Research and Consultation Limited - Period Ending 2014-12-31

Registration number: 06366177

Research and Consultation Limited

Abbreviated Accounts

for the Year Ended 31 December 2014
 

Research and Consultation Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

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 6) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Research and Consultation Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Research and Consultation Limited for the year ended 31 December 2014 set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Research and Consultation Limited, as a body, in accordance with the terms of our engagement letter dated 12 September 2007. Our work has been undertaken solely to prepare for your approval the accounts of Research and Consultation Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Research and Consultation Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Research and Consultation 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 loss of Research and Consultation Limited. You consider that Research and Consultation 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 Research and Consultation 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.

Rowlands Webster Limited
Tax Advisers & Accountants
Austin House
43 Poole Road
Westbourne
Bournemouth
Dorset
BH4 9DN

7 July 2015

Research and Consultation Limited (Registration number: 06366177)

Abbreviated Balance Sheet
  at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					203			462
Current assets
Debtors					44			16,042
Cash at bank and in hand					6,665			131
					6,709			16,173
Creditors: Amounts falling due within one year					(6,403)			(16,081)
Net current assets					306			92
Total assets less current liabilities					509			554
Creditors: Amounts falling due after more than one year					(44,000)			(20,000)
Provisions for liabilities					-			(92)
Net liabilities					(43,491)			(19,538)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(43,591)			(19,638)
Shareholders' deficit					(43,491)			(19,538)

For the year ending 31 December 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 7 July 2015 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Research and Consultation Limited (Registration number: 06366177)

Abbreviated Balance Sheet
  at 31 December 2014

.........................................
Mr G Shepherd
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Research and Consultation Limited

Notes to the Abbreviated Accounts
  for the Year Ended 31 December 2014

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).

Going concern

At the balance sheet date, the Company's liabilities exceeded its assets. The Company has received assurance from the Directors that they will continue to give financial support to the Company for twelve months from the date of signing these financial statements.

On this basis, the Directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the Company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

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
Computer equipment	Cost at 25%

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.

Page 4

Research and Consultation Limited

Notes to the Abbreviated Accounts
  for the Year Ended 31 December 2014

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

		Tangible assets £			Total £
Cost
At 1 January 2014		1,342			1,342
At 31 December 2014		1,342			1,342
Depreciation
At 1 January 2014		880			880
Charge for the year		259			259
At 31 December 2014		1,139			1,139
Net book value
At 31 December 2014		203			203
At 31 December 2013		462			462

Page 5

Research and Consultation Limited

Notes to the Abbreviated Accounts
  for the Year Ended 31 December 2014

3	Share capital

Allotted, called up and fully paid shares

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

Page 6