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Unaudited Financial Statements for the Year Ended 31 January 2017 |
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Rosemount Consulting Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 January 2017 |
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for |
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Rosemount Consulting Limited |
Rosemount Consulting Limited (Registered number: SC439642) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2017 |
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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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Rosemount Consulting Limited |
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Company Information |
for the Year Ended 31 January 2017 |
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DIRECTORS: |
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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 |
Rosemount Consulting Limited (Registered number: SC439642) |
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Statement of Financial Position |
31 January 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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 Board of Directors on
by: |
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Rosemount Consulting Limited (Registered number: SC439642) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2017 |
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1. | STATUTORY INFORMATION |
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Rosemount 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 31 January 2017 are the first financial statements that comply with |
FRS 102 Section 1A Small Entities. The date of transition is 1 February 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 the Companies Act 2016. The financial statements have been prepared under the historical cost |
convention. |
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Revenue recognition |
Turnover represents revenue earned under a variety of contracts to provide professional services and advice to |
third parties. |
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Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in |
exchange for its performance under those contracts. |
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It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, |
including recoverable expenses and disbursements, excluding Value Added Tax but including overseas |
Withholding Tax. |
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For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This |
assessment takes into account the nature of the assignment, its stage of completion and the relevant contract |
terms. |
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Unbilled revenue is included in debtors. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation or accumulated |
impairment losses. |
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Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and |
directors' loans. |
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Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the |
undiscounted amount 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 of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit |
and loss. |
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Rosemount Consulting Limited (Registered number: SC439642) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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3. | ACCOUNTING POLICIES - continued |
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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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 operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme 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. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 February 2016 |
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Additions |
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At 31 January 2017 |
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DEPRECIATION |
At 1 February 2016 |
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Charge for year |
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At 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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Rosemount Consulting Limited (Registered number: SC439642) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Taxation and social security |
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Other creditors |
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8. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £51,800 (2016 - £42,214) were paid to the directors. |
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9. | FIRST YEAR ADOPTION |
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The company has not recognised any adjustments on transition to FRS 102 Section 1A from the date of |
transition being 1 February 2015. |