Ardent Credit Services Limited - Period Ending 2014-06-30

Registration number: 04691960

Ardent Credit Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

McParland Williams Limited
Accountants and Tax Practitioners
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

Ardent Credit Services Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Ardent Credit Services Limited
(Registration number: 04691960)
Abbreviated Balance Sheet at 30 June 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					16,500			18,000
Tangible fixed assets					60,152			62,762
					76,652			80,762
Current assets
Debtors					239,842			235,296
Cash at bank and in hand					609,658			467,719
					849,500			703,015
Creditors: Amounts falling due within one year					(494,712)			(501,445)
Net current assets					354,788			201,570
Total assets less current liabilities					431,440			282,332
Provisions for liabilities					(12,345)			(12,345)
Net assets					419,095			269,987
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					418,995			269,887
Shareholders' funds					419,095			269,987

For the year ending 30 June 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 director acknowledges his 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 director on 12 March 2015

.........................................
Mr Stephen Frederick Murray
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Ardent Credit Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 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).

Changes in accounting policy

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	straight line over 20 years

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
Leasehold properties	straight line over 20 years
Fixtures, fittings and equipment	15% straight line
Office equipment	33% straight line
Motor vehicles	25% reducing balance

Deferred tax

Page 2

Ardent Credit Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2013		30,000			231,666			261,666
Additions		-			38,834			38,834
At 30 June 2014		30,000			270,500			300,500
Depreciation
At 1 July 2013		12,000			168,904			180,904
Charge for the year		1,500			41,444			42,944
At 30 June 2014		13,500			210,348			223,848
Net book value
At 30 June 2014		16,500			60,152			76,652
At 30 June 2013		18,000			62,762			80,762

Page 3

Ardent Credit Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

4	Related party transactions

Director's advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr Stephen Frederick Murray
Loan	-	9,507	9,507	-

5

Control

The company is controlled by the director, Mr S F Murray. He and his wife, Mrs J Murray, hold 100% of the issued share capital.

Page 4