Company Registration No. 03409613 (England and Wales)
RESULTANCY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2016
RESULTANCY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
RESULTANCY LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
25
34
Current assets
Debtors
8
160
Cash at bank and in hand
12,989
9,542
12,997
9,702
Creditors: amounts falling due within one year
(162,565)
(156,724)
Net current liabilities
(149,568)
(147,022)
Total assets less current liabilities
(149,543)
(146,988)
Capital and reserves
Called up share capital
3
10,000
10,000
Profit and loss account
(159,543)
(156,988)
Shareholders' funds
(149,543)
(146,988)
For the financial year ended 31 July 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 6 February 2017
Dr M Barekat
Director
Company Registration No. 03409613
RESULTANCY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
- 2 -
1
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
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% reducing balance
1.4
The financial statements have been prepared on a going concern basis even though at the balance sheet date the company's current liabilities exceeded its assets by £ 149,543 ( 2015 : £ 146,988 ). The director considers the going concern basis to be appropriate because he is prepared to subordinate the amount due to him in favour of the other creditors for at least the ensuing twelve months, should this be necessary.149,543 (2015: £146,988). The director considers the going concern basis to be appropriate because he is prepared to subordinate the amount due to him in favour of the other creditors for at least the ensuing twelve months, should this be necessary.
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2015 & at 31 July 2016
3,245
Depreciation
At 1 August 2015
3,211
Charge for the year
9
At 31 July 2016
3,220
Net book value
At 31 July 2016
25
At 31 July 2015
34
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100,000 ordinary shares of 10p each
10,000
10,000
