Balance Consultancy Limited - Period Ending 2016-05-31

Registration number: 08520930

Balance Consultancy Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 31 May 2016

Flemmings Chartered Accountants
76 Canterbury Road
Croydon
Surrey
CR0 3HA

Balance Consultancy Limited

Contents

Abbreviated Balance Sheet	1
Notes to the Abbreviated Accounts	2 to 3

Balance Consultancy Limited

(Registration number: 08520930)
Abbreviated Balance Sheet as at 31 May 2016

	Note	2016  £		2015  £
Fixed assets
Tangible assets	2		755		62
Current assets
Debtors		14,813		8,916
Cash at bank and in hand		33,505		19,465
		48,318		28,381
Creditors: Amounts falling due within one year		(45,821)		(26,319)
Net current assets			2,497		2,062
Total assets less current liabilities			3,252		2,124
Provisions for liabilities			(151)		(12)
Net assets			3,101		2,112
Capital and reserves
Called up share capital	3	100		100
Profit and loss account		3,001		2,012
Shareholders funds			3,101		2,112

For the year ending 31 May 2016 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 director on 11 November 2016

.........................................
Mr S N Shah
Director

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

Balance Consultancy Limited

Notes to the Abbreviated Accounts

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 (FRSSE) (effective January 2015).

Turnover

Turnover represents amounts chargeable 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
Fixtures, fittings and equipment	25% straight line basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

Page 2

Balance Consultancy Limited

Notes to the Abbreviated Accounts

2

Fixed assets

	Tangible assets £	Total £
Cost
At 1 June 2015	129	129
Additions	941	941
At 31 May 2016	1,070	1,070
Depreciation
At 1 June 2015	67	67
Charge for the year	248	248
At 31 May 2016	315	315
Net book value
At 31 May 2016	755	755
At 31 May 2015	62	62

3

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
100 Ordinary Shares of £1 each	100	100	100	100

Page 3