CIARA HIGH RISK LTD - Period Ending 2016-06-30

Registration number: SC451558

CIARA HIGH RISK LTD

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

BLACK & CO CORPORATE TAX ADVISORS
Reporting Accountants
482 Lanark Road West
Edinburgh
Midlothian
EH14 7AN

CIARA HIGH RISK LTD
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
CIARA HIGH RISK LTD
for the Year Ended 30 June 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CIARA HIGH RISK LTD for the year ended 30 June 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of CIARA HIGH RISK LTD , as a body, in accordance with the terms of our engagement letter dated 1 August 2015 . Our work has been undertaken solely to prepare for your approval the accounts of CIARA HIGH RISK LTD and state those matters that we have agreed to state to them, as a body . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CIARA HIGH RISK LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CIARA HIGH RISK LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of CIARA HIGH RISK LTD. You consider that CIARA HIGH RISK LTD 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 accounts of CIARA HIGH RISK LTD. 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 accounts.

......................................

BLACK & CO CORPORATE TAX ADVISORS
Reporting Accountants
482 Lanark Road West
Edinburgh
Midlothian
EH14 7AN

4 March 2017

Page 1

CIARA HIGH RISK LTD
(Registration number: SC451558)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					8,292			4,990
Current assets
Debtors					1,177			200
Cash at bank and in hand					1,088			192
					2,265			392
Creditors: Amounts falling due within one year					(12,869)			(3,784)
Net current liabilities					(10,604)			(3,392)
Net (liabilities)/assets					(2,312)			1,598
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(2,314)			1,596
Shareholders' (deficit)/funds					(2,312)			1,598

For the year ending 30 June 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 Board on 4 March 2017 and signed on its behalf by:

.........................................
ARTHUR McGEARY
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

CIARA HIGH RISK LTD
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... 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 January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

The director has from time to time has assisted the company with director loans for specific projects and normal working capital requirements. The director has confirmed that this assistance is ongoing and will continue for the foreseeable future to allow the company to grow.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is charged such as to write off the assets over their estimated useful working lives at the rates set out below.

Asset class	Depreciation method and rate
Plant and machinery	25% straight line
Office equipment	25% straight line

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

CIARA HIGH RISK LTD
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2015		6,653			6,653
Additions		5,554			5,554
At 30 June 2016		12,207			12,207
Depreciation
At 1 July 2015		1,663			1,663
Charge for the year		2,252			2,252
At 30 June 2016		3,915			3,915
Net book value
At 30 June 2016		8,292			8,292
At 30 June 2015		4,990			4,990

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 4