SOS Design Consultancy Ltd - Period Ending 2016-05-31

Registration number: 05737946

SOS Design Consultancy Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

SOS Design Consultancy Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

SOS Design Consultancy Ltd
(Registration number: 05737946)
Abbreviated Balance Sheet at 31 May 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					1,988			3,092
Tangible fixed assets					12,675			14,089
					14,663			17,181
Current assets
Work in progress					1,852			768
Debtors					99,373			104,614
Cash at bank and in hand					36,525			-
					137,750			105,382
Creditors: Amounts falling due within one year					(109,942)			(102,844)
Net current assets					27,808			2,538
Net assets					42,471			19,719
Capital and reserves
Called up share capital		3			300			300
Profit and loss account					42,171			19,419
Shareholders' funds					42,471			19,719

For the year ending 31 May 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 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 7 January 2016 and signed on its behalf by:

.........................................
DP Rutty
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

SOS Design Consultancy Ltd
(Registration number: 05737946)
Abbreviated Balance Sheet at 31 May 2015
......... continued

.........................................
SJ Day
Director

.........................................
MW Perry
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

SOS Design Consultancy Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 work carried out during the year.

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% 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 and fittings	15% reducing balance
Office equipment	30% reducing balance
Computer software	30% straight line

Work in progress

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

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

Page 3

SOS Design Consultancy Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 June 2014		12,022			47,834			59,856
Additions		-			3,439			3,439
At 31 May 2015		12,022			51,273			63,295
Depreciation
At 1 June 2014		8,930			33,745			42,675
Charge for the year		1,104			4,853			5,957
At 31 May 2015		10,034			38,598			48,632
Net book value
At 31 May 2015		1,988			12,675			14,663
At 31 May 2014		3,092			14,089			17,181

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		300			300			300			300

Page 4