MONOCLE_CONSULTING_LIMITE - Accounts

MONOCLE CONSULTING LIMITED - Company Information

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Company Registration No. 03918018 (England and Wales)

MONOCLE CONSULTING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

MONOCLE CONSULTING LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

MONOCLE CONSULTING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

253,118

1,832

Current assets

Debtors

64,464

53,643

Cash at bank and in hand

26,308

282,071

90,772

335,714

Creditors: amounts falling due within one year

(36,651)

(23,485)

Net current assets

54,121

312,229

Total assets less current liabilities

307,239

314,061

Provisions for liabilities

(444)

(367)

306,795

313,694

Capital and reserves

Called up share capital

Profit and loss account

306,794

313,693

Shareholders' funds

306,795

313,694

MONOCLE CONSULTING LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 5 December 2016

Mr I F Glass

Director

Company Registration No. 03918018

MONOCLE CONSULTING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention 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 computer consultancy services, net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets except for the investment properties are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the costs less estimated value of each asset over its expected useful life as follows:

Computer equipment

33% reducing balance

Fixtures, fittings & equipment

15% reducing balance

In accordance with FRSSE (effective January 2015), investment properties are revalued annually at their open market value and the aggregate surplus or deficit on revaluation is transferred to reserves, no depreciation is provided in respect of investment properties except where any deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account.

This policy represents a departure from the requirements of the Companies Act 2006, which requires depreciation to be provided on all fixed assets. The directors consider that, because these properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view, and that it is necessary to adopt FRSSE in order to give a true and fair view.

If this departure from the Act had not been made, the profit for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

1.5

Deferred taxation

Full provision is made, at the tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted at the balance sheet date, in respect of all timing differences which have arisen but not reversed at the balance sheet date. Timing differences are differences between the company's taxable profits and it's results as stated in the accounts. Deferred tax is measured on a non-discounted basis.

MONOCLE CONSULTING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

Accounting policies

(Continued)

- 4 -

1.6

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.

Fixed assets

Tangible assets

Cost

At 1 April 2015

5,791

Additions

252,383

Disposals

(2,868)

At 31 March 2016

255,306

Depreciation

At 1 April 2015

3,959

On disposals

(2,310)

Charge for the year

539

At 31 March 2016

2,188

Net book value

At 31 March 2016

253,118

At 31 March 2015

1,832

Debtors

Debtors include an amount of £20,485 (2015 - £-) which is due after more than one year.