N_P_Consultants_Limited - Accounts
N_P_Consultants_Limited - Accounts
For the year ended 31 July 2015
Company Registration No. 02898930 (England and Wales)
Company Information
Director
Secretary
Company number
Registered office
Accountants
Contents
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 9
Director's Report
For the year ended 31 July 2015
Page 1
The director presents his report and financial statements for the year ended 31 July 2015.
Principal activities
Director
The following director has held office since 1 August 2014:
N R Peele
Statement of director's responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Director
Chartered Accountants' Report to the Director on the preparation of the unaudited Statutory Financial Statements of N P Consultants Limited for the year ended 31 July 2015
Page 2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of N P Consultants Limited for the year ended 31 July 2015 which comprise the Profit and Loss Account, 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, 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 N P Consultants Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of N P Consultants Limited and state those matters that we have agreed to state to the Board of Directors of N P Consultants Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than N P Consultants Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that N P Consultants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of N P Consultants Limited. You consider that N P Consultants Limited 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 financial statements of N P Consultants Limited. 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 financial statements.
Kingston Smith LLP
Chartered Accountants
Profit and Loss Account
For the year ended 31 July 2015
Page 3
2015
2014
Notes
£
£
Turnover
Cost of sales
(27,396 )
-
Gross profit
Administrative expenses
(440,433 )
(291,555 )
Operating (loss)/profit
(409,741 )
Other interest receivable and similar income
2
Interest payable and similar charges
-
(11 )
(Loss)/profit on ordinary activities before taxation
(404,427 )
Tax on (loss)/profit on ordinary activities
3
(221,409 )
(Loss)/profit for the year
9
(311,755 )
Balance Sheet
As at 31 July 2015
Page 4
2015
2014
Notes
£
£
£
£
Fixed assets
Investments
5
-
-
-
Current assets
Debtors
6
Cash at bank and in hand
Creditors: amounts falling due within one year
7
(167,887 )
(295,381 )
Total assets less current liabilities
Capital and reserves
Called up share capital
8
Profit and loss account
9
Shareholders' funds
Approved by the Board for issue on 28 April 2016
Director
Company Registration No. 02898930
Notes to the Financial Statements
For the year ended 31 July 2015
Page 5
1
Accounting policies
1.1
Accounting convention
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
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
2
Investment income
2015
2014
£
£
Other interest
3
Taxation
2015
2014
£
£
Domestic current year tax
U.K. corporation tax
(92,672 )
Total current tax
(92,672 )
4
Dividends
2015
2014
£
£
Ordinary interim dividend paid
168,000
80,000
Notes to the Financial Statements (Continued)
For the year ended 31 July 2015
Page 6
5
Fixed asset investments
Shares in group undertakings and participating interests
£
Cost
At 1 August 2014 & at 31 July 2015
40
Provisions for diminution in value
At 1 August 2014 & at 31 July 2015
40
Net book value
At 31 July 2015
-
At 31 July 2014
-
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Participating interests
Ordinary
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
2015
2015
Principal activity
£
£
(1,963,037)
1,386
6
Debtors
2015
2014
£
£
Trade debtors
Other debtors
Notes to the Financial Statements (Continued)
For the year ended 31 July 2015
Page 7
7
Creditors: amounts falling due within one year
2015
2014
£
£
Trade creditors
Taxation and social security
Other creditors
8
Share capital
2015
2014
£
£
Allotted and called up
2 Ordinary shares of £1 each are unpaid at the balance sheet date and are included within other debtors.
9
Statement of movements on profit and loss account
Profit and loss
account
account
£
Balance at 1 August 2014
Loss for the year
(311,755 )
Dividends paid
(168,000 )
Balance at 31 July 2015
10
Control
The controlling party is N R Peele, by virtue of his 100% shareholding in the company.
Notes to the Financial Statements (Continued)
For the year ended 31 July 2015
Page 8
11
Related party relationships and transactions
Loans (from)/to directors
Transactions in relation to loans (from)/to directors are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
N R Peele Loan
3.17
(58,815)
261,194
145
(202,679)
(155)
(58,815)
261,194
145
(202,679)
(155)
Dividends to Directors
2015
2014
£
£
N R Peele
168,000
80,000
168,000
80,000
Notes to the Financial Statements (Continued)
For the year ended 31 July 2015
11
Related party relationships and transactions
(Continued)
Page 9
Other transactions
N R Peele is a director and shareholder of La Manzanilla (UK) Limited. At the balance sheet date, the company was owed an amount of £66,037 (2014: £66,037) by La Manzanilla (UK) Limited. A provision has been made against the entire amount owed by La Manzanilla (UK) Limited.
The company has a participating interest in Polbond Limited. At the balance sheet date, the company was owed an amount of £52,434 (2014: £122,429) by Polbond Limited. A provision has been made against the entire amount owed by Polbond Limited.
N R Peele is a director and shareholder of Gradeclear Limited. At the balance sheet date, the company was owed an amount of £318,292 (2014: £318,323) by Gradeclear Limited. A provision of £301,292 has been made against the amount owed by Gradeclear Limited.
N R Peele is a director and shareholder of Solar Power South Limited. During the year the company invoiced fees of £318,663 (2014: £1,124,378), and issued credit notes totalling £151,200 (2014: £300,000) to Solar Power South Limited. At the balance sheet date, the company was owed an amount of £762,212 (2014: £177,317) by Solar Power South Limited. A provision of £414,457 has been made against the amount owed by Solar Power South Limited.
During the year, the company lent £nil (2014: £300,000) to the sister of N R Peele. The loan was repaid during the year with an interest charge of £4,063 (2014: £3,250) based on an interest at a rate of 3.25% per annum. At the balance sheet date, the company was owed an amount of £nil (2014: £303,250) by the sister of N R Peele.
During the year D Peele, the wife of N R Peele lent the company £20,000 which was outstanding at year end.
Management Information
For the year ended 31 July 2015
Schedule of Administrative Expenses
For the year ended 31 July 2015
2015
2014
£
£
Administrative expenses
Wages and salaries (excl. N.I.)
79,064
67,715
Employer's NI contributions
9,719
6,761
Commission
-
7,573
Insurance
332
366
Repairs and maintenance
412
12,398
Telephone
1,059
538
Legal and professional fees
14,780
221,598
Accountancy
6,526
9,123
Bank charges
99
192
Bad and doubtful debts
328,424
(37,261)
Irrecoverable VAT
-
2,552
Sundry expenses
18
-