Orka Consulting Ltd Small abbreviated accounts

Orka Consulting Ltd Small abbreviated accounts

ORKA CONSULTING LTD - Company Information

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COMPANY REGISTRATION NUMBER 05609761
ORKA CONSULTING LTD
UNAUDITED ABBREVIATED ACCOUNTS
FOR THE YEAR ENDING
31 March 2015
JAMESONS
Chartered Accountants
7 Kings Court
Newcomen Way
Colchester
Essex
CO4 9RA
ORKA CONSULTING LTD
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF ORKA CONSULTING LTD
YEAR ENDED 31 MARCH 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Orka Consulting Ltd for the year ended 31 March 2015 which comprise the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Orka Consulting Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the abbreviated accounts of Orka Consulting Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 02/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Orka Consulting Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Orka Consulting Ltd has kept adequate accounting records and to prepare statutory abbreviated accounts that give a true and fair view of the assets, liabilities, financial position and loss of Orka Consulting Ltd. You consider that Orka Consulting Ltd 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 abbreviated accounts of Orka Consulting Ltd. 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 abbreviated accounts.
JAMESONS Chartered Accountants
7 Kings Court Newcomen Way Colchester Essex CO4 9RA
22 December 2015
ORKA CONSULTING LTD
ABBREVIATED BALANCE SHEET
31 March 2015
2015
2014
Note
£
£
£
£
FIXED ASSETS
2
Intangible assets
22,000
24,000
Tangible assets
3,861
4,410
--------
--------
25,861
28,410
CURRENT ASSETS
Cash at bank and in hand
843
16
CREDITORS: Amounts falling due within one year
27,365
25,536
--------
--------
NET CURRENT LIABILITIES
( 26,522)
( 25,520)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 661)
2,890
PROVISIONS FOR LIABILITIES
570
580
-------
-------
( 1,231)
2,310
-------
-------
CAPITAL AND RESERVES
Called-up equity share capital
3
2
2
Profit and loss account
( 1,233)
2,308
-------
-------
(DEFICIT)/SHAREHOLDERS' FUNDS
( 1,231)
2,310
-------
-------
For the year ended 31 March 2015 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 accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved by the directors and authorised for issue on 15 December 2015 , and are signed on their behalf by:
Dr H J French
Director
Company Registration Number: 05609761
ORKA CONSULTING LTD
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31 MARCH 2015
1. ACCOUNTING POLICIES
Basis of accounting
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). Going concern Despite the deficiency in shareholders funds these accounts are prepared on a going concern basis as the directors intend to provide sufficient support to the company to enable it to trade for a period in excess of twelve months from the date of signing these accounts.
Turnover
The turnover shown in the profit and loss account represents amounts earned during the year.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill - 20 Years
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant & Machinery - 25% Reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and law.
2. FIXED ASSETS
Intangible Assets
Tangible Assets
Total
£
£
£
COST
At 1 April 2014
40,000
22,373
62,373
Additions
–
737
737
--------
--------
--------
At 31 March 2015
40,000
23,110
63,110
--------
--------
--------
DEPRECIATION
At 1 April 2014
16,000
17,963
33,963
Charge for year
2,000
1,286
3,286
--------
--------
--------
At 31 March 2015
18,000
19,249
37,249
--------
--------
--------
NET BOOK VALUE
At 31 March 2015
22,000
3,861
25,861
--------
-------
--------
At 31 March 2014
24,000
4,410
28,410
--------
-------
--------
3. SHARE CAPITAL
Allotted, called up and fully paid:
2015
2014
No
£
No
£
Ordinary shares of £ 1 each
2
2
2
2
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2
2
2
2
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