C Q Consultancy Limited - Period Ending 2015-03-31

Registration number: 5418815

C Q Consultancy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2015
 

C Q Consultancy Limited
Contents

Company Information 1

Director's Report 2

Profit and Loss Account 3

Balance Sheet 4 to 5

Notes to the Financial Statements 6 to 10

C Q Consultancy Limited
Company Information

Director

P Pivcevic

Company secretary

L C Pivcevic

Registered office

18 Belcombe Road Bradford on Avon Wiltshire BA15 1LZ

Company number

5418815

Accountants

Price Davis The Old Baptist Chapel New Street Painswick Gloucestershire GL6 6XH

Page 1

C Q Consultancy Limited
Director's Report for the Year Ended 31 March 2015

The director presents his report and the unaudited financial statements for the year ended 31 March 2015.

Director of the company

The director who held office during the year was as follows:

P Pivcevic

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 11 August 2015 and signed on its behalf by:

.........................................
P Pivcevic
Director

Page 2

C Q Consultancy Limited
Profit and Loss Account for the Year Ended 31 March 2015

		Note			2015 £			2014 £
Turnover					150,243			182,371
Administrative expenses					(125,410)			(32,944)
Operating profit		2			24,833			149,427
Other interest receivable and similar income					2,613			555
Profit on ordinary activities before taxation					27,446			149,982
Tax on profit on ordinary activities		4			(5,744)			(29,927)
Profit for the financial year		11			21,702			120,055

The notes on pages 6 to 10 form an integral part of these financial statements.
Page 3

C Q Consultancy Limited
(Registration number: 5418815)
Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets		5			-			3,400
Tangible fixed assets		6			1,878			2,503
					1,878			5,903
Current assets
Debtors		7			134,324			116,918
Cash at bank and in hand					13,919			75,348
					148,243			192,266
Creditors: Amounts falling due within one year		8			(14,094)			(38,693)
Net current assets					134,149			153,573
Net assets					136,027			159,476
Capital and reserves
Called up share capital		9			100			100
Profit and loss account		11			135,927			159,376
Shareholders' funds					136,027			159,476

The notes on pages 6 to 10 form an integral part of these financial statements.
Page 4

C Q Consultancy Limited
(Registration number: 5418815)
Balance Sheet at 31 March 2015
 

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 31 March 2015 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.

Approved and authorised for issue by the director on 11 August 2015

.........................................
P Pivcevic
Director

The notes on pages 6 to 10 form an integral part of these financial statements.
Page 5

C Q Consultancy Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
 

1	Accounting policies

Basis of preparation

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

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	10 years straight line

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 & fittings	25% reducing balance
Office equipment	25% reducing balance

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 6

C Q Consultancy Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
 

2	Operating profit

Operating profit is stated after charging:

		2015 £			2014 £
Depreciation of tangible fixed assets		626			834
Amortisation		3,400			3,400

3	Director's remuneration

The director's remuneration for the year was as follows:

		2015 £			2014 £
Remuneration (including money purchase pension scheme contributions)		97,956			7,692

During the year the number of directors who were receiving retirement benefits was as follows:

		2015 No.			2014 No.
Accruing benefits under money purchase pension scheme		1			-

4

Taxation

Tax on profit on ordinary activities

		2015 £			2014 £
Current tax
Corporation tax charge		5,744			29,927

Page 7

C Q Consultancy Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
 

5	Intangible fixed assets

		Goodwill £			Total £
Cost
At 1 April 2014		34,000			34,000
At 31 March 2015		34,000			34,000
Amortisation
At 1 April 2014		30,600			30,600
Charge for the year		3,400			3,400
At 31 March 2015		34,000			34,000
Net book value
At 31 March 2015		-			-
At 31 March 2014		3,400			3,400

6	Tangible fixed assets

		Fixtures and fittings £			Office equipment £			Total £
Cost or valuation
At 1 April 2014		1,111			4,674			5,785
Depreciation
At 1 April 2014		788			2,494			3,282
Charge for the year		80			545			625
At 31 March 2015		868			3,039			3,907
Net book value
At 31 March 2015		243			1,635			1,878
At 31 March 2014		323			2,180			2,503

Page 8

C Q Consultancy Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
 

7

Debtors

		2015 £			2014 £
Trade debtors		34,818			29,569
Other debtors		99,506			87,349
		134,324			116,918

Debtors includes £11,789 (2014 - £11,789) receivable after more than one year.

 

8	Creditors: Amounts falling due within one year

		2015 £			2014 £
Trade creditors		119			383
Corporation tax		5,745			29,927
Other taxes and social security		5,477			6,595
Other creditors		2,753			1,788
		14,094			38,693

9	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

10

Dividends

		2015 £			2014 £
Dividends paid
Dividends paid on equity capital		45,150			45,150

Page 9

C Q Consultancy Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
 

11

Reserves

		Profit and loss account £			Total £
At 1 April 2014		159,375			159,375
Profit for the year		21,702			21,702
Dividends		(45,150)			(45,150)
At 31 March 2015		135,927			135,927

12	Related party transactions

During the year dividends were paid to the company secretary, L C Pivcevic, to the value of £14,900 (2014: £14,900) and to the director, P Pivcevic, to the value of £30,250 (2014: £30,250).

During the year the following transactions were made with directors

	P Pivcevic
Opening balance as at 01 April 2014	75,465
Advances and credits made during the year	63,617
Amounts repaid	(51,365)
Amounts Outstanding	87,717

The maximum amount outstanding during the year was £87,717 from the director P Pivcevic. Interest of £2,609 was paid on the loan at the official rate.

13

Control

The company is controlled by the director, P Pivcevic, by virtue of his 67% interest in the ordinary share capital of the company.

Page 10