Applied Security Consulting Limited - Period Ending 2014-10-31

Registration number: 04728966

Applied Security Consulting Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2014
 

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

Applied Security Consulting Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Applied Security Consulting Limited
for the Year Ended 31 October 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Applied Security Consulting Limited for the year ended 31 October 2014 set out on pages 4 to 10 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 Board of Directors of Applied Security Consulting Limited . Our work has been undertaken solely to prepare for your approval the accounts of Applied Security Consulting Limited and state those matters that we have agreed to state to them, as a body, 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 Applied Security Consulting Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Applied Security Consulting Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Applied Security Consulting Limited. You consider that Applied Security 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 accounts of Applied Security 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 accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

19 June 2015

Page 1

Applied Security Consulting Limited
(Registration number: 04728966)
Abbreviated Balance Sheet at 31 October 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					2,126			2,056
Current assets
Debtors					23,393			29,707
Cash at bank and in hand					21,170			16,226
					44,563			45,933
Creditors: Amounts falling due within one year					(37,251)			(41,294)
Net current assets					7,312			4,639
Total assets less current liabilities					9,438			6,695
Provisions for liabilities					(53)			-
Net assets					9,385			6,695
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					9,285			6,595
Shareholders' funds					9,385			6,695

For the year ending 31 October 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 19 June 2015 and signed on its behalf by:

.........................................
Mr S J T Bourike
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Applied Security Consulting Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 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 represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Fixtures and fittings	20% straight line
Computer equipment	25% straight line

Deferred tax

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.

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.

Page 3

Applied Security Consulting Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2013		37,180			37,180
Additions		2,754			2,754
Disposals		(37,180)			(37,180)
At 31 October 2014		2,754			2,754
Depreciation
At 1 November 2013		35,124			35,124
Charge for the year		628			628
Eliminated on disposals		(35,124)			(35,124)
At 31 October 2014		628			628
Net book value
At 31 October 2014		2,126			2,126
At 31 October 2013		2,056			2,056

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary A of £1 each		90			90			90			90
Ordinary B of £1 each		10			10			10			10
		100			100			100			100

4	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr & Mrs S J T Bourike
	28,274	25,040	27,140	4,840

Page 4

Applied Security Consulting Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

During the year the company made the following related party transactions:
 
  Mr S J T Bourike and Mrs J Bourike
  The company has been charged £1,040 (2013 £4,840) in respect of rent.
  Interest at an averaged rate of 3.57% has been charged on the averaged overdrawn loan account balance.

Page 5