
458,280
460,077
Depreciation
At 1 May 2015
1,489
-
1,489
Charge for the year
78
-
78
At 30 April 2016
1,567
-
1,567
Net book value
At 30 April 2016
230
458,280
458,510
At 30 April 2015
308
405,000
405,308
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary shares of £1 each
1
1