Company Registration No. 04575300 (England and Wales)
INTERLACE CONSULTING LTD
ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 OCTOBER 2014
INTERLACE CONSULTING LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
INTERLACE CONSULTING LTD
ABBREVIATED BALANCE SHEET
AS AT
30 OCTOBER 2014
30 October 2014
- 1 -
2014
2013
Notes
€
€
€
€
Fixed assets
Investments
2
1,200
1,200
Current assets
Debtors
336,139
301,869
Cash at bank and in hand
106
1,981
336,245
303,850
Creditors: amounts falling due within one year
(310,707)
(302,824)
Net current assets
25,538
1,026
Total assets less current liabilities
26,738
2,226
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
26,736
2,224
Shareholders' funds
26,738
2,226
For the financial period ended 30 October 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 27 October 2015
J. Eriksson
Director
Company Registration No. 04575300
INTERLACE CONSULTING LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 OCTOBER 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for consultancy services supplied net of VAT. Revenue from the provision of services on long term contracts is recognised when there is a right to the sales consideration whether or not the contract has been completed in the period. Where a contract is uncompleted at the end of an accounting period, the estimated realisable invoice value attributable to work performed in the period is included in sales in the profit and loss account and as accrued revenue in the balance sheet at the period end.consultancy services supplied net of VAT.
Revenue from the provision of services on long term contracts is recognised when there is a right to the sales consideration whether or not the contract has been completed in the period. Where a contract is uncompleted at the end of an accounting period, the estimated realisable invoice value attributable to work performed in the period is included in sales in the profit and loss account and as accrued revenue in the balance sheet at the period end.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
33.3% Straight Line
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into Euros at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.Euros at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
INTERLACE CONSULTING LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 30 OCTOBER 2014
- 3 -
2
Fixed assets
Tangible assets
Investments
Total
€
€
€
Cost
At 1 November 2013 & at 30 October 2014
42,911
1,200
44,111
Depreciation
At 1 November 2013 & at 30 October 2014
42,911
-
42,911
Net book value
At 30 October 2014
-
1,200
1,200
At 31 October 2013
-
1,200
1,200
Holdings of more than 20%
The company holds 100% of the share capital of Bearing Group Ltd, a company incorporated in the UK. Bearing Group Ltd holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
%
Subsidiary undertakings
Bearing Consulting Ltd
UK
57.89
Bearing Venture Innovation Ltd
UK
50.00
Bearing Consulting CW Ltd
UK
100.00
Bearing Consulting ME Ltd
UK
100.00
Handlingskraftigt Kapital AB
Sweden
50.00
Bearing Zagreb d.o.o.
Croatia
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2014
2014
€
€
Bearing Consulting Ltd
(259,140)
12,677
Bearing Venture Innovation Ltd
33,368
(11,896)
Bearing Consulting CW Ltd
(17,610)
(2,986)
Bearing Consulting ME Ltd
1,180
-
Handlingskraftigt Kapital AB
-
-
Bearing Zagreb d.o.o.
-
-
Bearing Group Ltd
30,754
(11,880)
Under the provisions of the Companies Act 2006, the company is exempt from preparing consolidated accounts. The accounts show information about the company as an individual entity.
INTERLACE CONSULTING LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 30 OCTOBER 2014
- 4 -
3
Share capital
2014
2013
€
€
Allotted, called up and fully paid
1 Ordinary shares of €2 each
2
2
The share described above was issued as an ordinary £1 share. The amounts shown are the carrying values in Euros.
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