UNDER_OUR_UMBRELLA_LIMITE - Accounts

UNDER_OUR_UMBRELLA_LIMITE - Accounts

UNDER OUR UMBRELLA LIMITED - Company Information

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Company Registration No. 07150920 (England and Wales)
UNDER OUR UMBRELLA LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
UNDER OUR UMBRELLA LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
UNDER OUR UMBRELLA LIMITED
ABBREVIATED BALANCE SHEET
AS AT
28 FEBRUARY 2015
28 February 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
-
10,000
Tangible assets
2
9,146
9,466
9,146
19,466
Current assets
Debtors
490,070
328,305
Cash at bank and in hand
3,498
773
493,568
329,078
Creditors: amounts falling due within one year
(396,191)
(240,107)
Net current assets
97,377
88,971
Total assets less current liabilities
106,523
108,437
Capital and reserves
Called up share capital
3
50,000
50,000
Profit and loss account
56,523
58,437
Shareholders'  funds
106,523
108,437
For the financial year ended 28 February 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his 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 30 November 2015
Mr D E McKay
Director
Company Registration No. 07150920
UNDER OUR UMBRELLA LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 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).

The Director considers the company to be a going concern but has not assessed a period in excess of 12 months from the date of the signing of these accounts.

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 shown in the profit and loss account represents amounts receivable in respect of work done during the year. In respect of contracts for ongoing services turnover represents the value of work done in the year including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the stage of completion.

 

In respect of contracts for ongoing services turnover represents the value of work done in the year including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the stage of completion.

 

1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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:
Plant and machinery
25% on a reducing balance basis
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling 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.
UNDER OUR UMBRELLA LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 March 2014
50,000
20,593
70,593
Additions
-
2,749
2,749
Disposals
-
(1,248)
(1,248)
At 28 February 2015
50,000
22,094
72,094
Depreciation
At 1 March 2014
40,000
11,128
51,128
On disposals
-
(312)
(312)
Charge for the year
10,000
2,132
12,132
At 28 February 2015
50,000
12,948
62,948
Net book value
At 28 February 2015
-
9,146
9,146
At 28 February 2014
10,000
9,466
19,466
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
50,000  of £1 each
50,000
50,000
4
Related party relationships and transactions

The company was under the control of D E McKay throughout the current and previous year.

 

The company maintains a loan account with it's director. At the year end £222,911 (2014 - £177,850) was owed from D E McKay. This loan is charged at 4% interest and has no fixed date for repayment.

 

At the year end the company owed £21,150 (2014 - £33,150) to Linkhill Consultants Limited. D E McKay is a director of Linkhill Consultants Limited.

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