Abbreviated Company Accounts - UNDER OUR UMBRELLA LIMITED

UNDER OUR UMBRELLA LIMITED - Company Information

07150920 UNDER OUR UMBRELLA LIMITED 2014-02-28 false 2013-03-01 2014-02-28 true 07150920 2013-03-01 2014-02-28 07150920 2014-02-28 07150920 2013-02-28 07150920 uk-gaap-cd-bus:Director1 2013-03-01 2014-02-28 07150920 uk-gaap-cd-bus:Director2 2013-03-01 2014-02-28 uk-gaap-cd-bus:Director3 2013-03-01 2014-02-28 uk-gaap-cd-bus:Director3 2014-02-28 uk-gaap-cd-bus:Director3 2013-02-28 iso4217:GBP shares

Registered Number 07150920

UNDER OUR UMBRELLA LIMITED

Abbreviated Accounts

28 February 2014

UNDER OUR UMBRELLA LIMITED Registered Number 07150920

Abbreviated Balance Sheet as at 28 February 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	10,000	20,000
Tangible assets	3	9,466	5,947
		19,466	25,947
Current assets
Debtors		328,305	209,652
Cash at bank and in hand		773	-
		329,078	209,652
Creditors: amounts falling due within one year		(240,107)	(183,155)
Net current assets (liabilities)		88,971	26,497
Total assets less current liabilities		108,437	52,444
Total net assets (liabilities)		108,437	52,444
Capital and reserves
Called up share capital		50,000	50,000
Profit and loss account		58,437	2,444
Shareholders' funds		108,437	52,444

For the year ending 28 February 2014 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 26 November 2014

And signed on their behalf by:
Mr D E McKay, Director

UNDER OUR UMBRELLA LIMITED Registered Number 07150920

Notes to the Abbreviated Accounts for the period ended 28 February 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

The director considers the company to be a going concern but has not assessed a period in excess of 12 months from the date of the signing of these accounts.

Turnover policy
Turnover shown in the profit and loss account represents amounts receivable in respect of work done during the year.

In respect of contracts for on-going services turnover represents the value of work done in the year including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
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:

Plant and machinery 25% on a reducing balance basis

Intangible assets amortisation policy
Acquired goodwill is written off in equal instalments over its estimated useful economic life.

Other accounting policies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.

2Intangible fixed assets

	£
Cost
At 1 March 2013	50,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 28 February 2014	50,000
Amortisation
At 1 March 2013	30,000
Charge for the year	10,000
On disposals	-
At 28 February 2014	40,000
Net book values
At 28 February 2014	10,000
At 28 February 2013	20,000

3Tangible fixed assets

	£
Cost
At 1 March 2013	13,920
Additions	6,674
Disposals	-
Revaluations	-
Transfers	-
At 28 February 2014	20,594
Depreciation
At 1 March 2013	7,973
Charge for the year	3,155
On disposals	-
At 28 February 2014	11,128
Net book values
At 28 February 2014	9,466
At 28 February 2013	5,947

4Transactions with directors

Name of director receiving advance or credit:	Mr D E McKay
Description of the transaction:	Related party relationships and transactions
Balance at 1 March 2013:	£ 174,180
Advances or credits made:	£ 131,087
Advances or credits repaid:	£ 127,417
Balance at 28 February 2014:	£ 177,850

The company was under the control of D E McKay throughout the current and previous year.

The company maintains a loan account with it's director. At the year end £177,850 (2013 - £174,180) was owed from D E McKay. This loan is charged at 4% interest and has no fixed date for repayment.

At the year end the company owed £33,150 (2013 - £45,150) to Linkhill Consultants Limited. D E McKay is a director of Linkhill Consultants Limited.