ACCOUNTS - Final Accounts preparation


Caseware UK (AP4) 2018.0.196 2018.0.1962018-06-302018-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetruefalse2017-07-01102312092017-07-012018-06-30102312092016-07-012017-06-30102312092018-06-30102312092017-06-3010231209 c:Director1 2017-07-012018-06-3010231209 d:PlantMachinery 2017-07-012018-06-3010231209 d:OfficeEquipment 2017-07-012018-06-3010231209 d:OtherPropertyPlantEquipment 2017-07-012018-06-3010231209 d:OtherPropertyPlantEquipment 2018-06-3010231209 d:OtherPropertyPlantEquipment 2017-06-3010231209 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2017-07-012018-06-3010231209 d:CurrentFinancialInstruments 2018-06-3010231209 d:CurrentFinancialInstruments 2017-06-3010231209 d:CurrentFinancialInstruments d:WithinOneYear 2018-06-3010231209 d:CurrentFinancialInstruments d:WithinOneYear 2017-06-3010231209 d:ShareCapital 2018-06-3010231209 d:ShareCapital 2017-06-3010231209 d:RetainedEarningsAccumulatedLosses 2018-06-3010231209 d:RetainedEarningsAccumulatedLosses 2017-06-3010231209 d:AcceleratedTaxDepreciationDeferredTax 2017-06-3010231209 d:AcceleratedTaxDepreciationDeferredTax 2018-06-3010231209 c:FRS102 2017-07-012018-06-3010231209 c:AuditExempt-NoAccountantsReport 2017-07-012018-06-3010231209 c:FullAccounts 2017-07-012018-06-3010231209 c:PrivateLimitedCompanyLtd 2017-07-012018-06-3010231209 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2017-07-012018-06-3010231209 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2018-06-30iso4217:GBPxbrli:pure
Registered number: 10231209









LIGNA CONSULTANCY LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2018

 
LIGNA CONSULTANCY LTD
REGISTERED NUMBER: 10231209

BALANCE SHEET
AS AT 30 JUNE 2018

2018
2017
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
840
1,675

CURRENT ASSETS
  

Stocks
  
-
216

Debtors: amounts falling due within one year
 5 
5,162
-

Cash at bank
  
161
-

  
5,323
216

Creditors: amounts falling due within one year
 6 
(3,981)
(10,884)

NET CURRENT ASSETS/(LIABILITIES)
  
 
 
1,342
 
 
(10,668)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 7 
(159)
-

NET ASSETS/(LIABILITIES)
  
2,023
(8,993)


CAPITAL AND RESERVES
  

Called up share capital 
 8 
1
1

Profit and loss account
  
2,022
(8,994)

  
2,023
(8,993)


Page 1

 
LIGNA CONSULTANCY LTD
REGISTERED NUMBER: 10231209

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2018

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
Mr B Hallinan
Director

Date: 22 March 2019

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LIGNA CONSULTANCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

1.


GENERAL INFORMATION

Ligna Consultancy Ltd is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is 47 Marigold Drive, Red Lodge, Bury St. Edmunds, Suffolk, IP28 8TJ. 
The Company is not part of a group.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
LIGNA CONSULTANCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.4

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted averagebasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Page 4

 
LIGNA CONSULTANCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.10

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2017 - 1).

Page 5

 
LIGNA CONSULTANCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

4.


TANGIBLE FIXED ASSETS





Other fixed assets

£



COST


At 1 July 2017
2,164


Disposals
(500)



At 30 June 2018

1,664



DEPRECIATION


At 1 July 2017
489


Charge for the year on owned assets
500


Disposals
(165)



At 30 June 2018

824



NET BOOK VALUE



At 30 June 2018
840



At 30 June 2017
1,675


5.


DEBTORS

2018
2017
£
£


Trade debtors
2,190
-

Other debtors
2,972
-

5,162
-



6.


CREDITORS: Amounts falling due within one year

2018
2017
£
£

Bank overdrafts
-
1,012

Corporation tax
315
-

Other taxation and social security
1,701
1,097

Other creditors
1,065
7,875

Accruals and deferred income
900
900

3,981
10,884


Page 6

 
LIGNA CONSULTANCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

7.


DEFERRED TAXATION




2018


£






Charged to profit or loss
(159)



AT END OF YEAR
(159)

The deferred taxation balance is made up as follows:

2018
2017
£
£


Accelerated capital allowances
(159)
-

(159)
-


8.


SHARE CAPITAL

2018
2017
£
£
Allotted, called up and fully paid



10 (2017 - 10) Ordinary shares of £0.10 each
1
1



9.


TRANSACTIONS WITH DIRECTORS

At 01 July 2017, the Company owed the director £7,875. During the year, they made repayments of £861 and withdrew amounts totalling £11,709. At 30 June 2018 £2,972 was owed to the Company. This loan is interest free and repayable on demand. S455 tax has not been provided for as this balance has been repaid within 9 months of the year end. 


Page 7