Veracity Consulting Ltd. - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03678969 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Veracity Consulting Ltd.

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

J A P Mcdougall

Ms P Lavery Mcdougall

SECRETARY:

Ms P Lavery Mcdougall

REGISTERED OFFICE:

South View

Lower Wall Road

West Hythe

Kent

CT214NW

REGISTERED NUMBER:

03678969 (England and Wales)

ACCOUNTANTS:

Ardor Business Solutions Limited

Chartered Certified Accountants

South View

Lower Wall Road

West Hythe

Kent

CT21 4NW

CURRENT ASSETS

Debtors

4

262,439

263,045

Cash at bank

131

127

262,570

263,172

CREDITORS

Amounts falling due within one year

5

8,110

8,350

NET CURRENT ASSETS

254,460

254,822

TOTAL ASSETS LESS CURRENT LIABILITIES

254,460

254,822

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

254,458

254,820

SHAREHOLDERS' FUNDS

254,460

254,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 December 2017 and were signed on its behalf by:

Ms P Lavery Mcdougall - Director

1.	STATUTORY INFORMATION

Veracity Consulting Ltd. 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.

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.

Tangible fixed assets

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

Plant and machinery etc

-

straight line over 3 years

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 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.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

15,041

DEPRECIATION

At 1 April 2016

and 31 March 2017

15,041

NET BOOK VALUE

At 31 March 2017

-

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

£

Directors' current accounts

210,246

210,852

Corporation Tax refund

52,193

52,193

262,439

263,045

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

£

Taxation

7,030

7,030

Other creditors

1,080

1,320

8,110

8,350

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

31/3/17

31/3/16

£

£

Ms P Lavery Mcdougall

Balance outstanding at start of year

73,444

55,324

Amounts advanced

-

20,670

Amounts repaid

(606

)

(2,550

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

72,838

73,444

J A P Mcdougall

Balance outstanding at start of year

137,408

127,408

Amounts advanced

-

10,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

137,408

137,408

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.