Sine Consulting Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04530012 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

SINE CONSULTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Arundale

R J Busby

SECRETARY:

R J Busby

REGISTERED OFFICE:

Derwent House

Mandale Business Park

Belmont

Durham City

County Durham

DH1 1TH

REGISTERED NUMBER:

04530012 (England and Wales)

ACCOUNTANTS:

Robson Laidler Accountants Limited

Fernwood House

Fernwood Road

Jesmond

Newcastle upon Tyne

NE2 1TJ

BANKERS:

Lloyds Bank Plc

High Street

Gosforth

Newcastle upon Tyne

NE3 1JQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

32,067

17,068

32,067

17,068

CURRENT ASSETS

Stocks and work in progress

12,364

-

Debtors

6

240,800

222,994

Cash at bank and in hand

275,901

268,667

529,065

491,661

CREDITORS

Amounts falling due within one year

7

172,034

119,310

NET CURRENT ASSETS

357,031

372,351

TOTAL ASSETS LESS CURRENT LIABILITIES

389,098

389,419

PROVISIONS FOR LIABILITIES

5,777

3,122

NET ASSETS

383,321

386,297

CAPITAL AND RESERVES

Called up share capital

250

333

Capital redemption reserve

83

-

Retained earnings

382,988

385,964

SHAREHOLDERS' FUNDS

383,321

386,297

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 15 November 2017 and were signed on its behalf by:

M A Arundale - Director

R J Busby - Director

1.	STATUTORY INFORMATION

Sine Consulting 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 (£).

The financial statements have been presented in pound rounding.

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.

The financial statements have been prepared on a going concern basis on the grounds that current

and future sources of funding or support will be more than adequate for the company's needs. The

directors have considered a period of twelve months from the date of approval of the financial

statements and believe that no further disclosures relating to the company's ability to continue as a

going concern need to be made in the financial statements.

Turnover

Turnover represents the net value ( excluding value added tax ) invoiced or expected to be invoiced in

respect of professional services and recharged disbursements. Income is recognised on contracts as

the right to receive the income accrues during the performance of the contracts.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks and work in progress

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks and work in progress to their present location and condition.

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 have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

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.

Amounts recoverable on contracts

Amounts recoverable on contracts represent turnover which has not yet been invoiced to customers on

long-term contracts. Amounts in respect of contracts included in turnover, net of payments received on

account are separately disclosed within Debtors. Cash received in excess of the value of work done is

shown in Creditors as Payments on account.

Profits are recognised on long-term contracts where the final outcome can be assessed with

reasonable certainty. Full provision is made for all known or anticipated losses on each contract

immediately such losses are forecast.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2016 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 May 2016

and 30 April 2017

4,250

AMORTISATION

At 1 May 2016

and 30 April 2017

4,250

NET BOOK VALUE

At 30 April 2017

-

At 30 April 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2016

17,818

82,730

100,548

Additions

1,703

25,390

27,093

Disposals

(4,863

)

(61,025

)

(65,888

)

At 30 April 2017

14,658

47,095

61,753

DEPRECIATION

At 1 May 2016

15,528

67,952

83,480

Charge for year

524

5,121

5,645

Eliminated on disposal

(4,481

)

(54,958

)

(59,439

)

At 30 April 2017

11,571

18,115

29,686

NET BOOK VALUE

At 30 April 2017

3,087

28,980

32,067

At 30 April 2016

2,290

14,778

17,068

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

216,159

166,486

Amounts recoverable on contracts

8,480

46,539

Prepayments

16,161

9,969

240,800

222,994

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Payments on account

2,456

2,703

Trade creditors

26,415

-

Corporation tax

53,137

46,640

Social security and other taxes

78,282

65,144

Accrued expenses

11,744

4,823

172,034

119,310

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

14,574

27,452

Between one and five years

61,607

21,805

76,181

49,257

9.	SHARE BUY BACK

During the year the company purchased 8,330 Ordinary £0.01p from I A Dowding at a premium of

£91,667.

10.	FIRST YEAR ADOPTION

The directors have considered the impact of the new accounting standard FRS102 (Section 1A) and

have concluded that only minor presentational changes have been required to the accounts of previous

periods The date of transition was 1 May 2016.