GNE Consultancy Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: SC310879 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 October 2016

for

GNE CONSULTANCY LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

G Emslie

SECRETARY:

Mrs C Emslie

REGISTERED OFFICE:

47 Wallace Brae Drive

Reddingmuirhead

Falkirk

Stirlingshire

FK2 0FB

REGISTERED NUMBER:

SC310879 (Scotland)

ACCOUNTANTS:

McAllisters

Paxton House

11 Woodside Crescent

Charing Cross

Glasgow

G3 7UL

FIXED ASSETS

Tangible assets

2

365

510

CURRENT ASSETS

Debtors

25,195

28,873

Cash at bank and in hand

1,947

1,270

27,142

30,143

CREDITORS

Amounts falling due within one year

3

24,850

18,350

NET CURRENT ASSETS

2,292

11,793

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,657

12,303

CREDITORS

Amounts falling due after more than one year

3

3,747

9,327

NET (LIABILITIES)/ASSETS

(1,090

)

2,976

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(1,190

)

2,876

SHAREHOLDERS' FUNDS

(1,090

)

2,976

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

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

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 13 July 2017 and were signed by:

G Emslie - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different

from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences

which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to

apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered.

Deferred tax assets and liabilities are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

3,495

DEPRECIATION

At 1 November 2015

2,985

Charge for year

145

At 31 October 2016

3,130

NET BOOK VALUE

At 31 October 2016

365

At 31 October 2015

510

3.

CREDITORS

Creditors include an amount of £ 9,127 (31.10.15 - £ 14,707 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

100

Ordinary

£1

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2016 and 31 October 2015:

31.10.16

31.10.15

£

G Emslie

Balance outstanding at start of year

(7,301

)

(103

)

Amounts advanced

285

4,500

Amounts repaid

(5,354

)

(11,698

)

Balance outstanding at end of year

(12,370

)

(7,301

)

6.	ULTIMATE CONTROLLING PARTY

G Emslie holds 60% of the issued share capital and is therefore considered to be the ultimate controlling party.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of GNE Consultancy Ltd for the year ended 31 October 2016 which comprise the Profit and Loss Account, the Balance

Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the director of GNE Consultancy Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of GNE Consultancy Ltd and state those matters that we have agreed to state to the director of GNE Consultancy Ltd in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that GNE Consultancy Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of GNE Consultancy Ltd. You consider that GNE Consultancy 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 financial statements of GNE Consultancy 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 financial statements.

McAllisters

Paxton House

11 Woodside Crescent

Charing Cross

Glasgow

G3 7UL

13 July 2017