Gleneagles Project Services Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 05871949 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

GLENEAGLES PROJECT SERVICES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A J Murray

R D H Simpson

T M Taylor

SECRETARY:

Mrs V Murray

REGISTERED OFFICE:

2 Greaves House Lane

Lepton

Huddersfield

West Yorkshire

HD8 0DJ

REGISTERED NUMBER:

05871949 (England and Wales)

ACCOUNTANTS:

Wentworths & Associates Limited

White Hart House

Silwood Road

Ascot

Berkshire

SL5 0PY

FIXED ASSETS

Property, plant and equipment

4

12,895

23,442

CURRENT ASSETS

Debtors

5

407,205

500,305

Cash at bank and in hand

379,301

456,876

786,506

957,181

CREDITORS

Amounts falling due within one year

6

201,631

241,572

NET CURRENT ASSETS

584,875

715,609

TOTAL ASSETS LESS CURRENT LIABILITIES

597,770

739,051

PROVISIONS FOR LIABILITIES

1,909

4,225

NET ASSETS

595,861

734,826

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

595,761

734,726

SHAREHOLDERS' FUNDS

595,861

734,826

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 2 May 2017 and were signed on its behalf by:

A J Murray - Director

1.	STATUTORY INFORMATION

Gleneagles Project Services Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue

Revenue, described as turnover, is the value of work (net of value added tax) performed during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 .

4.	PROPERTY, PLANT AND EQUIPMENT

Office

equipment

£

COST

At 1 January 2016

108,586

Additions

4,788

Disposals

(9,326

)

At 31 December 2016

104,048

DEPRECIATION

At 1 January 2016

85,144

Charge for year

15,335

Eliminated on disposal

(9,326

)

At 31 December 2016

91,153

NET BOOK VALUE

At 31 December 2016

12,895

At 31 December 2015

23,442

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

375,130

468,016

Other debtors

32,075

32,289

407,205

500,305

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

29,043

71,160

Taxation and social security

136,966

155,492

Other creditors

35,622

14,920

201,631

241,572

7.	ULTIMATE CONTROLLING PARTY

The controlling party is A J Murray.