Kearnico Consulting Limited - Period Ending 2014-07-31

Registration number: SC403780

Kearnico Consulting Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2014
 

A9 Accountancy Limited
Chartered Accountants
Elm House
Cradlehall Business Park
Inverness
IV2 5GH

Kearnico Consulting Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Kearnico Consulting Limited
(Registration number: SC403780)
Abbreviated Balance Sheet at 31 July 2014

		Note			2014 £			2013 £
Current assets
Debtors					2,131			17,460
Cash at bank and in hand					22,271			62,484
					24,402			79,944
Creditors: Amounts falling due within one year					(16,098)			(55,121)
Net assets					8,304			24,823
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					8,204			24,723
Shareholders' funds					8,304			24,823

For the year ending 31 July 2014 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 30 September 2014 and signed on its behalf by:

.........................................
Mr D Kearney
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Kearnico Consulting Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... 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 the services to customers.

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
Office equipment	25% reducing balance basis

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

		Tangible assets £			Total £
Cost
At 1 August 2013		1			1
At 31 July 2014		1			1
Depreciation
At 1 August 2013		1			1
At 31 July 2014		1			1
Net book value
At 31 July 2014		-			-
At 31 July 2013		-			-

Page 2

Kearnico Consulting Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3