Charter Tax Consulting Limited - Period Ending 2015-09-30

Registration number: 06889438

Charter Tax Consulting Limited

trading as Charter Tax

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

Charter Tax Consulting Ltd
11 St. James's Place
London
SW1A 1NP

Charter Tax Consulting Limited
trading as Charter Tax
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Charter Tax Consulting Limited
trading as Charter Tax
(Registration number: 06889438)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					-			54,167
Tangible fixed assets					21,988			27,699
					21,988			81,866
Current assets
Stocks					104,425			49,962
Debtors					302,507			234,346
Cash at bank and in hand					145,080			43,117
					552,012			327,425
Creditors: Amounts falling due within one year					(384,775)			(152,000)
Net current assets					167,237			175,425
Net assets					189,225			257,291
Capital and reserves
Called up share capital		3			1,000			1,000
Share premium account					188,225			188,225
Profit and loss account					-			68,066
Shareholders' funds					189,225			257,291

For the year ending 30 September 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.

 

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Charter Tax Consulting Limited
trading as Charter Tax
(Registration number: 06889438)
Abbreviated Balance Sheet at 30 September 2015

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

 

Approved by the Board on 1 June 2016 and signed on its behalf by:

 Miss Janet Treacy Paterson
 Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Charter Tax Consulting Limited
trading as Charter Tax
Notes to the Abbreviated Accounts for the Year Ended 30 September 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).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts invoiced, net of value added tax, in respect of the sale of services to customers in the period.

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

Asset class	Amortisation method and rate
Goodwill	5 Years 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
Equipment	25% Straight line
Fixtures and fittings	25% Reducing balance

Long term contracts

Work in progress is valued on the amount of time and disbursements generated in the period end that has not yet been invoiced.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Page 3

Charter Tax Consulting Limited
trading as Charter Tax
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2014		250,000			93,596			343,596
Additions		-			14,285			14,285
At 30 September 2015		250,000			107,881			357,881
Depreciation
At 1 October 2014		195,833			65,897			261,730
Charge for the year		54,167			19,996			74,163
At 30 September 2015		250,000			85,893			335,893
Net book value
At 30 September 2015		-			21,988			21,988
At 30 September 2014		54,167			27,699			81,866

Page 4

Charter Tax Consulting Limited
trading as Charter Tax
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Miss Janet Treacy Paterson
Advance in period	1,095	50,012	51,107	51,107
Mr Michael Thomas Cordwell
Advance in period	-	4,690	4,690	4,690

Page 5