G & P Consultancy Limited Small abridged accounts

G&P CONSULTANCY LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of G & P Consultancy Limited have consented to the preparation of the statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 05999735

G & P Consultancy Limited

Unaudited Abridged Financial Statements

31 December 2016

G & P Consultancy Limited

Abridged Financial Statements

Year ended 31 December 2016

Contents	Page

Directors' report	1

Statement of income and retained earnings	2

Abridged statement of financial position	3

Notes to the abridged financial statements	4

The following pages do not form part of the abridged financial statements

Detailed abridged income statement	8

Notes to the detailed abridged income statement	9

G & P Consultancy Limited

Directors' Report

Year ended 31 December 2016

The directors present their report and the unaudited abridged financial statements of the company for the year ended 31 December 2016 .

Directors

The directors who served the company during the year were as follows:

P M Bailey
Mrs G A Bailey

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 22 September 2017 and signed on behalf of the board by:

Mrs G A Bailey

Director

Registered office:

51 Westcar Lane

Hersham

Walton-On-Thames

Surrey

KT12 5ER

G & P Consultancy Limited

Statement of Income and Retained Earnings

Year ended 31 December 2016

	2016	2015
Note	£	£
Gross profit	103,817	140,894

Administrative expenses	46,931	40,740
	---------	---------
Operating profit	56,886	100,154

Other interest receivable and similar income		8	14
Interest payable and similar expenses		2	–
		---------	---------
Profit before taxation	5	56,892	100,168

Tax on profit	11,612	20,659
	--------	---------
Profit for the financial year and total comprehensive income	45,280	79,509
	--------	---------

Dividends paid and payable	( 45,280)	( 83,400)

Retained earnings at the start of the year	5	3,896
	--------	--------
Retained earnings at the end of the year	5	5
	--------	--------

All the activities of the company are from continuing operations.

G & P Consultancy Limited

Abridged Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£

Current assets

Debtors	24,901	11,129
Cash at bank and in hand	1,653	16,360
	--------	--------
	26,554	27,489

Creditors: amounts falling due within one year	26,547		27,482
	--------		--------
Net current assets		7	7
		----	----
Total assets less current liabilities		7	7
		----	----
Net assets		7	7
		----	----

Capital and reserves

Called up share capital	2	2
Profit and loss account	5	5
	----	----
Members funds	7	7
	----	----

These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 22 September 2017 , and are signed on behalf of the board by:

Mrs G A Bailey

Director

Company registration number: 05999735

G & P Consultancy Limited

Notes to the Abridged Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 51 Westcar Lane, Hersham, Walton-On-Thames, KT12 5ER, Surrey.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to Nil (2015: Nil).

5. Profit before taxation

Profit before taxation is stated after charging:

	2016	2015
	£	£
Depreciation of tangible assets	–	900
	----	----

6. Tangible assets

	£
Cost
At 1 January 2016 and 31 December 2016	8,461
	-------
Depreciation
At 1 January 2016 and 31 December 2016	8,461
	-------
Carrying amount
At 31 December 2016	–
	-------

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2016
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
P M Bailey	906	70,910	( 61,488)	10,328
	----	--------	--------	--------

	2015
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
P M Bailey	( 67)	94,356	( 93,383)	906
	----	--------	--------	----

8. Related party transactions

The company was under the control of Mrs G A Bailey throughout the current and previous year. Mrs Bailey is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.

9. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the year.

G & P Consultancy Limited

Management Information

Year ended 31 December 2016

The following pages do not form part of the abridged financial statements.

G & P Consultancy Limited

Detailed Abridged Income Statement

Year ended 31 December 2016

	2016	2015
	£	£
Turnover	103,817	140,894

	---------	---------
Gross profit	103,817	140,894

Overheads

Administrative expenses	46,931	40,740

	---------	---------
Operating profit	56,886	100,154

Other interest receivable and similar income	8	14
Interest payable and similar expenses	2	–

	--------	---------
Profit before taxation	56,892	100,168
	--------	---------

G & P Consultancy Limited

Notes to the Detailed Abridged Income Statement

Year ended 31 December 2016

	2016	2015
	£	£

Administrative expenses

Directors salaries	21,800	22,150
Staff pension contributions - defined contribution	7,800	–
Insurance	608	489
Motor and travel expenses	5,890	9,227
Telephone	1,130	1,201
Printing postage and stationery	765	922
Premises expenses	5,915	1,200
Entertaining	1,261	2,332
Accountancy fees	1,359	1,944
Depreciation of tangible assets	–	900
Bank charges	403	375
	--------	--------
	46,931	40,740
	--------	--------

Other interest receivable and similar income

Interest on cash and cash equivalents	8	13
I R interest rec'd	–	1
	----	----
	8	14
	----	----

Interest payable and similar expenses

I.R Interest charged	2	–
	----	----