Abbreviated Company Accounts - PALLENE CONSULTING LIMITED

Abbreviated Company Accounts - PALLENE CONSULTING LIMITED

PALLENE CONSULTING LIMITED - Company Information

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Registered Number SC438236

PALLENE CONSULTING LIMITED

Abbreviated Accounts

31 December 2013

PALLENE CONSULTING LIMITED Registered Number SC438236

Abbreviated Balance Sheet as at 31 December 2013

Notes 2013
£
Fixed assets
Tangible assets 2 765
765
Current assets
Debtors 10,000
Cash at bank and in hand 8,910
18,910
Creditors: amounts falling due within one year (12,291)
Net current assets (liabilities) 6,619
Total assets less current liabilities 7,384
Provisions for liabilities (153)
Total net assets (liabilities) 7,231
Capital and reserves
Called up share capital 3 1
Profit and loss account 7,230
Shareholders' funds 7,231
  • For the year ending 31 December 2013 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 24 August 2014

And signed on their behalf by:
Andrew John Hibbert, Director

PALLENE CONSULTING LIMITED Registered Number SC438236

Notes to the Abbreviated Accounts for the period ended 31 December 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy
Turnover comprises the invoice value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
The whole of the turnover and profit or (loss) before taxation is attributable to consultancy.
Revenue recognition
The company recognises revenue to the extent that it has fulfilled its contractual obligations to its customers through the supply of goods and services.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. The cost of tangible fixed assets, less any residual value, is written off over their expected useful lives as follows:
Plant & machinery 33% per annum straight line basis

Other accounting policies
Deferred taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers it is more likely than not that there will be suitable tax profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws enacted or substantively enacted by the balance sheet date.

2Tangible fixed assets
£
Cost
Additions 1,184
Disposals -
Revaluations -
Transfers -
At 31 December 2013 1,184
Depreciation
Charge for the year 419
On disposals -
At 31 December 2013 419
Net book values
At 31 December 2013 765
3Called Up Share Capital
Allotted, called up and fully paid:
2013
£
1 Ordinary shares of £1 each 1

1 ordinary £1 share issued in the period in order to capitalise the company.