N21 Consulting Limited - Limited company accounts 11.7

REGISTERED NUMBER: 07025343 (England and Wales)

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

FOR

N21 CONSULTING LIMITED

Page

Company Information

1

Report of the Director

2

Chartered Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTOR:

S R Yellapragada

REGISTERED OFFICE:

505 Pinner Road

Harrow

Middlesex

HA2 6EH

REGISTERED NUMBER:

07025343 (England and Wales)

ACCOUNTANTS:

Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

The director presents his report with the financial statements of the company for the year ended 30 September 2014.

DIRECTOR

S R Yellapragada held office during the whole of the period from 1 October 2013 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to

small companies.

ON BEHALF OF THE BOARD:

S R Yellapragada - Director

27 June 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of N21 Consulting Limited for the year ended 30 September 2014 which comprise the Profit and Loss Account,

the Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of N21 Consulting Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of N21 Consulting Limited and state those matters that we have agreed to state to the director of N21 Consulting Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that N21 Consulting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of N21 Consulting Limited. You consider that N21 Consulting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of N21 Consulting Limited. For this

reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you

have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

27 June 2015

TURNOVER

102,928

82,265

Administrative expenses

30,080

29,837

OPERATING PROFIT

2

72,848

52,428

Interest receivable and similar income

-

4

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

72,848

52,432

Tax on profit on ordinary activities

3

14,615

10,554

PROFIT FOR THE FINANCIAL YEAR

58,233

41,878

FIXED ASSETS

Tangible assets

5

454

681

CURRENT ASSETS

Cash at bank

70,054

54,351

CREDITORS

Amounts falling due within one year

6

32,547

45,304

NET CURRENT ASSETS

37,507

9,047

TOTAL ASSETS LESS CURRENT
LIABILITIES

37,961

9,728

CAPITAL AND RESERVES

Called up share capital

7

100

Profit and loss account

8

37,861

9,628

SHAREHOLDERS' FUNDS

37,961

9,728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 27 June 2015 and were signed by:

S R Yellapragada - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services in relation to software technical consultancy, excluding value

added tax.

Turnover is recognised when the company has right to consideration.

Tangible fixed assets

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

Computer equipment

-

33.33% on reducing balance

Deferred tax

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

sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

2014

2013

£

Depreciation - owned assets

227

340

Director's remuneration

7,830

7,614

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

2014

2013

£

Current tax:

UK corporation tax

14,615

10,554

Tax on profit on ordinary activities

14,615

10,554

4.

DIVIDENDS

2014

2013

£

Ordinary shares of £1 each

Interim

30,000

34,500

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 October 2013

and 30 September 2014

1,531

DEPRECIATION

At 1 October 2013

850

Charge for year

227

At 30 September 2014

1,077

NET BOOK VALUE

At 30 September 2014

454

At 30 September 2013

681

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Tax

14,615

10,554

VAT

4,364

4,959

Directors' current accounts

12,728

28,951

Accrued expenses

840

32,547

45,304

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

£1

100

8.

RESERVES

Profit

and loss

account

£

At 1 October 2013

9,628

Profit for the year

58,233

Dividends

(30,000

)

At 30 September 2014

37,861

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the period under review, the company paid dividend of £30,000 to the director, who is also the sole

shareholder within the company.