Privilege Consulting Limited - Period Ending 2014-09-30

Registration number: 06523752

Privilege Consulting Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2014
 

Privilege Consulting Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Privilege Consulting Limited
(Registration number: 06523752)
Abbreviated Balance Sheet at 30 September 2014

		Note			2014 £			2013 £
Current assets
Debtors					25,300			9,622
Cash at bank and in hand					11,281			55,824
					36,581			65,446
Creditors: Amounts falling due within one year					(31,926)			(36,576)
Net assets					4,655			28,870
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					4,653			28,868
Shareholders' funds					4,655			28,870

For the year ending 30 September 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 16 January 2015 and signed on its behalf by:

.........................................
Mr E A Nunn
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Privilege Consulting Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover is recognised when the company obtains the right to consideration.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	33.3% on cost

Hire purchase and leasing

Assets held for use in operating leases are included as a separate category in fixed assets at cost and depreciated over their useful life. Rental income from operating leases is recognised on a straight line basis over the term of the lease.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2013		2,008			2,008
At 30 September 2014		2,008			2,008
Depreciation
At 1 October 2013		2,008			2,008
At 30 September 2014		2,008			2,008
Net book value
At 30 September 2014		-			-
At 30 September 2013		-			-

Page 2

Privilege Consulting Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 3