EUROPE_RAIL_CONSULTANCY_L - Accounts

EUROPE RAIL CONSULTANCY LIMITED - Company Information

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Company Registration No. 2897402 (England and Wales)

EUROPE RAIL CONSULTANCY LIMITED

DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

EUROPE RAIL CONSULTANCY LIMITED

COMPANY INFORMATION

Director

Mrs V P Dugdale

Secretary

Mrs V P Dugdale

Company number

2897402

Registered office

17 North Court

Hassocks

West Sussex

BN6 8JS

Accountants

Knill James

One Bell Lane

Lewes

East Sussex

BN7 1JU

Business address

17 North Court

Hassocks

West Sussex

BN6 8JS

EUROPE RAIL CONSULTANCY LIMITED

CONTENTS

Page

Director's report

Accountants' report

Profit and loss account

Statement of total recognised gains and losses

Balance sheet

Notes to the financial statements

6 - 9

EUROPE RAIL CONSULTANCY LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 MARCH 2016

- 1 -

The director presents her report and financial statements for the year ended 31 March 2016.

Principal activities

The principal activity of the company continued to be that of providing consultancy services to the railway industry. On the 25 October 2016, the director C Dugdale passed away, as a result the company ceased to trade.

Director

The following director has held office since 1 April 2015:

Mr C Dugdale

(Deceased 25 October 2016)

Mrs V P Dugdale

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

Mrs V P Dugdale

Director

16 December 2016

EUROPE RAIL CONSULTANCY LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EUROPE RAIL CONSULTANCY LIMITED FOR THE YEAR ENDED 31 MARCH 2016

- 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 Europe Rail Consultancy Limited for the year ended 31 March 2016 set out on pages 3 to 9 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Europe Rail Consultancy Limited, as a body, in accordance with the terms of our engagement letter dated 31 July 2009. Our work has been undertaken solely to prepare for your approval the financial statements of Europe Rail Consultancy Limited and state those matters that we have agreed to state to the Board of Directors of Europe Rail Consultancy Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Europe Rail Consultancy Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Europe Rail Consultancy 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 Europe Rail Consultancy Limited. You consider that Europe Rail Consultancy 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 Europe Rail Consultancy 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.

Knill James

19 December 2016

Chartered Accountants

One Bell Lane

Lewes

East Sussex

BN7 1JU

EUROPE RAIL CONSULTANCY LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

2016

2015

Notes

Turnover

9,133

19,379

Cost of sales

(1,283)

(4,989)

Gross profit

7,850

14,390

Administrative expenses

(36,173)

(45,175)

Operating loss

(28,323)

(30,785)

Investment income

2,009

1,807

Other interest receivable and similar income

1,936

2,041

Loss on ordinary activities before taxation

(24,378)

(26,937)

Tax on loss on ordinary activities

482

506

Loss for the year

(23,896)

(26,431)

EUROPE RAIL CONSULTANCY LIMITED

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

2016

2015

Notes

Loss for the financial year

(23,896)

(26,431)

Unrealised (deficit)/surplus on fixed asset investment

4,754

Total recognised gains and losses relating to the year

(23,896)

(21,677)

EUROPE RAIL CONSULTANCY LIMITED

BALANCE SHEET

AS AT

31 MARCH 2016

- 5 -

2016

2015

Notes

Fixed assets

Tangible assets

1,359

1,063

Investments

132,957

154,262

134,316

155,325

Current assets

Debtors

1,175

4,334

Cash at bank and in hand

21,757

34,333

22,932

38,667

Creditors: amounts falling due within one year

(10,793)

(12,024)

Net current assets

12,139

26,643

Total assets less current liabilities

146,455

181,968

Capital and reserves

Called up share capital

Revaluation reserve

19,926

31,543

Profit and loss account

126,527

150,423

Shareholders' funds

146,455

181,968

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board for issue on 16 December 2016

Mrs V P Dugdale

Director

Company Registration No. 2897402

EUROPE RAIL CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

- 6 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

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

Turnover represents amounts receivable for services provided by the company net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

Straight line over 3 years

1.5

Investments

Fixed asset investments are shown at open market value and any surplus is credited to a revaluation reserve. Any temporary diminution in value is taken to the revaluation reserve. Any permanent diminution in value is written off through the profit and loss account.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Turnover

In the year to 31 March 2016 100% (2015 - 100%) of the company's turnover was to markets outside the United Kingdom.

Operating loss

2016

2015

Operating loss is stated after charging:

Depreciation of tangible assets

946

532

Director's remuneration

30,000

30,382

EUROPE RAIL CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 7 -

Investment income

2016

2015

Income from fixed asset investments

2,009

1,807

Bank interest

1,936

2,039

Other interest

3,945

3,848

Taxation

2016

2015

Domestic current year tax

U.K. corporation tax

(482)

(506)

Total current tax

(482)

(506)

The company has estimated losses of £ 56,363 (2015 - £ 28,213) available for carry forward against future trading profits.

The company has no material liabilities or assets in respect of deferred taxation (2015 - £nil).

Tangible fixed assets

Plant and machinery etc

Cost or valuation

At 1 April 2015

9,129

Additions

1,242

At 31 March 2016

10,371

Depreciation

At 1 April 2015

8,066

Charge for the year

946

At 31 March 2016

9,012

Net book value

At 31 March 2016

1,359

At 31 March 2015

1,063

EUROPE RAIL CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 8 -

Fixed asset investments

Listed investments

Cost or valuation

At 1 April 2015

154,262

Additions

4,208

Revaluation

(11,620)

Disposals

(13,893)

At 31 March 2016

132,957

Net book value

At 31 March 2016

132,957

At 31 March 2015

154,262

Debtors

2016

2015

Trade debtors

705

2,715

Other debtors

470

1,619

1,175

4,334

Creditors: amounts falling due within one year

2016

2015

Bank loans and overdrafts

848

Trade creditors

1,292

3,431

Taxation and social security

Other creditors

8,555

8,495

10,793

12,024

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

EUROPE RAIL CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 9 -

Statement of movements on reserves

Revaluation reserve

Profit
and loss
account

Balance at 1 April 2015

31,543

150,423

Loss for the year

(23,896)

Revaluation during the year

(11,617)

Balance at 31 March 2016

19,926

126,527

Control

The company is controlled by its directors, who have a beneficial interest in the entire issued share capital of the company.

Related party relationships and transactions

The company rented office space from the directors for the sum of £400 (2015 - £400). Included within other creditors is an amount of £6,950 (2015 - £6,950) owed to the directors of the company.

EUROPE RAIL CONSULTANCY LIMITED

MANAGEMENT INFORMATION

FOR THE YEAR ENDED 31 MARCH 2016

EUROPE RAIL CONSULTANCY LIMITED

SCHEDULE OF ADMINISTRATIVE EXPENSES

FOR THE YEAR ENDED 31 MARCH 2016

2016

2015

Administrative expenses

Directors' remuneration

30,000

30,382

Employer's N.I. contributions

972

Insurance

353

Light and heat

400

Repairs and maintenance

315

Printing, postage and stationery

226

220

Telephone

1,111

1,244

Computer running costs

1,086

721

Travelling expenses

209

3,025

Accountancy

1,605

2,040

Bank charges

209

412

Credit card charges

(14)

Bad and doubtful debts

204

Loss on foreign currency

(1,108)

3,623

Sundry expenses

123

102

Subscriptions and conference fees

571

959

Depreciation

946

532

(Profit)/loss on disposal of fixed assets

127

36,173

45,175