Ramsay McMichael Consulting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC246396 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2020

for

Ramsay McMichael Consulting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Ramsay

S McMichael

SECRETARY:

G Ramsay

REGISTERED OFFICE:

The Connect Building

59 Bath Street

Glasgow

G2 2DH

REGISTERED NUMBER:

SC246396 (Scotland)

ACCOUNTANTS:

The Kelvin Partnership Ltd

Chartered Accountants

The Cooper Building

505 Great Western Road

Glasgow

G12 8HN

FIXED ASSETS

Tangible assets

4

-

1,497

CURRENT ASSETS

Stocks

18,946

16,430

Debtors

5

156,306

183,068

Cash at bank

102,837

41,203

278,089

240,701

CREDITORS

Amounts falling due within one year

6

267,189

225,258

NET CURRENT ASSETS

10,900

15,443

TOTAL ASSETS LESS CURRENT LIABILITIES

10,900

16,940

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

10,800

16,840

SHAREHOLDERS' FUNDS

10,900

16,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 April 2021 and were signed on its behalf by:

S McMichael - Director

1.	STATUTORY INFORMATION

Ramsay McMichael Consulting Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is the amount receivable for the provision of goods and services falling within the company's ordinary activities, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2019 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2019

and 30 April 2020

26,045

10,033

36,078

DEPRECIATION

At 1 May 2019

25,312

9,269

34,581

Charge for year

733

764

1,497

At 30 April 2020

26,045

10,033

36,078

NET BOOK VALUE

At 30 April 2020

-

-

-

At 30 April 2019

733

764

1,497

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

146,098

172,860

Amounts owed by group undertakings

10,208

10,208

156,306

183,068

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans and overdrafts

90,000

74,553

Trade creditors

15,180

14,101

Taxation and social security

127,878

104,107

Other creditors

34,131

32,497

267,189

225,258

7.	RELATED PARTY DISCLOSURES